Filed under: Tax

As of this morning, the national debt of the US is $12.1 trillion. To put that into context, if you counted $1 every second of every minute, you would have to count for 383,434 years to reach $12.1 trillion.

It doesn't look to get any better as Congress just voted in a $447 billion spending bill in a year where revenues are down. That doesn't include the projected cost of the health care bill, tax credit extensions and other budget-altering items slated for consideration. It's clear that something has to change.

Continue reading Is a value-added tax the answer to U.S. debt?

Is a value-added tax the answer to U.S. debt? originally appeared on WalletPop Blog on Mon, 14 Dec 2009 16:00:00 EST. Please see our terms for use of feeds.

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