Monday, March 29, 2010

U.S. business could be cooked in a VAT

By Mark Steyn

"May I be boring? Or, if you're a regular reader, more boring than usual?

Bear with me. There's some eye-glazing numbers and whatnot.

In 2003, Washington blessed a grateful citizenry with the Medicare prescription drug benefit, it being generally agreed by all the experts that it was unfair to force seniors to choose between their monthly trip to Rite-Aid and Tony Danza in dinner theater. However, in order to discourage American businesses from immediately dumping all their drug plans for retirees, Congress gave them a modest tax break equivalent to 28 percent of the cost of the plan.

Fast forward to the dawn of the Obamacare utopia."

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