Posted on 05/27/2009 5:38:44 AM PDT by GreaterSwiss
With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.
Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.
At a White House conference earlier this year on the government's budget problems, a roomful of tax experts pleaded with Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama's policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate.
"There is a growing awareness of the need for fundamental tax reform," Sen. Kent Conrad (D-N.D.) said in an interview. "I think a VAT and a high-end income tax have got to be on the table."
(Excerpt) Read more at washingtonpost.com ...
Is it over yet? Make it stop!
“I think a VAT and a high-end income tax have got to be on the table.”
What’s the plan when the rich decide to pull up stakes and leave this country?
Well, you see, THAT'S when the government will build "the wall".
I figure, directly and indirectly, with all hidden taxes passed on to me, I am in the 60% bracket. So, of the money I have left, they want another 10%?
We need a revolt.
So now we’re getting a national sales tax AND keeping the income tax, too? Incredible.
“I think a VAT and a high-end income tax have got to be on the table.”
no mention of cutting spending?
Sure! That’s what Americans are clamoring for, more taxes! Let’s be more like those ultra sophisticated Europeans!
Guess what? There is no better way to put a freeze on consumer spending than a value added tax. Dumb idiots.
The leftists need to coordinate better. They are still reciting the “95% of taxpayers will get a tax cut” talking points.
The ultimate revolt would be to stop filing income tax returns. Stop sending the pukes more of OUR money.
What are they gonna do, send us all to the Gulag?
This is all the more reason why FairTax is such a great idea.
Don’t ever confuse how they tax us with how much they tax us.
This will be on top of the income tax if it’s being put forward by the commie rats.
Oh great! A national sales tax ON TOP of the federal income tax!
“The Road To Serfdom.”
It happened already but in the wrong direction.
No, the rich and the government team up to make the people slaves, which is what we have now. Why do you think the classic party of the rich, the investors class, the Republicans don’t fight?
You think people who are worth 10, 100, a billion dollars are going to take on Uncle Sugar and lose it all ....FOR YOU?
Come on. Get real.
All the rich want is a heads up so that they can dump their assets being destroyed in value, before the public knows it, and buy the new assets before the government drives like cattle customers to it. Like GE with its support of Cap and Trade. GE wants to be first, then after making the investment, push Cap and Trade on its TV stations and support politicians to make its investment come true.
Drop the income tax, cut spending, and put a national sales tax of 10%, and thats IT for taxes, I am all for it. Add it to the already levied taxes and fees we currently pay, and I think it may be the catylist to a revolt. Too many of the rich will leave, and I don’t blame them. Soyent green should be re released in theaters nationwide........
these tax and spend demoncRATS are like Wiley E Coyote falling off the cliff hitting bigger and bigger things on the way down only to go splat on the black top and then hit by a truck with their never ending desire to add new tax upon new tax on Americans. When will the brain dead American people who vote for these loons wake up and end the madness by voting these idiots out of office?
*catalyst
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