Here she comes...Obama is just testing the waters....it's on the way..
"When CNBC asked Obama whether he could see a potential VAT in this nation, the president said: "I know that there's been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It's something that would be novel for the United States."
To add this as an additional tax, to those already in place is not just reprehensible, but might be the spark of Revolution.
The VAT, in place of the Federal income tax, IMO, is the nearest way to a "Fair Tax" this nation will ever see. The problem is they will not ever consider repealing the Federal Income Tax, and instead will impose this most regressive of taxes on top of those already in place.
I really don't see what the problem is with a flat tax for every one. I don't know what the rate would be but I imagine somewhere around 10% - 15%. Every one pays their fair share regardless of their income.
Or
A national sales tax instead of the current system. The more you buy the more you pay in taxes.
Both of these are extremely simple to accomplish and it would be very hard to cheat the system.
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"The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the Presidency........... Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools such as those who made him their president."
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
Quote:
Originally Posted by Mr. Conservatism
Here she comes...Obama is just testing the waters....it's on the way..
There is something that would be much more novel than a VAT...it's called "cut spending". Duh!
[sarcasm] Can't cut spending. That’s just silly talk. The Demos need us to pay more so they can spend more. The math is easy. Ask Will or his buddy Steve. It is blatantly obvious. Cut spending, ha ha ha ha. You silly person. [sarcasm]
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
Hmmmmm, VAT will be a tax on everyone. Could this be the, "read my lips", Obama moment?
"No one making under $250,000 will see their taxes increased".
Bernie: No. It won't happen that way. The Obama appointed budget deficit reduction team will prescribe the tax increase, and Obama will merely go along with the flow. Obama will deny that this violated his pledge. At least that's my guess.
Why all the belly-aching?!!! The government has got some good programs they are going to roll out or have rolled out. These are worthy programs. These programs do some good. The expenses of these worthy programs are greater than the current tax take can fund, so y'all are just gonna have to pony up more jingle, its jez that simple!!!
Seriously. My own view is that the government collects ample tax revenues, they just need to learn to live on this income like the rest of us. Why does a family have to square its expenditures with its income and make adjustments but the federal government doesn't have to do this? If the money is short, you may have to stop sending your kid to gymnastics (I had to do this when I got laid-off in 2002 during the great telecommunications bust -- no more $240/month club gymnastics tuition, son, so sorry). You may need to cut other expenditures for "worthy projects" but you do what you have to do.
The issue is that the US representatives and senators are cowards and will not make the hard choices needed to cut spending. That is what their primary purpose is, in my view, at least the US representatives (power of the purse), and it is what they do most poorly -- all of them, both Republican and Democrat.
Value Added Tax
