You're going to pay for the 'bailout' . . . again . . .

Like it or not, there's only one way we're going to be able to pay for our ballooning deficit: a value-added tax.

Now doesn't that just do the nasty to the behind first thing in the morning. People are finding it hard to make ends meet as it stands, and to fund the bailout, these fine folks at Forbes believe we're soon to meet up with the value added tax.

The VAT is essentially a sales tax, except that it's charged at each stage in the development of a product instead of at the moment when the product is sold.

Nice, isn't it.

Black friday, they estimate 41 billion was sold in merchandise, so we essentially have to come up with twice that much. Wow

Of course, the corporate lobbyists have already secured the 'hedge' that any such taxes will in part or whole be 'passed' along to the end-consumer (you and I).

Nice indeed.

They have found yet ANOTHER means to suck the wealth right out of our pockets. Perhaps they'll just dispense with pay and have our paychecks given directly to the government for disbursal to their corporate friends.

I'm not quite sure where you are getting your facts from. But VAT is PAID by the endcustomer/consumer.
The producers, wholsalers and retailers get the tax from the next person down the line and pass it to the government.
.... Not even I understood that sentance.

Here an example:
in this example VAT = 10%:
- Farmer produces 1 unit of wheat and sells it for $1.00 plus $0.10 VAT which he pays to the taxman
- Generic bread producer sells a unit of bread to retailer for $1.50 plus $0.15 VAT and pays $0.05 VAT to taxman (the farmer has already paid the other $0.10)
- Consumer buys Unit of bread WORTH $2.00 from retailer (generic local shop ) but PAYS $2.20.
(Which is $2.00 + VAT or $2.20 incl. VAT)
Shop has already paid $0.15 in VAT (to the retailer) and pays another $0.05 to the taxman.

THUS: 10% VAT = consumer pays 10% more.

so @ amatrine unless you pay 100% VAT your sentence is wrong (please take no offence)

BB,
Samuel
p.s. I know that example isn't quite right, because in RL, products sold to trade customers (non-consumers) are usually paid ex (without) VAT, so only the shop actually pays the VAT, but that makes a difficult subject impossible to understand! xD )
EDIT brammar and seplling
EDIT the 2nd maths problem xD

[edit on 2-12-2008 by Aldolas]

[edit on 2-12-2008 by Aldolas]