Posted on 09/01/2009 6:54:50 AM PDT by SeekAndFind
For decades, Americans have preferred to run up huge deficits by borrowing from foreigners rather than living within their means by collecting enough taxes to cover their government's expenditures.
Any attempts to raise taxes are greeted with derision by voters who have no idea how low their taxes are compared with the rest of the world.
Like others living outside the United States, I'm very unsympathetic to this whining and deficit-riddled form of governance. It's ruinous for the rest of the world and has been a contributing factor to the economic mess we're all in nowadays.
Americans are tax crybabies, but their spendthrift party will have to end. For the first time, there are hushed whispers in Washington's policy corridors of a possible federal VAT, or GST, across the land to right the listing ship of state.
Some say this is impossible. After all, the President who does this must be the political equivalent of a suicide bomber, willing to die politically in order to get to fiscal heaven.
But no less than the great former governor of the Federal Reserve and Reaganite Paul Volcker has given some, albeit tepid, support to the possibility, according to a recent Washington Post article.
To Canadians, and the rest of the free/developed world, an across-the-board sales tax -- either a value-added tax or a goods and services tax -- is not only a no-brainer but, quite possibly, a world saver now. Europeans pay roughly 15% in VAT and most Canadians pay nearly the same in sales taxes to their provinces and the feds, Alberta excepted.
The Americans need to spend trillions over the next few years and can do this only through taxation, borrowing or printing. But more U.S. debt or currency debasement would be dire for the world's economy
(Excerpt) Read more at nationalpost.com ...
Someone popped out of their mom and landed head-first on the floor.
What planet does this author live on? This broad is totally out to lunch. We ought to be thankful for our “low” taxes and all the rest of the world’s problems are created by us? What utter stupidity!
Cut givernment spending and we can talk about taxes. Either a flat or a fair tax is my choice.
The government could always stop spending money like a drunken sailor. But that would never occur to an uninformed liberal.
Can’t fix stupid.
Lets move on and let this loony rant.
I could not get past the first sentence. The government wastes most of the money it gets. I do not know of anyone that approves or the wastes.
I got another thing to add. To use Canada as a model for us to follow is insulting. I was in Canada about a month ago. You wouldn’t believe the prices for food.
10 pounds of potatoes cost from $10 to $12.50, US price $3
Half a gallon of milk is $4, US price .99 cents
Gasoline was $3.85, US price $2.40
Yep increase our taxes so we have less money, buy less and have lower standards of living such in Europe and Canada. After all according to the evil socialists it is not fair that we have bigger homes than the socialists in Europe, we eat more than the socialists in Europe, we drive bigger cars than the socialists in Europe, we possess more stuff than the socialists in Europe, we must be punished with higher taxes so will have less and live a deprived life like the socialists in Europe.
How did this country survive for so many years without:
Fannie Mae
Freddie Mack
Homeland Security
No Child Left behind
The Department of Education
EPA
OSHA
Medicare
Medicaid
And the myriad of other agencies that suck money out of the citizenry?
Get rid of all of them.
Ron Paul was right. If only he had the personal magnetism of Sarah Palin or Ronald Reagan.
F*** the rest of the world.
“Any attempts to raise taxes are greeted with derision by voters who have no idea how low their taxes are compared with the rest of the world... It’s ruinous for the rest of the world and has been a contributing factor to the economic mess we’re all in nowadays.”
Who’s the crybaby? Perhaps if those socialists could run their own economies and spend their money on their own defense, then maybe they wouldn’t have to be so dependent on the US.
This writer(who is not an American and only sleeps safely at night because Americans protect her) insults Americans and implies that the spendthrift politicians are representative of the good, patriotic American people.
Hard working and responsible Americans have built the greatest economy in the history of the world. For the past 70 years America has sacrificed its sons and its treasure to defend the rest of the free world. We struggle every day to keep this country going and protect it from the money grabbing whores in Washington who hate our country and despise our values. We don't need these self righteous foreigners who have no clue as to what it is like to live in our great country ridiculing us and resorting to childish name calling to insult us.
Why? What do you suppose would happen if he did?
Exactly!
The effect of this is that industry that is able is moving out of the US taking high paid jobs with it. This has the effect of lowering individual and corporate tax revenue.
Raising taxes has a net negative effect on revenue.
One of the bad effects of a VAT is that the cost to the corporation and the as a result to the consumer is unpredictable. If cost is unpredictable this has a damping effect on economic activity. If you can’t predict cost you necessarily must be more cautious. If you are more cautious you are less productive.
I can live with that.
Remember a few years back when Sheets Bird had the bill to reduce government waste and abuse. He said it saved 20 billion dollars. Then they passed another bill spending 22 billion of the twenty billion they saved. LOL The wonders of government and politicians. Aways wondered if that move had Goldman's approval.
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