Posted on 04/07/2010 4:37:00 AM PDT by Red in Blue PA
Acknowledging it would be a highly unpopular move, White House economic adviser Paul Volcker said yesterday the United States should consider imposing a "value added tax" similar to those charged in Europe to help get the deficit under control.
A VAT is a national sales tax that, like state and city sales taxes, would be collected by retailers.
Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy.
(Excerpt) Read more at foxnews.com ...
Having "tried and failed to get a bipartisan solution to the debt crisis" the administration will then feel free to solve it by massive dollar devaluation.
I believe you mean “Market of Color.”
DUmmies are having a fit about this. They don't want to have to pay for anything. They want everyone else to pay.
It's all fine and dandy to them when other people are enslaved, but when it finally comes down to them it's a different story. Obviously, they don't understand the Marxism they voted for.
a word comes to mind....and it sounds oddly similar to “Volcker”....
Nice job back there in November 2008 America!
How's that "history" workin' for ya now?
‘After VAT was first introduced, a survey was conducted by Alan S Tait on its impact in several countries on the basis of International Monetary Fund data, which shows that VAT is never introduced in isolation.”
Uh huh. And what does the OTHER shoe of the taxation drunken brawl look like?
Let this monstrosity go broke. Feeding the beast has gotten us where. Let’s make it so risky to buy US debt that we can never borrow again.
I never took economics courses, but further taxing retail purchases will certainly lower sales and keep the economy down. It will also make American products less competitive, with every phase of production inflated in price from what it used to be. Will this same VAT system be imposed on products made in China?
VAT is not a sales tax.. it is worse. It is collected throughout the whole manufacturing process.
Just watch, his record of working for Reagan will be all over the MSM today to blunt the negative responses.
We won’t even be able to afford a loaf of bread!
There ya go, making sense again!
"A measure of wheat for a penny! A measure of wheat for a penny."
A penny was a full days wages, and a measure of wheat was one loaf of bread.
If you look back at all the socialists leaders before our current one, you'll see that millions of people were left to starve to death. Political power was more important than millions of human lives.
Yes, I do thank you. And, it is the market I'd most likely use..... in the name of diversity of course!
I’m going to make a list of anything I might need in the next several years that I can buy now. Couch...rug...sneakers..etc. mmmmm....maybe that is their plan to stimulate the economy, scare everybody into spending now to avoid the VAT later.
He also recommended a “Carbon Tax” scheme, increased gasoline taxes, Cap and Trade with a carbon tax, and increased income taxes. Volker also recommended defense cuts.
Why of course, no need being seen as racist, after all, diversity is what we’re all about.
I haven’t though of that passage in a few years. My oh my, where are we going, and how long ‘til we get there?
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