Posted on 04/21/2010 3:00:10 PM PDT by Nachum
WASHINGTON (AP) - President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.
Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, "I want to get a better picture of what our options are."
(Excerpt) Read more at breitbart.com ...
The best suggestions are all in the Constitution. Starting with that in mind, one could make up quite a list.
VAT is the most toxic tax there is. Taxation at every step of production is not only abusive, but in the end it will spur even more purchasing of foreign made products.
Obama doesn’t even have the class to end this nation quick. He wants it to suffer a slow ugly painful death.
I think I remember that Europe does not tax exports, only domestically sold and produced items. This lowers consumption and would not hurt the export industry. But like you say, what about imports? Good question.
In any case democrats are not seriously considering this VAT now. Their plan is to wait till crushing debt kills economy for public opinion to change. Meanwhile Obama will go into 2012 saying he tried to fix deficits but republicans opposed a plan to fix it (the debt commission) . That is my guess anyhow.
You disagree that liberals don’t constantly think about how to raise taxes!!???!! How is the fact that libs have planned for vat or other taxes inconsistent with the idea that they’re always scheming to raise taxes?
Before deciding what revenue options are best for dealing with the deficit and the economy, Obama......should not have proposed a buster budget in the first place, then piled on more and more, and continue to in the form of more taxes and cap-and-tax. Nice that the partisan media shills continue to give him a forum. Thanks Nachum.
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