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Volcker: Taxes likely to rise eventually to tame deficit
Reuters ^
| 4/6/2010
| Steven Johnson
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 ...
TOPICS: Breaking News; Business/Economy; Front Page News; Government
KEYWORDS: 111th; 2010; agenda; bhosocialism; bhotaxincrease; capandtax; defensecuts; deficit; democrats; elections; globalwarming; liberalfascism; lping; obama; socialism; spreadthewealth; stealthewealth; tax; taxcheatparty; taxes; volcker
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To: GreaterSwiss
Paul, fat drunk and stupid is no way to spend your senior years.
61
posted on
04/06/2010 8:05:13 PM PDT
by
Jolla
To: GreaterSwiss
"Volcker: Taxes likely to rise eventually to tame deficit"Hey Volcker you moron how about this head line... "Spending likely to fall DRAMATICALLY AND IMMEDIATELY to tame deficit" Any person having the slightest claim to rationality would prefer the later.
62
posted on
04/06/2010 8:21:49 PM PDT
by
Desron13
To: GreaterSwiss
Volcker: Taxes likely to rise eventually to tame deficitA far better way to tame the deficit would be to cut spending. Volcker has got to know that government will be hard pressed to collect more than 20% of GDP, and raising taxes will do nothing to increase that percentage.
63
posted on
04/06/2010 8:25:00 PM PDT
by
Hoodat
(For the weapons of our warfare are mighty in God for pulling down strongholds.)
To: GreaterSwiss
One can raise taxes to meet government expenditures...
...or one can cut government expenditures to meet revenue.
I prefer to cut government.
64
posted on
04/06/2010 8:26:51 PM PDT
by
gogogodzilla
(Live free or die!)
To: FlingWingFlyer
I just finished up with my tax accountant. I was shocked to discover that I am in the top 5% since my taxes did indeed go up.
65
posted on
04/06/2010 8:27:18 PM PDT
by
Hoodat
(For the weapons of our warfare are mighty in God for pulling down strongholds.)
To: GreaterSwiss
The commie b@stard.
Any new taxes will tip the scale to revolution.
66
posted on
04/06/2010 8:30:41 PM PDT
by
Mariner
To: GreaterSwiss
I do not approve of Volcker's suggestion, mostly because historically everyone knows higher taxes on income end up hampering economic growth.
I prefer this solution:
67
posted on
04/06/2010 8:31:33 PM PDT
by
RayChuang88
(FairTax: America's economic cure)
To: GreaterSwiss
68
posted on
04/06/2010 8:32:31 PM PDT
by
bergmeid
(Fumigate Washington NOW!!)
To: Mariner
There won’t be any revolution. But as sure as tomorrow follows today, taxes will skyrocket. How they will be paid by people with no jobs and no money? I don’t know. the sobs that voted for obama can figure it out.
69
posted on
04/06/2010 8:34:09 PM PDT
by
sport
To: hinckley buzzard
70
posted on
04/06/2010 8:34:09 PM PDT
by
bergmeid
(Fumigate Washington NOW!!)
To: dhs12345
Count on a VAT level of 19% to start off with.
71
posted on
04/06/2010 8:35:27 PM PDT
by
bergmeid
(Fumigate Washington NOW!!)
To: GreaterSwiss
This will be Obama’s version of the Fair Tax - a sales tax in addition to everything else.
To: Desron13
Does anyone else here feel like they're living in the last chapters of freakin Atlas Shrugged? Seriously people, this is getting completely insane! I have come to the increasingly inescapable conclusion that the idiots in Washington are intentionally destroying this country so they can remake it into the delusional paradise, Through the Looking Glass world, that their fevered little minds have been contemplating since their parents failed to provide them with a perfect world from birth.
73
posted on
04/06/2010 8:40:41 PM PDT
by
Desron13
To: steelyourfaith; xcamel
Volker is also hinting at a carbon tax, which goes further than cap and trade. There would be a cap and trade system, and the permits are SOLD by the govt at an ever increasing rate and scarcity evenly to each company within a field. Furthermore, each transaction of a carbon credit is taxed, so the govt makes money there as well. This means much higher energy rates.
74
posted on
04/06/2010 8:42:03 PM PDT
by
Thunder90
(Fighting for truth and the American way... http://citizensfortruthandtheamericanway.blogspot.com/)
To: GreaterSwiss
Another person opining after the fact, but was silent while all this was happening.
Can we have a law against ex post facto pronouncements?
-PJ
75
posted on
04/06/2010 8:42:30 PM PDT
by
Political Junkie Too
("Comprehensive" reform bills only end up as incomprehensible messes.)
To: Hoodat
Don't get me started. LOL!
My wife and I failed to increase our witholding after the Kenyan guy gave us that fabulous "tax cut". Didn't think is was that big of a deal since we also got a hopey/changey pay cut. Big mistake. oy.
76
posted on
04/06/2010 8:44:13 PM PDT
by
FlingWingFlyer
(Dude! Where's my Constitution!)
To: rdl6989
“...wait for it...wait for it...”
77
posted on
04/06/2010 8:52:49 PM PDT
by
rlmorel
(We are traveling "The Road to Serfdom".)
To: sport
Atlas Shrugged in a nut shell...
Looter to Producer: You have to produce more so I can transfer your productivity to the Moochers and stay in power.
Producer to Looter: No
Looter to Producer: Produce or I will take your life.
Producer to Looter: That may be true but then the Moochers will rise up and kill you to before they perish in their own incompetence and ignorance.
Looter to producer: But don't you care about the Moochers?
Producer to Looter: Nope
78
posted on
04/06/2010 9:05:15 PM PDT
by
Desron13
To: rogertarp
Oh no.. you can’t do that. Someone’s entitlements might get cut!
79
posted on
04/06/2010 9:24:29 PM PDT
by
jerry557
To: Desron13
Did I for get to add... GAME OVER MAN, GAME OVER!
80
posted on
04/06/2010 9:36:08 PM PDT
by
Desron13
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