In Canada they call this the GST. The Mnemonic I prefer for this is Grief and Suffering Tax. Vat for Value Added Tax sorta works as in "all a youse step into this snake pit and we's see which one is whicher than the rest."
But the question I stumble over is why does a consumption based economy think that punishing consumption will result in profit? Yet 'K' street wants this. Meh.