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.

[jazzlite]

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.

[concerned about politics]

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.

[Scotswife]

I have a better idea - howzabout we repeal Obamacare so we won’t need the flippin’ VAT?

[Obadiah]

Or a racist.

[RWB Patriot]

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.

[hal ogen]

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.

[screaminsunshine]

The VAT will tax the poor. How else can they tax the poor and get away with it?

[RWB Patriot]

Because you have to spend money to bribe voters when you can’t naturally attract them.

[NCC-1701]

"...“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. ;-)

[Pietro]

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!

[Sacajaweau]

You create a deficient and then suggest a tax. Brilliant!!

[glassylassie]

$19.99 at K-Mart in CO.

[Alberta's Child]

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.).

[Repeat Offender]

LONG LIVE THE FREE BLACK MARKET!!!

Because that's where the free market will move to. It's starting already.

[DTogo]

"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."

[fhayek]

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.

[gathersnomoss]

Surprise, surprise. How much is it going to take?

“And if you go carrying pictures of Chairman Mao
You’re not goin’ to make it with anyone anyhow”

http://www.youtube.com/watch?v=Imb4tYOk8GE&feature=related

[Alberta's Child]

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.

[midwyf]

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.

[Dubya-M-DeesWent2SyriaStupid!]

NATIONALIZED SALES TAX PAID TO OBAMA & CRONIES

IMPEACH OBAMA FIRE THE COMMIE LEFT WING FROM THE WH!