Posted on 04/21/2010 9:40:47 PM PDT by Steelfish
Obama Suggests Value-Added Tax May Be An Option
By CHARLES BABINGTON Apr 21
WASHINGTON – 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."
After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding "sense of the Senate" resolution that calls the such a tax "a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery." For days, White House spokesmen have said the president has not proposed and is not considering a VAT.
"I think I directly answered this the other day by saying that it wasn't something that the president had under consideration," White House press secretary Robert Gibbs told reporters shortly before Obama spoke with CNBC. After the interview, White House deputy communications director Jen Psaki said nothing has changed and the White House is "not considering" a VAT.
Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill's production work and so on up the line to the retailer. In the CNBC interview, Obama said he was waiting for recommendations from a bipartisan fiscal advisory commission on ways to tackle the deficit and other problems.
(Excerpt) Read more at news.yahoo.com ...
NO No NO!! Not cat’s meow! Cat dung!
Yep, a two line VAT Refund Form:
____________ How much VAT did you pay?
____________ Race?
“not one dime”....
Charles Krauthammer wrote last month, "as the night follows the day, the VAT cometh."
Right again.
He is a Fascist not a Socialist. He can take his VAT and stick it where the sun don’t shine. F this guy he is an a**hole and not even an American citizen.
I would love to have someone with a lot more legal horsepower than I comment on the legality of a VAT vs. the language congress used in setting up Roth IRAs.
The promise was advertised in layman’s terms as: “Pay tax on this money once, and no matter how much it grows over time the Feds will never tax you on it again.” Clearly a VAT is a violation of this promise, but I am certain that the Feds have always maintained some sort of sleazy legal hairsplitting way to get around their promise...
Bunch of amateurs.
Obama had full loyalty of the 50% who pay zero income tax.
Now a VAT will tax them, his most loyal supporters who thought that Obama would keep them immune from any taxes.
But the republicans and their incompetence will somehow find a way to rescue Obama from his own stupidity.
So don’t expect this VAT will end up hurting Obama in any way.
Not gonna be a tax on the poor. Obamma will structure it such thatpeople earning below a certain threshold will receive a so-called refundable tax credit of thousands of $ to make them whole.
As usual, the producer class will be burdened with this.
Does he want democrats to lose big in November?
It’s hard not to think so.
Translation: The Kenyan wants VAT so hard it makes his legs wobbly.
As usual, the producer class will be burdened with this.<<<
Well the producer class had better stand up and tell this facist government that we are not going there and they had better stand down because we are going to rid ourselves of these vultures once and for all!!
The International Monetary Fund has put out the word that developed countries have to cut their debt.
It means countries like the UK and US have to raise taxes for sure.....
The only thing we don’t know is how the politicians will try to pull it off.
Duh’bumba and his butt-boy Volker can KMA!
Not only that but we pretty much know they’re going to come back recommending a VAT and Obama will go for it. It’s just part of why the 2010 elections are so important.
Every country with a VAT from Greece to Great Britain also has a debt problem.
DC does not have a tax collecting problem, it has a spending problem. Until we fix that problem no amount of new revenue will be enough. No matter how much more money you give DC, the politicians always can find more "need" to spend it then you have money to give.
A VAT is as good a deal for Congress as “HealthCare”..
In fact, WITHOUT a VAT they really CAN”T begin to fund “HealthCare”....and Congress needs to have its toys to play with!! Oh yes we’ll get a VAT....
It’s long past time to acknowlege that Obama’s true Marxist diktat is simply this: that everything is the property of the State, and anything the proles are allowed to keep for themselves as the fruits of their labor is utterly at the whim of State apparatus.
“From each according to his ability, to each according to his needs.”
From the flames, Lenin smiles up at Obama’s administration.
Fascism, Socialism, Communism, Marxism, they’re all from the same general branch of ideas.
Fascists are just socialists that pretend people actually own private property. They have no problem with the state running companies overtly or through mountains of government regulation. One way or the other the state controls your business.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.