My post yesterday on Mitt Romney's inability to deal with the deficit stokes Stan Gibilisco's fears that Romney-nomics will lead us to an economy-crushing, inequality-boosting value-added tax. Mr. Gibilisco hates the VAT so much that the lifelong Republican posts this video demanding that Romney swear off the VAT.
Stan, you clearly need to expand your media empire to include podcasting. Give us more video from Lead!
One reason the value-added tax is a good idea only in the selfish minds of people like Romney: it hits poor people harder than rich people. As LK pointed out last week, the poor spend much more of their income on basic necessities. The Romney elites squirrel away more of their income in pots the VAT wouldn't touch. Romney's tax plan already redistributes more wealth to the rich and takes away from the rest of us ("Romney Hood," say Gibilisco and Obamaâ€”"Romney Hood.") Romney is naturally open to any tax plan that favors his peeps even more (as is Paul Ryan, Romney's running mate!).
President Obama has kinda-sorta said he could consider a value-added tax, too. But as the Cato Institute's Daniel J. Mitchell argues, a VAT proposed by second-term President Obama would go nowhere, because Republicans would scream, "It's a tax!" A VAT proposed by (jinx!) President Romney would have a better shot at passage.
Stan, I hope Mitt notices your video and gives us a straight answer on whether he'd impose a value-added tax. But even if he comments, I suspect we'll hear an opposite opinion from the same mouth the very next day.
(But one production note, Stan: don't shoot your stuff in Stellar Cartography! I keep looking at your awesome computer display in the background, mesmerized by the data, looking for SETI signals!)