Posted on 05/14/2010 9:20:40 AM PDT by Sub-Driver
Bill Clinton: More immigrants and value-added tax will reduce deficit By Eric Zimmermann - 05/14/10 11:53 AM ET
The U.S. needs more immigrants and a value-added tax to help reduce the deficit, former President Bill Clinton said Friday.
Clinton said the country was "mortgaging out a lot of our sovereignty" by using foreign creditors to pay for an "exploding" debt.
His recipe? More growth and revenue, fueled by immigrant workers and a controversial value-added tax.
"I think we're going to have to have more taxpayers, which is why I favor, in a disciplined way, immigration reform and letting more immigrants come to the country," Clinton told CNBC. "I think it would make more jobs for people who are unemployed, not fewer."
Second, Clinton said, more tax revenue could be collected by imposing a value-added tax, which taxes products at each stage of the manufacturing or distribution process.
"I think they ought to look at a progressive value-added tax, just because — and I think it's important the American people understand this — most of our competitors have tax systems like this," Clinton said.
"If you have a value-added tax ... you lower the income taxes, corporate and personal, and you put a little revenue collector on every stage of sales in a product or service, but if it is exported, you don't pay the last price," he added.
Such a tax would be "not easily evadable" and would make the U.S. more competitive, Clinton said.
Finally, Congress needs to reduce healthcare costs and show more fiscal discipline.
"We can't keep doubling the cost of health are after inflation every decade," Clinton said. "So my view is, control spending on an annual basis, work on healthcare costs, get more taxpayers and try to have the most competitive possible tax system. And eventually you've got to really enforce these pay-as-you-go rules."
Clinton suggested Democrats hadn't been as fiscally conservative as they should be, repeating his argument from earlier in the interview that the debt was "exploding."
"I simply don't think we can afford to keep exploding this debt. And I think you're going to — the Democrats, we're more socially progressive, but we're also going to have to be fiscally conservative, I think. I just don't think that it's fair for America to take any other course."
He is right, a VAT will reduce the deficit, for awhile at least, until the democRATS find a way to spend us back to record deficits.
Somebody please buy Bill a lap dance or two.That should shut him up.
Liberal Media: Why are Republicans bring up the VAT? No democrats are talking about the VAT.
Except the President, Speaker, Former Fed Chairman, and Former President..
“Bill Clinton: More immigrants and value-added tax will reduce deficit”
Actually, more immigrants (illegality doesn’t seem to be a concern) = more Democrats. It’s as simple as that.
Bill Clinton: “what this country needs is a larger supply of nubile interns to bring their kneepads to my foundation office.... oh, wait, the subject was immigration and the national debt?”
What is the difference between mortgaging our future to China and mortgaging our future to immigrants? The first choice keeps them in China and doesn’t permit them to vote.
This sage advice from and old scum bag trying to sell dates with himself on the web to payoff his wife's campaign debts! lol
Every single liberal is a clueless moron.
FUBC and FUBO.
But that isn't their plan. They know people that brake the law usually will vote for them.
OK, Bubba, just where is the work these immigrant workers will work???
LOL, Doesn’t this tool realize yet that there is already a lack of jobs for the existing citizenry so adding more immigrants to work in an already saturated job market will solve the tax revenue how?
How about a fair tax?
How about some transparency in taxation, you nattering twit!
You dig the hole that my kids have to dig out of and then you want to cover your tracks when you reach into our pockets with a VAT. It’s bad enough that you make our employers do the dirty work of reaching into our pockets.
I will pay. I would pay the higher tax to relieve the debt on my children if I knew the government would stop its reckless spending and get out of the business of regulating commerce, while having an open and transparent window on how much of my money that they want and how they are spending it!!
thanks,Bill.now go back to diddling chubby girls.
“The Fiscal Cost of Low-Skill Immigrants to the U.S. Taxpayer”
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