Pelosi says new tax is 'on the table' [A new value added tax (VAT).........]

The Hill ^

[Sub-Driver]

Pelosi says new tax is 'on the table' By Michael O'Brien - 10/06/09 10:59 AM ET

A new value added tax (VAT) is "on the table" to help the U.S. address is fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

"I would say put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the value-added tax has any appeal to her.

The VAT levies a tax on manufacturers at each stages of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their government provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the health care for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a health care component cost."

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the health care cost, that's one part of it," the speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate currently consuming most lawmakers' times, and that it may come as part of a larger overhaul to the tax code.

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

[Sub-Driver]

Just swell.........

[E. Pluribus Unum]

Would it be possible to defeat Nasty in the 2010 election?

[dead]

She wishes to see the destruction of the Great Satan and will do her bit to bring it about.

[kennedy]

Why not simply tax anyone who votes against them? You know that is what they really want to do.

Sure, there is that pesky Constitution thingy, but that shouldn’t stop them.

[noblejones]

Somebody throw nancy in Boston Harbor.

[RobRoy]

The good news is that since I make less than $250k I don’t have to worry about it!

/s

[RushIsMyTeddyBear]

Bloody hell. These people need to GO!!!!!!!!!!!!!!!!!!!

Last time I lived in the UK....the VAT was 17.4%. No telling what it is, now.

[RexBeach]

Yup. No tax is too big and no outrage is too small for these people.

They really think our money is theirs.

Putzes on parade.

[bamahead]

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[kennedy]

"I would say put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the value-added tax has any appeal to her.

English Translation: "I've never met a tax I didn't like."

[Patrsup]

Actually a VAT tax will really kill the economy. It is only paid if you buy something so the way to avoid the tax is not to buy anything. The underground economy will flourish

I think there is only one quality worse than hardness of heart and that is softness of head. - Theodore Roosevelt

[CPT Clay]

VAT is only an option if the income tax is

[facedown]

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

That's true, only if they don't buy anything manufactured in America.

[Fresh Wind]

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

Well, there you go. Nothing to worry about.

[tje]

Man, between raising the minimum wage and now a VAT, we’re going to end up with more jobs ‘saved and created’ than we know what to do with.

[April Lexington]

The Federal government MUST be abolished! Return power to the people by straightening the states. Limit federal power or we will all be enslaved! WAKE UP OR GIVE UP.....

[Harley]

If they tax her botox, she’s screwed!

[hometoroost]

That is one seriously freakish looking face. Step away from the scalpel.

[Paperdoll]

That unpeakably poor excuse for a woman!

[Moonman62]

The only tax I’ll support is a tax on rich Democrats like Pelosi. 100% confiscation sounds about right to me.