Submitted by Charles Hugh Smith from Of Two Minds
America's Hidden 8% Tax: Sickcare
The bloated, inefficient sickcare ("healthcare") system in the U.S. is in effect an unofficial tax on the entire economy.
You may think only European countries have VAT (value-added taxes), but America has one, too--it's just hidden in the sprawling "healthcare" system, i.e. sickcare. A value-added tax (VAT) is a broad-based consumption tax designed to raise tax revenues from across the entire economy.
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