Volcker: Taxes likely to rise eventually to tame deficit NEW YORK Tue Apr 6, 2010 7:57pm EDT
NEW YORK (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.
(Reporting by Steven C. Johnson and Leah Schnurr; editing by Carol Bishopric)
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Sunnie57
April 6, 2010, 10:09pm
Guest User
Nov. 2nd just can't come soon enough. Make sure you vote and bring a friend. Election day is even more important than going to the Tea Parties, but I thank the Tea Parties for shedding so much light on our devious, leftist politicians.
November 2 is coming and the progressives know that they are going to lose a number of seats in both houses and that's why they're trying to pass as many of their taxes and far left programs as they can b4 they lose their power.
I certainly hope so....we need some CHECKS AND BALANCES!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Democrat-Conliberaltives will never ever be happy with the amount of taxes collected. They always want MORE!
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Democrat-Conliberaltives will never ever be happy with the amount of taxes collected. They always want MORE!
Yes, they always want MORE, and the sad thing with the VAT Tax is that you won't even know how much tax you are paying. If you pay a dollar more for something, you won't know if it's tax, or if the product went up.
I got my info. from this clip (towards the end of the clip) from Laura Ingraham's show, if anyone is interested:
All for the VAT tax as a replacement for the Fed/State income taxes. If you buy-you pay. Also taps into the huge underground economy. We have to pay for all these nit wit Obama/Pelosi/Reid schemes. Had enough-YET?
The VAT tax is on top of the income tax and the state and local taxes from what I read. It would be nice to get rid of the Federal income tax and just pay a VAT tax but they also want to make it a 15% to 20% tax. They won't be happy until they have all our money.
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All for the VAT tax as a replacement for the Fed/State income taxes. If you buy-you pay. Also taps into the huge underground economy. We have to pay for all these nit wit Obama/Pelosi/Reid schemes. Had enough-YET?
