Pelosi says new tax is 'on the table' [A new value added tax (VAT).........]

The Hill ^

[Sub-Driver]

Pelosi says new tax is 'on the table' By Michael O'Brien - 10/06/09 10:59 AM ET

A new value added tax (VAT) is "on the table" to help the U.S. address is fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

"I would say put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the value-added tax has any appeal to her.

The VAT levies a tax on manufacturers at each stages of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their government provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the health care for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a health care component cost."

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the health care cost, that's one part of it," the speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate currently consuming most lawmakers' times, and that it may come as part of a larger overhaul to the tax code.

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

[Sub-Driver]

Just swell.........

[E. Pluribus Unum]

Would it be possible to defeat Nasty in the 2010 election?

[dead]

She wishes to see the destruction of the Great Satan and will do her bit to bring it about.

[kennedy]

Why not simply tax anyone who votes against them? You know that is what they really want to do.

Sure, there is that pesky Constitution thingy, but that shouldn’t stop them.

[noblejones]

Somebody throw nancy in Boston Harbor.

[RobRoy]

The good news is that since I make less than $250k I don’t have to worry about it!

/s

[RushIsMyTeddyBear]

Bloody hell. These people need to GO!!!!!!!!!!!!!!!!!!!

Last time I lived in the UK....the VAT was 17.4%. No telling what it is, now.

[RexBeach]

Yup. No tax is too big and no outrage is too small for these people.

They really think our money is theirs.

Putzes on parade.

[bamahead]

Libertarian ping! Click here to get added or here to be removed or post a message here!
(View past Libertarian pings here)

[kennedy]

"I would say put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the value-added tax has any appeal to her.

English Translation: "I've never met a tax I didn't like."

[Patrsup]

Actually a VAT tax will really kill the economy. It is only paid if you buy something so the way to avoid the tax is not to buy anything. The underground economy will flourish

I think there is only one quality worse than hardness of heart and that is softness of head. - Theodore Roosevelt

[CPT Clay]

VAT is only an option if the income tax is

[facedown]

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

That's true, only if they don't buy anything manufactured in America.

[Fresh Wind]

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

Well, there you go. Nothing to worry about.

[tje]

Man, between raising the minimum wage and now a VAT, we’re going to end up with more jobs ‘saved and created’ than we know what to do with.

[April Lexington]

The Federal government MUST be abolished! Return power to the people by straightening the states. Limit federal power or we will all be enslaved! WAKE UP OR GIVE UP.....

[Harley]

If they tax her botox, she’s screwed!

[hometoroost]

That is one seriously freakish looking face. Step away from the scalpel.

[Paperdoll]

That unpeakably poor excuse for a woman!

[Moonman62]

The only tax I’ll support is a tax on rich Democrats like Pelosi. 100% confiscation sounds about right to me.

[Sender]

It is becoming ever-so-evident that the Democratic strategy is to first get a signed blank check, then later shake down the funds.

Who pays the funds? It is I and thee.

[Army Air Corps]

They really think our money is theirs.

We are their ATM machine (or so they believe).

[learner]

“I would say put everything on the table and subject it to the scrutiny that it deserves,”

Is that like the scrutiny for the unread health care bill or is it the scrutiny that was voted down for the posting of the bill?

[JohnLongIsland]

Pass a VAT, and the state militias will surely march into D.C.

[safetysign]

Liberals all drive foreign cars.

[C19fan]

The main reason politicians love the VAT is most of the cost is hidden to consumers in the form of higher prices instead of the actual tax because it is levied at each stage of production. Say I buy a item for $100 at a retail store. The cost of item to the store might be $90 so at the register I pay say 10% VAT on ($100 - $90) = $10 so the visible VAT would be $1. The rest of the 10% tax is hidden in the higher sticker price of the item as those down the supply chain pass along the tax to those above them.

[BP2]

I smell the end of the Democratic Party ...

and the stench is overwhelming ...

[Dead Corpse]

Them thars figthin' words. You think the original Tea Party was bad? You think the Tea Party protests were bad?

Pass this. You'll see what "bad" really is...

[andy58-in-nh]

Somebody throw Nancy in Boston Harbor.

Trust me: it's polluted enough already.

[April Lexington]

Disgusting! Smelling the end of Bawny Fwank! Sheesh...

