The Value Added Tax

Many of you who watch the news have been bombarded with the speculation/rumors that the current administration is thinking about adding a value added tax in order to help recoup some of our current and future deficit.  For those of you who don't know, the value added tax, or VAT is basically a federal sales tax, tacked on top of the state sales tax, which is on top of any federal income or wage taxes you may pay.  This has been a popular idea in the past, but usually the idea was to replace the federal tax system with the VAT.  Here is a link to a great article on another blog that I follow.  Please read it, as it is very informative.