Value Added Tax, Yipee!

(because nothing helps a struggling economy like making it more expensive for people to buy stuff!)

Obama Adviser Paul Volcker: Value-Added Tax "Not a Toxic Idea," Should be Considered to Lower Deficit...

The VAT would be the death nail on the American economy. This should scare the crap out of everyone...

(Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

ZIP

The VAT would be the death nail on the American economy. This should scare the crap out of everyone...

(Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

ZIP

Comments

[Reasonsjester]

VAT may be the big vat of boiling water we all fall into, but knee-cap and tax would be the shot behind the ear for the market system. Welcome to economic by compulsion, brought to you by the Demonrats. Demonrats, enslaving the American people for over 100 years...