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Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax' (Here it comes!)
Foxnews ^ | 4/7/2010 | Staff

Posted on 04/07/2010 4:37:00 AM PDT by Red in Blue PA

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.

(Excerpt) Read more at foxnews.com ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: 111th; bho44; bhoeconomy; bhofascism; bhosocialism; bhotyranny; capandtax; democrats; economy; globalwarming; liberalfascism; obama; socialism; taxes; taxincreases; tyranny; valueaddedtax; vat; volcker
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1 posted on 04/07/2010 4:37:01 AM PDT by Red in Blue PA
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To: Red in Blue PA

New taxes on everything are coming

and still the budget won’t balance, when for every two dollars spent one is borrowed!!!!!!!!!!!!!!!!!!!!


2 posted on 04/07/2010 4:39:10 AM PDT by DontTreadOnMe2009 (So stop treading on me already!)
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To: Red in Blue PA

If I remember my economics courses correctly, a tax on retail purchases will tend to depress retail sales, further depressing the economy and killing jobs.


3 posted on 04/07/2010 4:39:12 AM PDT by thethirddegree
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To: Red in Blue PA

In Brazil, a 16 GB USB stick is about $100. Here, it’s about $10.

We will be seeing the same kind of prices here, soon.


4 posted on 04/07/2010 4:39:31 AM PDT by Westbrook (Having more children does not divide your love, it multiplies it.)
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To: Red in Blue PA

“Congress might also have to consider taxes on carbon and energy...”

What a bunch of arrogant scu&bags.

IMHO


5 posted on 04/07/2010 4:40:17 AM PDT by ripley
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To: Red in Blue PA
Taxed

Enough

Already?

6 posted on 04/07/2010 4:40:29 AM PDT by raybbr (I hate B(ig) H(ead) Obama)
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To: DontTreadOnMe2009; All

Everyone needs to read this post:

http://www.freerepublic.com/focus/news/2487781/posts?page=74#74


7 posted on 04/07/2010 4:40:36 AM PDT by Red in Blue PA (Thinking of using 911 for protection? Google "Brittany Zimmerman")
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To: Red in Blue PA

Better yet, America should slash Federal spending.


8 posted on 04/07/2010 4:41:21 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Westbrook
In Brazil, a 16 GB USB stick is about $100. Here, it’s about $10.

Where? The best price I've seen on a 16G stick is about $35.

9 posted on 04/07/2010 4:41:30 AM PDT by raybbr (I hate B(ig) H(ead) Obama)
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To: Red in Blue PA

It would be like giving an out-of-control drunk the keys to a liquor store.


10 posted on 04/07/2010 4:42:51 AM PDT by Haiku Guy (Gov. Chris Christie (R) won the NJ-6 held by Rep. Frank Pallone (D) by a 15.5% margin!)
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To: Red in Blue PA

“Read my purple lips, no taxes on the middle class...”

We have got to get this communist jerk out of power !


11 posted on 04/07/2010 4:44:32 AM PDT by Reagan69 (WHEN THEY COME FOR YOUR GUNS, GIVE THEM THE AMMO FIRST.!)
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To: Red in Blue PA

Ain’t it just great living in an upside down universe where every suggestion, every move, every single desire of the ruling class, is in a direction exactly opposite to every known law of economics, progress, and growth.


12 posted on 04/07/2010 4:44:58 AM PDT by wita
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To: Red in Blue PA
Krauthammer and Hume were right!

They predicted this crap!

13 posted on 04/07/2010 4:45:45 AM PDT by Cyropaedia ("Virtue cannot separate itself from reality without becoming a principal of evil...".)
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To: Red in Blue PA

My response to this headline:

“U.S. citizens should consider tar and feathering Obama Economic Advisor for suggesting a VAT.”


