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 ...
New taxes on everything are coming
and still the budget won’t balance, when for every two dollars spent one is borrowed!!!!!!!!!!!!!!!!!!!!
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.
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.
“Congress might also have to consider taxes on carbon and energy...”
What a bunch of arrogant scu&bags.
IMHO
Enough
Already?
Better yet, America should slash Federal spending.
Where? The best price I've seen on a 16G stick is about $35.
It would be like giving an out-of-control drunk the keys to a liquor store.
“Read my purple lips, no taxes on the middle class...”
We have got to get this communist jerk out of power !
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.
They predicted this crap!
My response to this headline:
“U.S. citizens should consider tar and feathering Obama Economic Advisor for suggesting a VAT.”
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?
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.
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%.
Another day another outrage from this pofs marxist communist radical admn.
How about a tax on Barky’s mouth ?
U.S. should consider repealing the interstate commerce clause.
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.