Posted on 04/26/2010 2:39:23 PM PDT by Nachum
(CNSNews.com) – When President Obama asked former Sen. Alan Simpson (R-Wyo.) and Democrat Erskine Bowles to chair his debt commission in February, he told them to consider any and all ways to reduce the federal deficit – including new taxes, apparently.
Bowles, a former chief of staff in the Clinton White House, told Fox News Sunday that “the president looked Senator Simpson and me in the eye and he said, ‘Everything is on the table.’ So we are going to look at every single way to right this fiscal ship,” Bowles said. That includes cutting “sacred cows” and raising revenue, he added.
(Excerpt) Read more at cnsnews.com ...
Why can’t they just call it a sales tax. That is the term the masses understand. People will never understand VAT, but they will shriek at sales tax.
Every tax is a value added tax. Every tax is passed onto the consumer and adds value to the product being purchased. Therefore, all taxes are value added taxes.
After the VAT, watch for the AT (Asset Tax). An Asset Tax would tax everything you own. They could tax your car every year, your boat, your furnature, you jewlery, etc, etc, etc.
Ouch. Hadn’t heard of that one.
How many will NOT buy those goodies anymore?
I refuse to buy anything I can do without. It’s the principal.
0 spent all our money, now he wants more. SY0
“After the VAT, watch for the AT (Asset Tax). An Asset Tax would tax everything you own. They could tax your car every year, your boat, your furnature, you jewlery, etc, etc, etc.”
It’s all in the plan. First the huge programs and deficits, then the dollar crash, and then the international demands that we end our deficits one way or another...and guess which way.
What chaps my butt is that this will be in ADDITION to Federal and State income taxes. My pocket are empty!
And, you can bet that none of the new revenue will go to the debt. It will go to additional social spending.
The only thing that will be cut will be the military and funding for LEO’s/Firefighters.
Exactly, bet you $$$$ NONE of the depts get cut. (EPA, EDU etc)
Military and Social Security are the favorite targets. Never the agencies that go after the taxpayers.
What do you bet Homer Simpson is also an (R)???
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