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Well, we knew this was coming. How else will we pay for obama's massive spending?
What we need to be mindful of is the interim between the election and when a new congress takes over in January. If the dems lose the House/Senate, they just might try to push this through.
They most assuredly will do so if they lose control of either house of Congress. However, they won't attempt to do it before election day because they are in enough trouble with voters now.
The GOP cries about the deficit (only now of course) but also cries about ways to fix it. Is anybody really surprised?
Well, sure I'm surprised that they're considering a VAT.
After all, the healthcare reform will REDUCE the deficit.
The stimulus will STIMULATE.
The Bush tax cuts will expire, sending more to the coffers.
They're going to operate now on PAYGO.
So, according to Obama, the deficit will be reduced by existing measures already in place. Why place an additional tax burden on the American people is all of the above is true?
Hmm, Carter too far in the past, Clinton... not sure.
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Of course. And just who controls spending? Perhaps the senate and congress? Maybe you should take a look at the spending habits of the democratic senate and congress since WW2?
Now take a look at the rates of Democratic congress vs republican congress- a little different tale. The lowest growth in spending occurred with a republican senate and congress, and a democratic president. Grid lock is good.
Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'..TOLD YOU SO!
Quote:
Originally Posted by bentlebee
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.
The VAT suggestion was immediately met with outrage by Republicans.
"It shouldn't surprise anyone that the Obama White House would advocate a European-style tax to help finance their European-style government health-care plan," said Brian Walsh, a spokesman for the National Republican Senatorial Campaign Committee. FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'
I told you so....Obama loves Europe...please Obama move there and leave the good old USA as it is!
More businesses will go out of business!!!
The netherlands has VAT 19% on clothes, cars, gas, etc...
On groceries, 6%, also 6% on shoe repair, hair cuts, books, etc...
Newsflash!
We've had VATs on various items for decades. They haven't shut down any industries. You can relax and take a deep breath now.
How exactly did you think the record Bush deficits would be paid off? How exactly did you expect the feds to repair the economy?
I don't like paying taxes any more than you do. But I understand why this is necessary while you apparently think that it's just a pet project of Obama's. Please...
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Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'..TOLD YOU SO!