[GeronL]

does anyone really think the cost of healthcare will go down? When we levy several new taxes on it?

[Erik Latranyi]

For those that don’t know, a VAT is an insidious tax. It is levied on the value added by manufacturers to the materials they start with.

The consumer does not see this tax directly, they just see a price increase that is blamed on “big business”.

Calculating the added value is another area where a whole new bureaucracy is created to challenge companies’ self-assessed ‘value’ added to goods.

[GeronL]

imagine income tax plus VAT

[NoObamaFightForConservatives]

tax tax tax tax lie to people like they care=democrats

[listenhillary]

Why not just dole out printed money to each according to their needs and ban private ownership of anything?

I wonder if a VAT tax would push us over 65% of GDP flowing to the government rat hole?

[Mr. K]

yes! Just ask them how much they LOVE the GST (similar to VAT) in Canada!!!

Every time you go to the register they tack on a HUGE amount for GST

and they just love it to bits

The ‘fair tax’ people won’t want us to see that number though- they prefer the ‘tax inclusive’ price for the goods- so you can’t quickly figure out in your head how much tax you are paying (is it 27% or 34%? - ITS BOTH!)

They will tell you it is “the way OTHER taxes are caclulated” (but not sales tax! they don’t seem to see that)

And if you add a VAT tax you only have to call it a tiny tax (like 2.1%) but you add it at each step of the process where ‘value’ is ‘added’ to a raw materials to make a finished product..

YOU WANT TAXES TO BE AS VISIBLE AS POSSIBLE!!!!!!!!!!!

I would be for scrapping the entire tax code and letting us live on 100% corporate tax- they stupid people will never realize they are paying the majority of it!

[RushIsMyTeddyBear]

Ugh!

[Mouton]

Remember that sign from 9/12...this time we came without our guns. I think they better heed that one.

Vince

[Tarpon]

Peloser says lots of things ...

[so_real]

A new value added tax (VAT) is "on the table" to help the U.S. address is fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

Horse Pucky! Ditch the ENTIRE tax code and replace it with The Fair Tax. The current tax code is a rude dog that needs to be put back on a leash ... preferably one with a choke collar and We the People holding on to the rope.

The Fair Tax is the ONLY tax revision proposal that fully funds necessary government while returning some semblance of budgetary control back to We the People. Read up on it my FRiends -- NONE of us can afford a progressive income tax with a value-added tax imposed on top of it. We will only enslave ourselves to the rest of the world not imposing such tax liabilities.

[chuck_the_tv_out]

VAT MASSIVELY increases government control over every transaction.

VAT is like socialized medicine, they would want that anyway. They would never trade it for income tax though. Marxism REQUIRES taxation of employment.

[KoRn]

I know this is a senseless question in this day and age, but how could a “VAT” Possibly be constitutional?

They needed an amendment for the Income Tax. Would that amendment also allow for a “VAT” since the 16th only provides for a tax on income?

[cranked]

[tumblindice]

“part of a larger overhaul to the tax code”

larger overhaul=comprehensive tax code reform

Like `comprehensive immigration reform’ it seems that as
soon as they add a new tax/get amnesty you can be sure
they’re done with the overhaul/reform.

[thinking]

The speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

lol lol....where is the tax money coming from....

[EdReform]

Somebody throw nancy in Boston Harbor.

The resulting botox slick would devastate the environment for decades.

[Uncle Miltie]

This is impossible because 0bummer promised no new taxes on the Middle Class.

A VAT is nothing BUT a tax on the Middle Class.

[C19fan]

One can possibly argue it is an “income” tax beacuse it is taxing the income after costs each producer earns as a good works it way up the supply chain.

[BitWielder1]

The ONLY way I would support a VAT tax is if all other forms of taxation were abolished, permanently.
That means no more federal or state taxes, no more capital gains taxes, excise taxes, fees etc.
Otherwise, NO DEAL!

VAT is a tax on everyone, including the poor. That might finally stop them (and the dems)
from constantly voting themselves more benefits.
But on the other hand I'm sure Pelosi will add a paragraph about reimbursing low income people somehow.
Redistribute and Control!

[napscoordinator]

I would accept VAT ONLY if they do away with ALL other taxes. Since that will never happen, I am against it.