Oh yeah, Obama gonna cut taxes for 95% of Americans NOT!!! Did you really think we could just spend and spend and spend without carrying the burden down to the lowest tax payer? HA!
Now, we have this brilliant idea of a VAT, which is already popular with the GOVERNMENTS of many European governments. The people don't like it so much, but what do we matter.
So instead of instituting the FairTax solution, we are going to have big taxes on the top earners (which they will pass on to the consumer) and now we will also have a VAT on consumables. OH but wait, that will pay for Health Care! Yeah, just like the lousy health care elsewhere in the world.
Watch for this, it's gonna get interesting: VAT