Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax' (Here it comes!)

Foxnews ^ | 4/7/2010 | Staff

[Red in Blue PA]

Acknowledging it would be a highly unpopular move, White House economic adviser Paul Volcker said yesterday the United States should consider imposing a "value added tax" similar to those charged in Europe to help get the deficit under control.

A VAT is a national sales tax that, like state and city sales taxes, would be collected by retailers.

Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy.

[historyrepeatz]

Krauthammer is ALWAYS right. I revere him.

[unixfox]

These people in DC have no clue and they are our so-called leaders. How did we get here?

Simply, we allowed it.

[Arthur Wildfire! March]

I’m a goin to stay where you sleep all day
Where they hung the jerk that invented work
In the Big Rock Candy Mountains

I’ll see you all this coming fall in the Big Rock Candy Mountains

[This Fall, Super Tuesday.]

Big Rock Candy Mountain
http://www.bluegrasslyrics.com/all_song.cfm-recordID=s29253.htm

Filing this in ...

Obama-nomics link-list
http://www.freerepublic.com/focus/chat/2464021/posts

[pieceofthepuzzle]

I propose that a start on reducing the deficit should include a $100,000 each assessment from every attorney in the US. That will bring in at least 114 billion dollars. Not enough, but a start.

[Gabrial]

I posted this yesterday on an unrelated thread, but here it is again...

With the debt Obama is running up, the only option without the US defaulting on it's debt is a federal VAT (Value Added Tax). This will be the ultimate battle ground if you ask me.

Obama’s strategy is to layer one unfunded program on top of another until “we have no choice” but to implement a federal VAT.

Food is likely to be exempt, but “bad” things like ammo and guns likely to carry a 50-75% VAT burden.

IMHO that is when the SHTF.

[Gabrial]

“Better yet, America should slash Federal spending.”

It's the only real answer other than trickle up poverty to all Americans.

[Gabrial]

“Po’ folks pay this one. They pay it in a lot larger proportion than people who can control their consumption to avoid taxation. I predict this will nor cut down on the number of cell phones ipods and big screen TV’s owned by the welfare classes, but crime may increase.”

Yes, it is a repressive tax. However, Obmama will try to give tax dollars to people that don't pay taxes in order to expedite the redistribution of wealth. So, people on welfare that don't work will get more checks from Obama for doing absolutely nothing to compensate the nonproductive class for having to pay VAT.

[Gabrial]

“If I ran my household the way Washington spends our tax money I would be dirt poor and in debt.”

My guess is you would be in prison.

[Gabrial]

“How else can they tax the poor and get away with it?”

See my answer at post #127 above.

[Tzimisce]

Alright!

I was just thinking that taxes are WAY too low. :)

[francky]

http://moneywatch.bnet.com/economic-news/article/vat-will-the-us-adopt-a-value-added-tax/411133/

“Until recently, discussion of a U.S. VAT had been limited to the back rooms of think tanks and cocktail hours of high-minded conferences. But nearly every other industrialized nation has one, and the idea is beginning to spread. In addition to Volcker, the head of the Senate Budget Committee, Kent Conrad (D-N.D), has mused that a VAT has “got to be on the table,” and Speaker of the House Nancy Pelosi (D-Calif.) has murmured sweet nothings about it. In fact, interest in a VAT is cropping up all along the ideological spectrum (albeit more often along the leftish end).”

In conclusion:

“Americans as a whole did not squawk when spending rose during the Bush administration, and in electing Barack Obama, they voted for bigger government. At some point, the politics we have voted for have to be paid for. A VAT is likely to be part of the answer.”

[Paige]

WAKE UP AMERICA!!!!!!!!!!!!

[RockyMtnMan]

I for one hope they continue this line of talk and thinking. Nothing will throw these asshats out of office faster than a VAT or even the idea of a VAT.

[Deo volente]

The media started talking about a VAT last summer. I posted this CNN/Fortune magazine article several times already:

http://money.cnn.com/2009/06/05/retirement/next_crisis_americas_debt.fortune/index.htm

The VAT is coming soon and it will kill the middle class in this country! That’s part of the plan to place the government in charge of everything.

[Varsity Flight]

Taking away the straw, make bricks with mud.

Notice, that we kept hearing the so called “health care BILL” (Vampire Care), was suppose to “control the deficit.”

Ask what went on behind the closed doors with Pelosi/select Congressmen and Paulson in the spring of 08.

The plan was for the fake Vampire Care (”so called: H.C.) to bail them out. But they found out that they had to pay off (bribe) too many with H.C, to “control the deficit”, as we kept hearing. The clapping in the House when the H.C. bill first passed the House, was all inside Washington. But as the dragged out delay in their scheme went on, due to the desperate closed door bribery, they now realize no gain in the MASSIVE deficit = huge inflation otherwise.

The plan was:

1. Paulson tells Govt. bankrupt (pelosi-paulson meeting)

2. Get “fly over Bosnia” Clinton elected with her fake H.C. bill through. Vampire Bill balances the deficit through taxes.

3. Upon failing #2 above, take the illegal one into Boxer’s house with Clinton for the, “if you want in, our people are going into the White House with you.” Hence the illegal one is forced to lie and lie, and changes to supporting Hillary-Care. (They had to take the illegal one, if they didn’t, the entire democratic party would have imploded, due to their African-American and college bases.)

4. But due to all the recent h.c. bribery, Vampire Care, no longer can draw enough life-blood into D.C.

5. So now the VAT. The new Vampire-Added-Tax Vampire Added Tax.

6. And the Vampire Added Tax, is designed to funnel big money into not just the beltway, but their desperate Satellite States. Satellite States. Make no mistake about it, California along with the other heavily public unioned democratic states are now Satellite states of the communist D.C. beltway.

8. They’ll try to get this passed BEFORE November.

That’s my opinion.

[DontTreadOnMe2009]

Great song

also in Oh Brother by the Coen Brothers, first song up.

[DontTreadOnMe2009]

VAT rather than the “Fair Tax” ??????

Both call for 11% added tax to all purchases;

but one needs ALL other taxes in place,

The Fair Tax substitutes for ALL other taxes.

Something mathematically incorrect here...

[DontTreadOnMe2009]

I too fear for the road we seem to be on ...

And I weep for what my beautiful country has become.

[DontTreadOnMe2009]

they will also start spending and creating countless new Socialist Programs to suck up all the “revenue” they have taken from the Publik. There will be no end to it, or reasonable restraint.

Yes, sad to say.

[DontTreadOnMe2009]

Starve the bastards in DC!

Starve the bastards in DC!

Starve the bastards in DC!