Posted on 04/16/2010 3:23:48 AM PDT by Man50D
With a large bipartisan majority Thursday, the Senate passed a non-binding resolution expressing opposition to the U.S. adopting a value-added tax.
The resolution, proposed by Sen. John McCain (R-Ariz.), passed by a 85-13 vote. The vote is a rebuke to Paul Volcker, a former Fed chairman who serves on President Barack Obama's Economic Recovery Advisory Board.
Volcker has argued for the European-style national sales tax, saying it could help offset the growing federal deficit.
McCain and others have argued that the tax would not solve the problem and would hit the middle class too hard.
“McCain and others have argued that the tax would not solve the problem and would hit the middle class too hard.”
so McCain would rather hit the middle class hard with Cap & Trade ?
More money is never the answer for out of control spending.
A lesson California has yet to learn.
Until after the election when they manufacture the “crisis”.
With this resolution and $1 I can get a medium coffee at McDonald’s.
Except for the 10.25% VAT, er, sales tax in Cook county.
“McCain and others have argued that the tax would not solve the problem and would hit the middle class too hard.”
Yes, we should only continue to soak the rich (those making over $250k or is it $200k? $150k?). However, once the tax on the rich hits 100%, then a VAT may be considered.
A *NON-BINDING* resolution is a license to cheat!!!!
They can’t make a VAT progressive, so it can’t be used for “redistribution of wealth”. That won’t do.
How generous of them...
Yet at the same time these traitors have np problem spending trillions we don’t have which in itself is a hidden tax.
I really wish I could say otherwise, but this current govt is the worst in my lifetime. And its both parties! Sure there is ryan and a few others but by and large both parties are racing us off the same cliff, one at fifty miles per hour and the other at light speed.
I beg to differ, a VAT could indeed be made “progressive”. For instances, a VAT refund to those making less than $X per year, certain products exempted (to encourage or discourage particular behavior), etc. It could easily become more intrusive and manipulative even the current income tax system.
IE: It's as meaningless as the paper it's written on.
“I beg to differ, a VAT could indeed be made “progressive”. For instances, a VAT refund to those making less than $X per year, certain products exempted (to encourage or discourage particular behavior), etc. It could easily become more intrusive and manipulative even the current income tax system.”
I agree. The power to set prices for individuals based on their reported income is NOT GOOD for a society. We already have that, to a large extent, with colleges setting financial aid based on income...and Sweden has that with traffic tickets based on income.
We really want to stay away from that monster.
There are already discussions on how lower-income voters would be given tax rebate checks for VAT taxes paid - much like the *unearned income tax credit*.
Money for nothing and stuff for free!!!!
Who were the 13 louts that voted for it?
Wait til Obama starts bringing the dems in for”Talks”. They will change their tunes, either with bribes or blackmail.
Its the Chicago way, ya know.
That is a genuine sales tax. A VAT will turn that $1 coffee into a $4 coffee.
These imperious bastards think we work for them...
Pro VAT Dims = Boxer, Burris, Durban, Feingold, Franken, Kerry, Leahy, Menendez, Schumer, Specter, and Reid. Plus Sanders (Socialist) and Voinovich (RINO.)
Ah...the usual suspects. Good to see Snarlin Arlen Spector among the list. Another nail in his politcal coffin.
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