14 posted on 04/07/2010 4:46:21 AM PDT by 2nd Bn, 11th Mar (The "P" in democrat stands for patriotism)
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To: Cyropaedia

Yup. When Krauthammer said it, I cringed, yet knew in my heart that he was right. They are already floating trial balloons for this nonsense.

WHy is cutting the deficit never an option?


15 posted on 04/07/2010 4:46:49 AM PDT by Red in Blue PA (Thinking of using 911 for protection? Google "Brittany Zimmerman")
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To: Red in Blue PA
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.

No, absolutely wrong! Taxes hurt the economy and adding or increasing taxes is a sure job-killer. What they should, no, must do is cut spending. DC must cut spending because their current spending spree is bankrupting the Country. They cannot raise taxes enough to cover their spending without totally destroying the economy and sending us into a depression. The Federal Government needs to quit spending, well, wasting our money on activities it has no business doing, and no Constitutional leg to stand on.

16 posted on 04/07/2010 4:50:04 AM PDT by ThunderSleeps (obama out now! I'll keep my money, my guns, and my freedom - you can keep the change.)
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To: Red in Blue PA

This is a GREAT danger that has been part of a trial baloon for the past year.

People as varied as O’Reilly, Pelosi, and now Volker have spoken in favor of it.

In brief, it is giving more of our money to the ignoramuses who have proved completely INCOMPETENT with what they have.

It is beyond the pale. There’s no way all of government, to include state and local, should exceed 20% for any American. The VAT will push them near 70%.


17 posted on 04/07/2010 4:53:13 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who support our troops pray for their victory!)
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To: raybbr

Another day another outrage from this pofs marxist communist radical admn.


18 posted on 04/07/2010 4:53:21 AM PDT by GlockThe Vote
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To: Red in Blue PA

How about a tax on Barky’s mouth ?


19 posted on 04/07/2010 4:53:45 AM PDT by Eric in the Ozarks (Impeachment !)
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To: Red in Blue PA

U.S. should consider repealing the interstate commerce clause.


20 posted on 04/07/2010 4:53:48 AM PDT by Nickname (2012 - Yes You're Canned!)
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To: Red in Blue PA
It doesn't matter where they come from...sucking taxes (capital) from a faltering economy is like bleeding fluid from an already weak hydraulic system (think backhoe).
21 posted on 04/07/2010 4:56:59 AM PDT by SonOfDarkSkies (Obama: "Lawless...with all power, signs and lying wonders")
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To: Red in Blue PA
The $hitheads in DC have given away all of our money and then some. Taxes are their only answer. If a VAT is added to the tax system American manufacturing in done.
22 posted on 04/07/2010 4:57:16 AM PDT by KSCITYBOY
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To: KSCITYBOY

And say Goodbye to the “Consumer economy”.

Without consumers spending, theis country is doomed. We are now at that point.

These people in DC have no clue and they are our so-called leaders. How did we get here?


23 posted on 04/07/2010 4:58:59 AM PDT by Red in Blue PA (Thinking of using 911 for protection? Google "Brittany Zimmerman")
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To: Red in Blue PA

As I said earlier I saw on Fox that the Dems and Obama are now pushing for the Treasury Secretary to have “extraordinary powers”

Meaning.. if he “deems” a company struggling or “too big to fail”

He can take it over or shut it down.

They said who would want to be a Republican owning a business if a Democrat President can simply shut your company down?


24 posted on 04/07/2010 5:01:02 AM PDT by ConservativeMan55
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To: ThunderSleeps
“Taxes hurt the economy and adding or increasing taxes is a sure job-killer.”

Do you really believe for one moment that “they” don't know that? Have you seen one single action the DemonRATs have taken in the last 20 years that was aimed at anything other than giving “them” more control? Socialists, Marxists, Communists, Environmentalists, whatever you choose to call them, they are bent on destruction of Capitalism and Free Enterprise. Don't fall for the trap that “they” are misguided. This is a purposeful, sustained attack from within, and should be dealt with as severely and forcefully as one would deal with any traitorous entity or person.

