Thread: PELOSI'S NEW PLAN- WHAT DO YOU THINK ?

10/7/2009

Hi..

Did anyone see the Drudge Report today ? Pelosi
has a new plan she says that's already on the table
" VALUE ADDED TAX - VAT ) She said in an interview
on PBS show, I forget his name, that they already have
it set up and it's the next thing after health care.

Now this is my question, if they did a VAT tax, will you still
pay State sales Tax ? She claimed the tax system would be
abolished and the VAT would be the only tax ? Hmmmmm !
I wonder if the American Public is going to get a good
screwing by Washington. What is your opinion ?


Cheers..Joe..

No way would the VAT replace all other taxes. If a VAT is put into play it would be in addition to most existing taxes- not sure about the sales and use tax though, since the Value Added Tax is applied to GOODS and SERVICES, much like our state sales and use tax.

Our government elected officials have never met a tax they didn't like so don't expect them to change anything to benefit US.

Probably just another format of this:

Tax his land, Tax his bed,
Tax the table At which he's fed.
Tax his tractor, Tax his mule,
Teach him taxes Are the rule.
Tax his work, Tax his pay,
He works for peanuts Anyway!
Tax his cow, Tax his goat,
Tax his pants, Tax his coat.
Tax his ties, Tax his shirt,
Tax his work, Tax his dirt.
Tax his tobacco, Tax his drink,
Tax him if he tries to think.
Tax his cigars, Tax his beers,
If he cries, Tax his tears.
Tax his car, Tax his gas,
Find other ways To tax his axx.
Tax all he has Then, let him know
That you won't be done Till he has no dough.
When he screams and hollers,
Then tax him some more,
Tax him 'til He's good and sore.
Then tax his coffin, Tax his grave,
Tax the sod in which he's laid.
Put these words upon his tomb,
'Taxes drove me to my doom...'
When he's gone, do not relax,
Its time to apply the inheritance tax.

Accounts Receivable Tax
Building Permit Tax - CDL license Tax - Cigarette Tax
Corporate Income Tax - Dog License Tax - Excise Taxes
Federal Income Tax - Federal Unemployment Tax (FUTA)
Fishing License Tax - Food License Ta x - Fuel Permit Tax
Gasoline Ta x (44.75 cents per gallon) - Gross Receipts Tax
Hunting License Tax - Inheritance Tax - Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax - Luxury Taxes - Marriage License Tax
Medicare Tax - Personal Property Tax - Property Tax
Real Estate Tax - Service Charge Tax - Social Security Tax
Road Usage Tax - Sales Tax - Recreational Vehicle Tax
School Tax - State Income Tax - State Unemployment Tax
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non- recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax - Utility Taxes
Vehicle License Registration Tax - Vehicle Sales Tax
Watercraft Registration Tax - Well Permit Tax - Workers Compensation Tax

STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had no national debt, had the largest middleclass in the world, and Mom stayed home to raise the kids.

I was just listening to Neal Boortz and he is all over this VAT thing. Here's a little piece he put up on his website:

By
Neal Boortz
@ October 7, 2009 8:50 AM Permalink | Comments (25) | TrackBacks (0)

I've been telling you for a while now that the Value Added Tax (VAT) was a distinct possibility. Just last week I linked to an article outlining all of the signs that pointed to the fact that the VAT is coming.

So here it is. Princess Nancy has now asserted that a VAT is "on the table." And what table might that be? The table at which the people who have the power to change our tax code .. that's what table. So you certainly don't want to lose any sleep over this. There's looters at the table and producers propping it up. Then there's the moochers who are more than ready to give their loyalty to the looters. Where does that put you?

Soon the Democrats will realize what happens when you cut the legs out from under them. Why is that? Because the VAT would be in ADDITION to all of our current taxes. It's not reform, it's just more taxes (with some minor adjustments). We are not talking about an overhaul like the FairTax would achieve - complete abolishment of our current tax system. We are talking about MORE taxes.

But somehow, we are supposed to magically believe that this would not increase taxes on the middle class. At least, that is what Princess Nancy promises. Remember, though ... it's all in the meaning of the word "tax." If it was at one point in your pocket, and it then, without coercion and without your consent, ends of in the hands of government, it's a tax.

Hey! I think I just came up with a new definition of "tax!" Let's try to refine it:

"Money or property owned by a private entity that is transferred by force to the government."

I'm sure Obama would love it!

http://boortz.com/nealz_nuze/2009/10/we ... icial.html

Neal also gave a great explanation of how the VAT works from Raw goods supplier to Consumer. When I get a few minutes I'll post about it.

VAT's The Matter?

Posted 10/06/2009 07:10 PM ET

Fiscal Policy: Sometimes the worst ideas are the most tempting. So it is with the value-added tax, or VAT — a potential money gusher for strapped governments but a massive new levy on all Americans.

At least twice a decade, it seems, desperate politicians latch on to the idea of a VAT as the best way to raise lots of money for their spending schemes. No wonder. Unlike our current system, a VAT would impose a uniform levy at each level of production, from raw materials to finished goods, so the revenue potential is huge.

Which is why it keeps coming up in our free-spending Capital.

Earlier this year, Treasury Secretary Tim Geithner, fresh from crafting a $700 billion bailout for the banks, a $787 billion "stimulus" package and untold billions more in other spending, suggested that a good way to pay for it all might be a VAT.

In recent days, as Congress feels the public's ire over its gross fiscal irresponsibility, the VAT is getting even more attention.

White House economic adviser and former Fed chairman Paul Volcker suggested it's one way the budget deficit could be closed, and another former Fed chief, Alan Greenspan, went a step further by calling it "the least worst solution" to our budget problems.

House Speaker Nancy Pelosi, asked point blank by TV interviewer Charlie Rose if she's considering a VAT, answered: "I would say, put everything on the table and subject it to the scrutiny that it deserves." She went on to extol the virtues of the VAT.

So, we've been warned. The VAT is a bad idea, however, and should be rejected out of hand. It wouldn't solve the core problem of fiscally incontinent politicians; it would only give them more money to waste, and lead to even bigger government.

This massive levy would fall on all Americans, including those earning less than $250,000, the group President Obama promised would not pay a dime in higher taxes.

Tax analyst Curtis Dubay of the Heritage Foundation notes that, because of the way it's structured, a VAT tax even at low levels would be a disaster.

Using data for 2008, a VAT of just 1% would raise an added $63 billion. Make it "just" 5%, and it's a $315 billion annual tax hike on all Americans — or roughly $2,670 on every household, including the poor and middle-class.

To sell the idea to gullible taxpayers, politicians play down these problems, focusing instead on tax "efficiency" and the idea that the VAT is a low rate applied against a broad base of taxpayers

http://www.investors.com/NewsAndAnalysi ... ?id=508243

VAT would be an economy killer. How do you reduce your VAT? You buy less. The government is moaning already that we are now SAVING at record rates (only a few years ago we were chastised for not saving enough) which reduces sales taxes to states (and some fed taxes too), and certainly discourages new business start-up or existing business expansion. This is from a recession that is temporary (we hope). What kind of damper would VAT put on the economy as a permanent fixture?

I wonder if it ever crosses the common wench Pelosi's little pea brain to just cut govt spending? .....nahhhh. That might make things WAAAY too easy!

I'm convinced that this is all part of the Democratic strategy to eventually make Americans totally dependent on government.