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Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax' (Here it comes!)
Foxnews ^
| 4/7/2010
| Staff
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 ...
TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: 111th; bho44; bhoeconomy; bhofascism; bhosocialism; bhotyranny; capandtax; democrats; economy; globalwarming; liberalfascism; obama; socialism; taxes; taxincreases; tyranny; valueaddedtax; vat; volcker
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To: DontTreadOnMe2009
More and more people believe the Obama administration is deliberately trying to collapse our economy and more new taxes will push us in that direction. I am having a lot of insomnia over all this. I fear that without a drastic turn in the road we are on, America is lost.
61
posted on
04/07/2010 6:12:21 AM PDT
by
jazzlite
(esat)
To: Red in Blue PA
STOP SPENDING. Get out of debt. Take care of yourself and your family first.
People during the great depression (which we're headed for - and possibly worse) lost everything, and I mean everything, they had to their names. Only those who had no debt kept what they owned. They were the smart, frugal ones. They had farms and were dependent on no one.
To: Red in Blue PA
I have a better idea - howzabout we repeal Obamacare so we won’t need the flippin’ VAT?
To: ProtectOurFreedom
64
posted on
04/07/2010 6:17:50 AM PDT
by
Obadiah
(ObamaCare = VA hospitals for everyone)
To: wita
Just like in Atlas Shrugged, they aren’t trying to live life, but just avoid death (in this case, political death).
Another problem is that businesses continued to work even as dear leader and his cronies continue to pile on them ways of making it all but impossible to profit. Such actions give big brother the idea that reality can be altered to fit his view of how it should work.
65
posted on
04/07/2010 6:17:56 AM PDT
by
RWB Patriot
("Need has never produced anything. It has only been an excuse to steal from those with ablity.")
To: Scotswife
From his perspective, nobama is a very effective “leader”. He and his minions are purposefully undermining EVERY aspect of our culture. Resist! Resist! Resist! In your heart you know what you have to do.
66
posted on
04/07/2010 6:17:57 AM PDT
by
hal ogen
($10 (I think) ajmo0unts through the internet from all over the world.)
To: Reagan69
The VAT will tax the poor. How else can they tax the poor and get away with it?
To: Red in Blue PA
Because you have to spend money to bribe voters when you can’t naturally attract them.
68
posted on
04/07/2010 6:18:39 AM PDT
by
RWB Patriot
("Need has never produced anything. It has only been an excuse to steal from those with ablity.")
To: 2nd Bn, 11th Mar
"...U.S. citizens should consider tar and feathering Obama Economic Advisor for suggesting a VAT...."
U.S. citizens should consider tar and feathering Obama Economic Advisor for suggesting a VAT.
There. Your post needed a little adjustment. ;-)
69
posted on
04/07/2010 6:20:21 AM PDT
by
NCC-1701
(ZEROs FAVORITE SONG -- I, ME, MINE -- BY THE BEATLES)
To: Red in Blue PA
How about the gov. stops spending more money than they take in?
How about they eliminate agencies and programs we can't afford?
How about the next gov. flunky that mentions a new tax gets put up against the wall!
70
posted on
04/07/2010 6:20:32 AM PDT
by
Pietro
("I am not an idealouge" BHO; "I am not a crook" RMN)
To: Red in Blue PA
You create a deficient and then suggest a tax. Brilliant!!
To: raybbr
To: thethirddegree
The purpose of a VAT -- in addition to the obvious purpose of revenue collection -- is that it serves as a source of revenue that is very difficult for ANYONE (even criminals) to circumvent.
Competent accountants and lawyers can help their clients reduce their income tax burden. It isn't easy to do this with taxes that are embedded in the process of buying and selling (sales tax, motor fuel taxes, etc.).
73
posted on
04/07/2010 6:24:28 AM PDT
by
Alberta's Child
("Let the Eastern bastards freeze in the dark.")
To: Red in Blue PA
LONG LIVE THE FREE BLACK MARKET!!! Because that's where the free market will move to. It's starting already.
74
posted on
04/07/2010 6:24:34 AM PDT
by
Repeat Offender
(While the wicked stand confounded, call me with Thy Saints surrounded)
To: Red in Blue PA
"But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
75
posted on
04/07/2010 6:24:44 AM PDT
by
DTogo
(High time to bring back the Sons of Liberty !!)
To: thethirddegree
Canada has a VAT (They call it the GST) to fund their health care. It makes their goods and services significantly more costly than similar products here. As a result, store in Niagara Falls and Buffalo (other border cities, too, I'm sure, but I'm from Buffalo) are kept afloat from Canadians coming across to avoid the tax. They come over wearing old clothes, buy new ones in America, and leave, and change in the parking lots, often leaving the old clothes on the ground or in a garbage can. Then they brag about their 'free' health care.
The final costs can be significant. I talked to a manager of one store who claimed that a specific bra in her store costs $32, but in Canada, the same bra would cost $100. Now, I guess it was a special size, like an 'F' (I didn't even know that size 'F' existed), but still, you get the point.
76
posted on
04/07/2010 6:26:16 AM PDT
by
fhayek
To: RWB Patriot
77
posted on
04/07/2010 6:27:54 AM PDT
by
gathersnomoss
(General George Patton had it right.)
To: dan on the right
You're exactly right. That is precisely why -- back in 2006 or 2007 when the state of New Jersey was facing a serious budget deficit -- a
Democratic legislature and a
Democratic governor raised the state sales tax from 6% to 7% rather than increase the top income tax rates.
They may have been Democrats, but they knew damn well that squeezing revenue out of middle- and low-income residents was an absolute necessity.
78
posted on
04/07/2010 6:29:15 AM PDT
by
Alberta's Child
("Let the Eastern bastards freeze in the dark.")
To: Cyropaedia
Dr. Krauthammer has been saying it from the time the health care fiasco passed. We can be sure it will be added to the income tax, not replace it.
79
posted on
04/07/2010 6:35:07 AM PDT
by
midwyf
(Wyoming Native. Environmentalism is a religion too.)
To: Red in Blue PA
NATIONALIZED SALES TAX PAID TO OBAMA & CRONIES
IMPEACH OBAMA FIRE THE COMMIE LEFT WING FROM THE WH!
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