Posted on 04/06/2010 6:27:17 PM PDT by GreaterSwiss
Volcker: Taxes likely to rise eventually to tame deficit
NEW YORK (Reuters) - 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.
(Excerpt) Read more at reuters.com ...
Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax “was not as toxic an idea” as it has been in the past and also said a carbon or other energy-related tax may become necessary.
hey dufus (not you swiss), these taxes kill the economy and wont help pay the deficit.
Oh yeah they know that already.
LOL. How will raising taxes help when for every dollar collected the government spends $2 or more?
Memo to Herr Volcker,
It is the spending, stupid.
Why not cut government by 40%?? hummmm?
it’s time to put the Federal Government on a fiscal diet.
A VAT is a backdoor inflation tax.
They can try to raise taxes, but they’ve reached the end of their rope. Any tax increases will just result in a political backlash at this point.
Where were you last Fall and Winter, hotshot, when the American economic system was being anally raped by your pal the Usurper? Didn't have a F*ing word to say, did you, Volker, you shithead. Time for you to die now, asshole, of natural causes of course. AMF.
Paul Volcker, a Democrat,[5] was appointed Chairman of the Federal Reserve in August 1979 by President Jimmy Carter and reappointed in 1983 by President Ronald Reagan.[6]
Volcker’s Fed is widely credited with ending the United States’ stagflation crisis of the 1970s. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983.[7]
The federal funds rate, which had averaged 11.2% in 1979, was raised by Volcker to a peak of 20% in June 1981. The prime rate rose to 21.5% in 1981 as well.
Volcker’s Fed elicited the strongest political attacks and most widespread protests in the history of the Federal Reserve (unlike any protests experienced since 1922), due to the effects of the high interest rates on the construction and farming sectors, culminating in indebted farmers driving their tractors onto C Street NW and blockading the Eccles Building.[8]
Will this be zeros “read my lips; no new taxes” moment?
ROTFLMAO at the fools who believed the Kenyan guy.
Yup, cause most of America is sizing up the situation already. Their talking to their neighbors, questioning how long this can last. Their asking themselves the hard questions; how long can I last? These are ordinary spoon fed nightly news types and they are getting it. What they make is fodder for the juggernaut that is Federal Government and the Gubermnint wants what is John Q. Public's to give to Paul (read socialist rats) and I think their finally getting tired.
buying in advance would cause growth before it shuts off.. institute a vat to happen after the election, before it everyone buys like crazy...
Alright! More taxes!
I hate my money! Please take it from me! :)
/sarc
“Hope and Change” = more taxes.
He is an idiot. You cannot tax enough to satisfy a Rat’s ability to spend.
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