Value Tack News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Income tax. what is being put on the table here is a national sales tax. that's what a value added tax is. >> greta: it is a tax on every change in value of a product pushed on. >> if you bought a $300 iphone under 20% added value tack the cost might be $360. this major tax it hits the middle class. in addition to state sales taxes. a lot of states have hired 6, 8, some 10%. if you have 18 or 20% value added tax you are talking about 25% sales tax at the cash register every time you buy food, groceries, diapers, school supplies, just about anything would be taxed. >> greta: paul volcker saying...

Income tax. what is being put on the table here is a national sales tax. that's what a value added tax is. >> greta: it is a tax on every change in value of a product pushed on. >> if you bought a $300 iphone under 20% added value tack the cost might be $360. this major tax it hits the middle class. in addition to state sales taxes. a lot of states have hired 6, 8, some 10%. if you have 18 or 20% value added tax you are talking about 25% sales tax at the cash register every time you buy food, groceries, diapers, school supplies, just about anything would be taxed. >> greta: paul volcker saying...