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 ...
It’s only the beginning of the end.
They are moving to Texas in droves.
Errrr... We the people, are broke you asshats!!!
Question: Who are ‘the rich’ you’re talking about?
They don’t want one or the other. They want both of these and any others they can dream up.
These people are insane.
This is NOT a good thing. This is in ADDITION to all the taxes we already pay.
Figures. The Democrats take a good idea (tax consumption rather productivity) and pervert it.
See, somehow I thought BO wasn’t going to raise taxes on people making more than $250K a year. Hm.
And isn’t that a scary thought. Or super-confiscatory policies for your retirment bucks and other savings....
The wealthy will stay in this country, enjoying relatively low rates of taxation.
It's high income professionals that will be paying more in taxes.
It’s only the beginning of the end.
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I just refuse to believe that. I’m not ready to give up yet. But it’s not easy that’s for sure. I guess the good news about my income dropping by 40% (Commission Sales)is that 10% of 40% less is, well less.
Just silently include it in the price and make it illegal to include the VAT as a separate line item on the final sales receipt. Most of the sheep will just blame businesses for increasing prices.
The VAT will also allow the government to open the lobbyist auction for which items should be covered by the VAT and which shouldn't. Congress will be rolling in "donations" from various industries to get a better tax rate.
If there is a consumption tax then it must be included as a separate line on the receipt, preferably in a font bigger than any other text. I want to rub the taxpayers' noses in the amount they are paying. Also, one single rate for every item and service, no exceptions or difference it rates. The tax is for collecting money, not for social engineering. Then dump the hundred and one other taxes (especially income, SS and Medicare) so that taxes can't hide. Hmm, this is sounding awfully like the FairTax.
“””They have no intent to “fix” anything.”””
The “fix” here is to transition us into a socialist state
Nothing will hand the GOP victories faster than this.
You do understand that ACORN got a billion dollars to perpetuate vote fraud in favor of the Democrats, right? What makes you think that any future election will be even remotely fair?
OMG...these people are completely out of control!!
Very Scarey!
That makes too much sense, never happen.
Governments don't make money, they are given money by the governed to run the government. As government becomes more and more tyrannical, they confiscate money because they want more than the governed want to give.
Saying that government makes money is ludicrous.
I didn’t say anything about giving up. I am commanded to occupy until He comes - and I will. I’m simply reading the signs.
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