There has been an another option before Congress since 1999. It's the Fair Tax Act(HR25/S296). It is a non VAT national sales tax that will replace the Federal income tax and abolish the IRS. Fair Tax ping!
Posted on 05/27/2009 5:38:44 AM PDT by GreaterSwiss
With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.
Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.
At a White House conference earlier this year on the government's budget problems, a roomful of tax experts pleaded with Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama's policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate.
"There is a growing awareness of the need for fundamental tax reform," Sen. Kent Conrad (D-N.D.) said in an interview. "I think a VAT and a high-end income tax have got to be on the table."
(Excerpt) Read more at washingtonpost.com ...
Get the tar, feathers and a rope.....
Tax consumption and you get less of it.
These clowns want control and the power to undermine the U.S. economy and it’s productivity.
They have no intent to “fix” anything.
You'd be surprised! We're rapidly approaching the point where the point where the parasites outnumber the hosts. People figure they're going to be a getting check from the gov't...let the other guy worry about taxes. The kind of forced mediocrity that the government can provide is much better than what they're willing to work for to provide for themselves. It's so damned depressing!
One option can take care of the budget problems.
Cut, hack, slash, and burn on spending.
The people in CA voted 2 to 1 against raising taxes and still that’s all these fools advocate. What part of “tax revolt” do they not understand?
They'll change it slightly, to "95% of taxpayers will get an income tax cut." As in Animal Farm, only a few animals will notice the difference.
They’re trying to turn us into England here, folks.
We are in a work release camp. We are free to wonder around just so long as we kick back.
Even if people don’t pay income tax, they will just get corporations to collect the tax.
1/3 the country is on tax supported welfare/SSI.
1/3 works for gooberment, and depends on higher taxes for increased living standards
1/3 of us are competing amongst ourselves, illegals, and every county in the world.
“Rahm Emanuel’s brother advises 10% VAT...”
That’s O.K.. He can pay that if he wants to.
Wait a minute - who elected him? Who appointed him? Who asked him?
later
And where are they going to go?
I'm curious how anyone would come to the conclusion that taxes are a "money-making idea".
“What’s the plan when the rich decide to pull up stakes and leave this country?”
Sorry you missed the point, there will not be any rich to pull up stakes...
It sure looks like they really want one. It's almost like they are begging for it. Problem is, most of the American public are panty-waists and don't have the stomach for what really needs to be done.
Why should I pay more for lousy government I don’t want?
The Dems never believe people respond to their taxes. They always believe in "static" analysis where Revenue = Tax Rates x Income. But, as disclosed yesterday, Maryland reveals the truth: "Wealthy leaving Maryland in droves to avoid higher taxes." And even NYC provides tax credits to film making companies to make sure they come back to Manhattan to make their movies.
Next steps? Revoke passports? Require permission to move to the next state? Reciprocal tax laws to reach you even after you flee a high tax state? A wall on the Mexican and Canadian borders to keep us from fleeing? 100% death tax on estates?
“few other options can generate the kind of money the nation will need to avert fiscal calamity. “
How about cutting spending..NOW??? Not 2 years, 5 years or 10 years down the road. NOW!!!!!
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