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 ...
Zero and Gibbs:
“See, these stupid “Tea Baggers” did not realize they got taxes back....”
This is very painful, especially when I talk to my friends that work for the government... they continue to say “We have to pay off the mistakes of the previous administration some how...”. Please, move on....
This has gone beyond the “see, I told you this administration is bad...” to, please stop this, I can’t take it anymore!
This is a big lie. There is nothing visible about a VAT.
Liberal insanity... ugly and dumb.
Excellent post.
This is my rallying cry:
1. Stop SPENDING our money (except on national defense)
2. Stop SENDING our money abroad
3. Stop TAKING our money
It’s funny how the simplest of rules are the hardest to follow.
The tax may not be visible, but boy, those consequences sure will be!!! Riots in the streets, ‘disgruntled youths’ torching cars, cats and dogs living together—CHAOS!!
Which is exactly what some of these domestic terrorists want, but thank GOD the majority of Americans don’t!
But touch someone’s wallet or pocketbook, boy, you had better watch out or you’ll pull back a stub, like my daddy used to say!!
Oh look, another article reminding me it’s time to buy more ammo.
Shoot, you gun clingers shure are funny! ;-)
Well, maybe. But their hope is that through the VAT they can avoid all that. The tax is invisible to the consumer.
We will get what we always feared, both an income tax and a sales tax.....
Those ultra sophisticated Europeans are paying 18% sales tax. In my old country at least. We’ll get up to that too. Just wait. Socialism is a lovely concept, don’t you think? /s
Welfare folks exempt??
It will be visible as hell once people understand why prices are going up.
Yes, but even the dumbest neandertal out there will notice prices jumping up drastically, while their paychecks stay the same—I remember inflation from years ago, and while the majority of Americans apparently have a very short memory about it, they WILL wake up when they find a loaf of bread costing $5 and a gallon of milk costing $10!
I’m telling you, there will be riots. I may start buying stock in sign making materials because there’s going to be a run on Home Depot and Lowe’s to make “IMPEACH OBAMA NOW!” signs for those riots! ;-)
A good example of a fairer flatter tax would be close to what the Republicans are pushing for now, a voluntary two tier tax. 10% on all income up to $100,000 and a 25% tax on all income above $100,000. This coupled with generous personal deductions of around $12,500 per family member linked to inflating would allow a family of 4 who gross $100K pay 10% taxes on $50,000 after personal deductions.
This plus a massive overhaul; of government workforce, including the privatization, an outright elimination of large swaths of the federal government would solve many of the problems
Sorry, Sam, have you paid your extra taxes for ammo (not to mention the registration fee and individual bullet taxes for cataloging each individual bullet with the state, local and federal authorities) AND for the higher cost of registering your guns with the local, state and federal gubmint?! ;-)
[runs]
It is too late, hard to come by any if at all.
Awaiting another 500 rds of 9MM Speer Gold Dots today though.
Vince
I know "FairTaxers" all over America, and none of them that I'm aware of supports a VAT.
As for me, I'll oppose a VAT just as strenuously as I oppose the current Stupid Tax.
Close the borders........................
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