Thread: Volcker Says U.S. Needs VAT, Carbon Taxes

Obama Adviser: U.S. Needs VAT Tax

Wednesday, 07 Apr 2010 12:47 AM

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.

http://www.newsmax.com/InsideCover/obam ... /id/354951

Source: Reuters

This is the warning comment.

Taxed Enough Already! Start cutting the Pork and social welfare and free education for people that are not entitled to it.

If you didn't see this one coming, then your head is where it doesn't belong.

Sure, it may start with a 1-2% value added tax on all manufactured goods (that is made in America goods)- but you can bet your buttocks that low single digit VAT will quickly morph into 10-20% that you and I WILL feel when we make purchases.

This administration is DETERMINED to break us- one way or another- or in as many ways possible. Every day we hear in the news of another tactic being put in play by the Progressive/Socialists in Washington to weaken us both individually and collectively. Lord only knows what we are NOT being told.

Just another means to fill their pockets with money they don't earn.

More and more, I'm feeling like we are parallelling America in 1770 to 1773 when the people were really getting fed up with oppressive, intrusive government.

Hylander_1314 wrote:

More and more, I'm feeling like we are parallelling America in 1770 to 1773 when the people were really getting fed up with oppressive, intrusive government.

I agree that follks are fed up but, they are not allowing themselves to be provoked into rash behavior.

I am reminded of the Andrew Beitbart egging incident. The videos showed that the people throwing the eggs were Union members from Las Vegas.

I agree NM. What bothers me, is it is like a pressure cooker. And I just hope this gets sorted out before the pressure builds too high, and it all goes up bigtime.

"If at the end of the day we need to raise taxes, we should raise taxes," he said.

Spoken like a true liberal.

I have a better suggestion, how about we control spending!

NewMexican wrote:

Taxed Enough Already! Start cutting the Pork and social welfare and free education for people that are not entitled to it.

Ditto!