25 posted on 04/07/2010 5:01:13 AM PDT by bitterohiogunclinger (America held hostage - day 393)
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To: Red in Blue PA; Springman; Bahbah
FNFs were all over this this morning.

This guy way have been right on the money.

26 posted on 04/07/2010 5:01:14 AM PDT by McGruff (Don't criticize. Explain to me who I should support other than Sarah Palin.)
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To: Red in Blue PA

What we need is a law that makes introducing new taxes as a treasonable offense on the part of the legislator foolish enough to sponsor the bill.


27 posted on 04/07/2010 5:01:18 AM PDT by GenXteacher (He that hath no stomach for this fight, let him depart!)
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To: Red in Blue PA

VAT is not just another “sales tax”. It is more of a multi-level marketing, pyramid scheme of a sales tax, where each and every manufacturing step along the way garners its own taxation.


28 posted on 04/07/2010 5:02:14 AM PDT by MortMan (It's unconstitutional, it's wrong, and it's evil. But that's Obama in a nutshell.)
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To: Red in Blue PA

Obama and administratio stink.


29 posted on 04/07/2010 5:03:24 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Red in Blue PA
Cause I'm the Taxman, yeaa...I'm the Tax....maaaan, And you're working for no one but MEEEEEEEeeeeee.

“If you try to sit, I'll tax your seat,

If you get too cold, I'll tax the heat,

If you take a walk, I'll tax the street.

Cause I'm the TAXMAN!”

30 posted on 04/07/2010 5:04:51 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: MortMan; All

And does anyone think the VAT will be the last of the taxes to be imposed?

The line must be drawn here.

No VAT!


31 posted on 04/07/2010 5:05:40 AM PDT by Red in Blue PA (Thinking of using 911 for protection? Google "Brittany Zimmerman")
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To: Red in Blue PA

Paul Volcker is still alive? I thought that communist ahole was dead and buried, just like Karl Marx.

Value Added Tax and taxes on carbon and energy my a$$!


32 posted on 04/07/2010 5:08:48 AM PDT by july4thfreedomfoundation (Palin / Ryan in 2012, or Ryan / Palin in 2012. Either combination will serve America with pride.)
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To: Red in Blue PA

I think we should consider some sort of constitutional amendment limiting government spending to some percentage of the GDP from the previous year.

If we had something like this in place, I’d even go for a tax increase as long as every dollar in tax increase was accompanied by an equal amount of decrease in government spending. We have to have strong incentives for these douche-bags to stop spending, or they are just going to keep right on going until we have a total economic collapse. I feel we’re already getting very close to that point as it is.


33 posted on 04/07/2010 5:11:45 AM PDT by Scutter
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To: july4thfreedomfoundation

A VAT AND an income tax? That would push the marginal rate for the average person way, way over 50% (when you include state, local, and other sales tax.)

That is unsustainable.


34 posted on 04/07/2010 5:12:07 AM PDT by Vermont Lt (This nation, of the people, by the people, and for the people has perished from the land.)
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To: Red in Blue PA
TAXES ARE KILLING US !


35 posted on 04/07/2010 5:13:58 AM PDT by timestax (Why do LIBERALS pay NO TAXES$$$? eh)
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To: raybbr

ALDI special


36 posted on 04/07/2010 5:15:56 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Red in Blue PA

Obama and company are doing EVERYTHING possible to crash the economy.

They have two built in excuses already warmed up in the bullpen:

1) Bush’s Fault
2) Greedy capitalism.

Not a day goes by where Obama has stated aloud that he either ‘inherited this economic mess’ or blames wall street.

The truth is that many of the sheeple by this BS.


37 posted on 04/07/2010 5:18:39 AM PDT by Le Chien Rouge
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To: Red in Blue PA
From the NYPost article that Fox links to:

Some say the tax can be a good way to raise money because -- depending on how it's imposed -- the burden does not have to fall on the consumer alone

Talk about naivete!

