This guy way have been right on the money.
Posted on 04/07/2010 4:37:00 AM PDT by 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.
(Excerpt) Read more at foxnews.com ...
And say Goodbye to the “Consumer economy”.
Without consumers spending, theis country is doomed. We are now at that point.
These people in DC have no clue and they are our so-called leaders. How did we get here?
As I said earlier I saw on Fox that the Dems and Obama are now pushing for the Treasury Secretary to have “extraordinary powers”
Meaning.. if he “deems” a company struggling or “too big to fail”
He can take it over or shut it down.
They said who would want to be a Republican owning a business if a Democrat President can simply shut your company down?
Do you really believe for one moment that “they” don't know that? Have you seen one single action the DemonRATs have taken in the last 20 years that was aimed at anything other than giving “them” more control? Socialists, Marxists, Communists, Environmentalists, whatever you choose to call them, they are bent on destruction of Capitalism and Free Enterprise. Don't fall for the trap that “they” are misguided. This is a purposeful, sustained attack from within, and should be dealt with as severely and forcefully as one would deal with any traitorous entity or person.
This guy way have been right on the money.
What we need is a law that makes introducing new taxes as a treasonable offense on the part of the legislator foolish enough to sponsor the bill.
VAT is not just another “sales tax”. It is more of a multi-level marketing, pyramid scheme of a sales tax, where each and every manufacturing step along the way garners its own taxation.
Obama and administratio stink.
“If you try to sit, I'll tax your seat,
If you get too cold, I'll tax the heat,
If you take a walk, I'll tax the street.
Cause I'm the TAXMAN!”
And does anyone think the VAT will be the last of the taxes to be imposed?
The line must be drawn here.
No VAT!
Paul Volcker is still alive? I thought that communist ahole was dead and buried, just like Karl Marx.
Value Added Tax and taxes on carbon and energy my a$$!
I think we should consider some sort of constitutional amendment limiting government spending to some percentage of the GDP from the previous year.
If we had something like this in place, I’d even go for a tax increase as long as every dollar in tax increase was accompanied by an equal amount of decrease in government spending. We have to have strong incentives for these douche-bags to stop spending, or they are just going to keep right on going until we have a total economic collapse. I feel we’re already getting very close to that point as it is.
A VAT AND an income tax? That would push the marginal rate for the average person way, way over 50% (when you include state, local, and other sales tax.)
That is unsustainable.
ALDI special
Obama and company are doing EVERYTHING possible to crash the economy.
They have two built in excuses already warmed up in the bullpen:
1) Bush’s Fault
2) Greedy capitalism.
Not a day goes by where Obama has stated aloud that he either ‘inherited this economic mess’ or blames wall street.
The truth is that many of the sheeple by this BS.
Some say the tax can be a good way to raise money because -- depending on how it's imposed -- the burden does not have to fall on the consumer alone
Talk about naivete!
This would be an economy killer, IMO. I'm not much of a "consumer" to begin with, but I'd become less of a "consumer" than I already am, as would millions of others.
Until people wake the hell up on the debt obligations this country faces this is all just noise making. We cannot meet our current obligations because tax revenues are insufficient relative to outlays.
Raise revenue, cut spending or do both.....
Because if not it is going to be forced upon us soon.
Oh, how come I didn’t know this, the world’s financial crisis is due to a lack of taxation by the Federal Government. I’m glad I’m not a super financial wizard like Paul Volker, or I’d believe nonsense like this too.
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