Here come the cuts in benefits for most of us and big taxes
This commission will be convened so that Obama will have someone to blame for when he will have to raise exhorbant taxes on the rest of the 95% of us...
Plain and simple...
And we will be surpised, why???
Reckon' the rule do not apply to them.
We CAN NOT allow a VAT. It can not happen. Our standard of living will go into the toilet. We will pay 2, 3 or 4 times as much for everything. Everything. And unlike the Euros, who at least, get months of vacation, we’ll have nothing to show for it. Nothing.
By golly Miss Molly they’re gonna tax something.
Even if it only gets them tarred and feathered and run out of town on a rail.
We cannot survive without boosting GDP. It all flows from that.
A combination of gains in GDP and reduced spending must take place. Period.
Just how to do that is the only question. A VAT won’t grow GDP - to the contrary it will shrink it and hence reduce tax revenues. Further, it is likely to be in addition to our income tax which is like really the worst for GDP.
A flat income tax would help as long as the rate is sufficiently low to promote growth and attract investment. 19-20%. But it would have to be in place of our current income tax code and the current flat tax proposals don’t do that - they retain withholding of taxes and they retain FICA taxes [current proposals are 15.3 FICA plus 17% income taxes.]
An NRST would help as long as the rate is sufficiently low to promote growth and attract investment. 20% or so. IF an nrst completely replaced our income tax code, it would mean a ginormous GDP gain.
... just sayin’...
“Democrats agree to cut Medicare and Social Security benefits for future retirees who make more than median incomes”
so, now that we have contributed to these programs all our lives, instead of cutting ‘welfare’, medicaid funding of illegals and others who wont work, this is where they want to slash spending? Wonder when AARP will speak out against this?
With a VAT, politicians can raise the tax on a whim and when the cost of goods and services go up as a result, stupid voters blame the "greedy" business people for high prices instead of the politicians for the high taxes.
Anything that is good for a politician is bad for the nation and should be avoided. We know how to solve our money problems and a VAT isn't one of the solutions.
We have GOT to win back the House and Senate and at least slow down Obama’s agenda.
This is punitive...either the American People WILL accept a “healthcare” (tax) bill, a “Cap and Fraud” (tax) bill or a VAT...where do these clowns get off?!!!
STOP SPENDING!! Two words.short. and sweet.
I am in favor of some kind of consumption tax — preferably a national sales tax that people can see rather than a hidden VAT.
But there should be absolutely no consumption tax until the all taxes on income, savings and investment are eliminated.
The Democrats have the presidency and strong majorities in the House and Senate. They can increase taxes if they want to, but are well-aware that their expected losses in November will increase substantially if they vote to gouge us even further.
This commission provides political cover so they can add consumption taxes while at the same time continuing to penalize income, savings and investment.