This would be an economy killer, IMO. I'm not much of a "consumer" to begin with, but I'd become less of a "consumer" than I already am, as would millions of others.

38 posted on 04/07/2010 5:20:34 AM PDT by dawn53
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To: Red in Blue PA

Until people wake the hell up on the debt obligations this country faces this is all just noise making. We cannot meet our current obligations because tax revenues are insufficient relative to outlays.

Raise revenue, cut spending or do both.....

Because if not it is going to be forced upon us soon.


39 posted on 04/07/2010 5:21:18 AM PDT by misterrob (Have you tea bagged a liberal today?)
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To: Red in Blue PA

Oh, how come I didn’t know this, the world’s financial crisis is due to a lack of taxation by the Federal Government. I’m glad I’m not a super financial wizard like Paul Volker, or I’d believe nonsense like this too.


40 posted on 04/07/2010 5:22:18 AM PDT by Jabba the Nutt (Are they insane, stupid or just evil?)
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To: wita

They are tanking the economy on purpose, you know. For the same reason they are desperately trying to instigate violence from the right.


41 posted on 04/07/2010 5:26:11 AM PDT by thecabal (Destroy Progressivism)
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To: misterrob

This is THE fastest way to create an underground BLACK MARKET.


42 posted on 04/07/2010 5:27:46 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: Red in Blue PA
Here it all comes, just like an avalanche. Volcker broached the subject, just as the Obama administration wanted and directed. Now the idea is out there to be discussed.

They told us global warming was a fact. That it was settled science. It turns out it was a deliberate lie cooked up by liberals seeking free government grant money abetted by liberal politicians looking to control the masses.

They told us ObamaCare was free health care for everyone. Turns out this too is another liberal lie. VAT taxes, “carbon taxes it was all a ruse fully supported by the willing accomplices in the corrupt MSM. Who knew that the house of liberals is completely built on lies and deception, huh?

43 posted on 04/07/2010 5:28:12 AM PDT by Obadiah (ObamaCare = VA hospitals for everyone)
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To: Red in Blue PA

No place do they mention restricting government spending.


44 posted on 04/07/2010 5:28:43 AM PDT by chainsaw ( 'You know that your landing gear is up and locked when it takes full power to taxi to the terminal)
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To: ripley

You might want to read this: http://www.freerepublic.com/focus/f-chat/2487307/posts

The “social cost of carbon” and by default ...energy. I can’t make this stuff up.


45 posted on 04/07/2010 5:30:19 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: DontTreadOnMe2009
"New taxes on everything are coming and still the budget won’t balance, when for every two dollars spent one is borrowed!!!!!!!!!!!!!!!!!!!! "

That, and they will also start spending and creating countless new Socialist Programs to suck up all the "revenue" they have taken from the Publik. There will be no end to it, or reasonable restraint.

46 posted on 04/07/2010 5:31:12 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: raybbr
In Brazil, a 16 GB USB stick is about $100. Here, it’s about $10. Where? The best price I've seen on a 16G stick is about $35.

$30 with free ship at www.newegg.com

47 posted on 04/07/2010 5:32:18 AM PDT by webschooner (Lincoln Freed the Slaves ... Obama Enslaves the Free)
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To: Red in Blue PA

ENOUGH WITH THE F——— TAXES ALREADY!!!


48 posted on 04/07/2010 5:32:22 AM PDT by RockinRight (Obama Logic: Global Warming causes blizzards, and deficit spending balances budgets.)
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To: chainsaw
No place do they mention restricting government spending.

They think govt spending is the only way out of this mess...

49 posted on 04/07/2010 5:33:52 AM PDT by LearnsFromMistakes (Yes, I am happy to see you. But that IS a gun in my pocket.)
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To: RockinRight

I am quickly approaching the limit at which I can no longer afford to live in the United States.


50 posted on 04/07/2010 5:36:57 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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