An Endangered Species: True Fiscal Conservatives (Congress, Reagan, healthcare, wisdom)

[kovert]

Bartie, an old school Reaganite cat, argues not for small gov. out of slavish ideology but, for efficiency, in that a gov. pays for the services it provides.

Bartie is in favor of a VAT for reducing the deficit and financing universal healthcare.

Even one of Junior's former advisors is in favor of a VAT.

"But let's suppose that you are a conservative and you want the fiscal commission to succeed. You will have to agree to higher taxes as part of the bargain."

And they are not the only fiscal conservatives in favor of a VAT.

"No one I talked to succeeded in defeating it, other than mentioning they don't like the idea of more revenue for the government."

Of course true fiscal conservatives and the lunatic fringe cult of Beck that has hijacked their great name and legacy are 2 completely different species.

"The more necessary public spending seems to be, the more strenuously Republicans oppose it. The party’s political tactics are as hare-brained as its economics."

[Oerdin]

America does need to decrease consumption and increase savings & investment if it hopes to balance its trade deficit and its budget deficit. A VAT is a good way to make progress on those issues.

[lifelongMOgal]

A VAT is a great way to jump from the frying pan right into hyper-inflation.


Do away with the federal income tax (and IRS) and use a consumption tax instead. That way everyone who is in this coutry pays for services.

And CUT the frigging federal SPENDING down to the bare bones. NO NEW ENTITLEMENTS. No pay-raises for Congress. A federal hiring freeze. Remove over-burdensome regulatory restrictions that impede out ability to develope/produce our own energy resources as well as those that deter businesses and the jobs they bring to the US. We are not tax-freindly to private equity.

[kovert]

It is a shame both parties refuse to heed the financial wisdom of this elder.

[newonecoming]

Originally Posted by kovert

It is a shame both parties refuse to heed the financial wisdom of this elder.

Yip it is.

[maxxoccupancy]

Economists have studied the negative effects of various production and consumption taxes for years, and have found that one type of VAT--one based on invoices and credits--not only lets you raise a certain amount of revenue with the lowest possible rate, but they can be set up to be mostly self-enforcing. If we lifted the earnings cap on the payroll tax and enacted a VAT (roughly 8-10%), we wouldn't need the federal income tax. The wealthy would pay their fair share (25% is better than nothing), and we would pay a lot less in our mid- to low-income years. Very high income folks would no longer have such a strong incentive to keep so much of their investments tied up in tax shelters, and the nation would save hundreds of billions in accounting and tax compliance costs.

[kovert]

I'm not sure one can call this cat a fiscal conservative, but at least in this instance, he makes a lot more economic sense than the current lunatic fringe Beck led Formerly Known As Conservatives.

"Ideology is another explanation. Even a (Milton) Friedmanite free-trader should be able to see the disaster all around us and ask: What benefit does America receive from these mountains of imported goods to justify the terrible damage done to our country and countrymen? Can they not see the correlation between the trade deficits and relative decline?

Republicans seem certain to benefit from the nation’s economic crisis this November. But is there any evidence they have learned anything about economics from the disastrous Bush decade?

Do they have any ideas for a wholesale restructuring of U.S. trade and tax policy, for a course correction to prevent America’s continuing decline? Has anyone seen any evidence of it? "

[kovert]

Yes Virginia, there are a few true conservative radio disc jockeys and,....., gasp,...., they are open minded to boot.

[AuDiBelle]

Originally Posted by kovert

I'm not sure one can call this cat a fiscal conservative, but at least in this instance, he makes a lot more economic sense than the current lunatic fringe Beck led Formerly Known As Conservatives.

FYI, Beck is in favor of a VAT tax that went solely to pay down the deficit.

[kovert]

Originally Posted by whatyousay

FYI, Beck is in favor of a VAT tax that went solely to pay down the deficit.

Thanks for the info.