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The VAT Isn't Coming. Here's What Might Be.

There's been a ton of chatter about the prospect of Democrats imposing a value-added tax, but almost all of it has come from conservatives. The conversation has thus taken on an odd quality -- it's conservatives whipping each other into a progressively more hysterical state while liberals stand aside puzzled.

David Frum has a much more persuasive take on what taxes Obama is likely to raise.