The dastardly Paul Volker is counseling Obama to impose a hideous Value Added Tax(VAT) and possibly a carbon tax to seize even more money from America's productive class....
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.
The treachery of the Obama administration knows no bounds. They are transforming America into a second-rate socialist nanny-State as fast as they can. Did it ever occur to these morons to stop the spending and make harsh cuts in the federal budget? Decreasing the size of government is the easiest way to shrink the deficit. I realize Bush started it with idiotic compassionate conservatism but, that doesn't make what Obama is doing, or planning to do, justified.
Any more taxes will depress the economy to the breaking point, increase unemployment still further, and the concomitant demand for federal assistance will snowball the recession still deeper. There's no activity left to punish with taxes. But, is this the grand design of Obama.....to cripple the American economy to the point of collapse, then as the people clamor for relief and assistance, promise it to them in exchange for unheard of executive power? It sound conspiratorial but, look at the facts.
2 comments:
I had heard of using the VAT to replace the income tax and I would welcome that. But just adding it on top of all the other taxes is indeed turning us more and more into a socialist regime.
A consumption tax or a flat tax would be welcomed in place of the progressive income tax under which we toil today.
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