Taxes likely to rise eventually to tame deficit

Guardian.UK ^ | Tuesday April 6, 2010

[Bigtigermike]

The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

[andy58-in-nh]

We have a choice, and a clear one: remain free citizens of a limited Constitutional Republic whose laws we may not always agree with but must obey as along as they are consistent with their charter, or live as servants of a government exercising powers with which it is not endowed by its people, which is to say, powers that are illegitimate and to be opposed not merely as a matter of right, but of duty.

[Kozak]

I just got back from Italy yesterday. Prices are eye wateringly high. Largely thanks to the VAT. Lord help us if they add a VAT to our other massive taxes.

Oh yeah and EVERYONE in Italy cheats on their taxes. EVERYONE.

[Viking2002]

Published by that rat's nest, Reuters - figures. And I want that word 'entitlement' to be as toxic in the American lexicon as much as that boot-licker Volcker thinks that 'VAT' isn't. It should have the same visceral effect on the national soul as 'treason' or 'genocide'.

[broken_arrow1]

FU Heir Volker!

[MileHi]

Yep, that’ll fix it!

[Captain Peter Blood]

You could Tax all income 100% above $50,000 and it would not be enough. There is only so much money, they can't keep
putting taxes here and there. A VAT tax will be even worse. Do any of these DAMN idiots think of cutting spending?
The day is coming very soon when these decisions will have to be made and then lookout Entitlements will be cut.

[Diana in Wisconsin]

Lady! That should read:

“As long as they can pay for their beer and BRATWURST, they don’t care.”

*SMILE*

I agree. We’re going to have to fall a LOT further before the average schmuck gets even a HINT of a clue as to what’s going on.

I’m thinking the first time a few million people don’t get their welfare checks, and a few million Grandmas & Grandpas don’t get their SS checks on the first of the month will do the trick. ;)

[BluH2o]

I've said it many times in previous posts & others at FR have said the same thing ... a VAT is only a matter of time. After Obama health care passed it's just a matter of when ... it's inevitable.

[tobyhill]

http://www.youtube.com/watch?v=k_7WUugsWng

“not one dime”

[Sleeping Freeper]

The news of our immanent takeover continues. At this rate, we're going to fall faster than the USSR....

[denydenydeny]

Higher taxes will solve the deficit. Right.

Imagine a compulsive, degenerate gambler who’s $50,000 in debt to loansharks who are threatening his life. Imagine “solving” the problem by handing him $50,000 in cash on Super Bowl weekend.

That’s about how well tax increases would work to solve the deficit. The problem is not the deficit. It’s the degenerate, compulsive spending.

[HKMk23]

The day is coming very soon when these decisions will have to be made and then lookout Entitlements will be cut.

That day will never come.

It will never come because it has already passed. Well, except for the fact that entitlements didn't get cut.

Surprised?

Neither was I.

Don't worry, it's not as if you slept through CWII, or anything; THAT is still coming, at least, it is if God still makes Americans the same way He used to.

Anyway, you remember that old radio show, "The Shadow"?

"Who knows what evil lurks in the hearts of men? The Shadow knows."

the day is soon coming when, if The Shadow were a Leftist politician he'd be angling for a way to relocate -- to Mars.

[Oceander]

No tax hikes (neither in rates nor in the base) until spending has been cut to the bone, and beyond, first.

[BiggieLittle]

Entitlements will be cut and taxes will be raised. If somethings not sustainable it’s not sustainable.

[SunkenCiv]

Wow, I never saw that coming. ;’)

[Myrddin]

The U.S. should take a cleaver to entitlement programs and hack them into near oblivion. They are unconstitutional uses of money confiscated from the taxpayers. They are also bottomless pits. More taxation is not a solution. The politicians will spend everything they collect in taxes and more. The politicians have no self control. They need some harsh limits imposed to keep them in check.

[Tzimisce]

Great - I was just thinking taxes are way too low. :)

[Jane Long]

Can we quickly secede???

[LuvFreeRepublic]

Didn't Thomas Sowell just warn us in a great article that they were going to do this?

[Zman516]

What “Mother” Volcker and his comrades never will grasp is that jacking up taxes will result in less revenue collected as it suffocates economic growth.

Maybe these economically-challenged leftists will finally learn some basics.