Obama wants to add a brand new tax in a recession

[CMike]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

 

[amrchaos]

Why not repeal the Stimulus tax cuts?

 

[Claudette]

We will all end up on the dole.


Wonder who will be left to provide the money to keep the good ship Obama afloat????

 

[xsited1]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

They're going to tax us into prosperity!!!!!

 

[WillowTree]

Krauthammer was correct. and the lefties on this board can spin.. thumb, sit, spin.. I wuv it.

 

[Some Guy]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

They're going to tax us into prosperity!!!!!

What a great quote that is!

 

[SuMar]

We will all end up on the dole.


Wonder who will be left to provide the money to keep the good ship Obama afloat????

Well they can hold there own charity benefit and raise money. I wonder how many libs would donate?

 

[boedicca]

A VAT tax is the ultimate Wet Dream for the left. It allows concealed government intrusion into Everything - and is an enormous source of favors to sell.

...The tax sounds simple, but don't be fooled. Because both upper- and lower-income families pay the tax at an equal rate, the VAT is considered regressive; that is, it hits the poor harder than the better-off. So it is the practice in countries such as Britain to exempt food, which lower-income families spend a greater proportion of their income on. The technical term is "zero rating," meaning that exempt items are taxed at a "zero rate."

However, wait until the folks at the IRS get their hands on the regulations for the application of the new tax. They will undoubtedly turn to their more experienced British counterparts for guidance.

"Food of the kind used for human consumption," to a British bureaucrat, is something "the average person, knowing what it is and how it is used, would consider it to be food or drink; and it is fit for human consumption. . . . The term includes . . . products like flour, which, although not eaten by themselves, are generally recognized food ingredients . . . [but] would not usually include . . . dietary supplements, food additives and similar products, which, although edible, are not generally regarded as food."

And so, in the United Kingdom, according to the regulations of Her Majesty's Inland Revenue Service, crackers made from tapioca starch carry no tax; prawn crackers made from cereals do. Frozen yogurt that needs to be thawed before eating is zero rated, frozen yogurt bears the tax. Get it? If you don't, too bad—Her Majesty's tax collectors are not in the habit of offering an explanation for their regulations.

Food for animals creates other problems. If it is "suitable for all breeds" it is taxed, but if "it is held out for sale exclusively for working dogs" it is not, unless, of course, "it is biscuit or meal," in which case it is taxed.

So dog food for "sheepdog breeds" is taxed, but dog food for "working sheep dogs of any breed" is not; food for greyhounds is taxed, food for "racing greyhounds" is not. This may be the only tax in Britain that favors work over leisure.

Clothing also presents a problem for the British tax man. Two problems, actually.

First, what is clothing? Well, sailors' lifejackets are clothing because they "have the form and function of clothing," but "buoyancy aids" are not. Second, since children's clothing is zero-rated, what fits into that category?

Bras up to and including size 34B; body stockings that measure no more than 27½ inches shoulder to crotch; babies' shawls but not "mother-and-baby shawls intended to wrap around both mother and child." There's more, lots more, but you get the idea.

This process of writing regulations for the VAT man when he cometh is more than merely amusing. For one thing, it confers enormous power on faceless bureaucrats.

They can hand a competing product the advantage in the U.K. of a price 17.5% lower (in Sweden it's 25%) than a close substitute. That invites both lobbying and corruption and sheer, inexplicable arbitrariness. Get your "sweetened dried fruit" deemed to be "held out for sale as snacking and home baking" and your product will bear a tax and have to compete on grocers' shelves with zero-rated "sweetened dried fruit held out for sale as confectionary/snacking." Peddle your sandwiches "as a general grocery item" and consumers pay no tax, but offer them as "part of a buffet service" and the VAT man wants his 17.5%.

Manufacturers twist and turn and juggle their product specifications and processes, not to find the most efficient way of making things but the surest way of obtaining a zero rating. The resulting inefficiencies cannot be measured accurately, but they certainly contribute to Europe's lagging productivity and increasing inability to compete in world markets....


Irwin Stelzer: Small Bras and the Value-Added Tax - WSJ.com

 

[VaYank5150]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

I have read this link....and cannot find anywhere that is states Obama wants to add a brand new tax, as you claim in your thread title. What did I miss?

 

[Jarhead]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

I have read this link....and cannot find anywhere that is states Obama wants to add a brand new tax, as you claim in your thread title. What did I miss?

Obama did not say he supports it.

But his advisr does and that is concerning. A VAT tax is tough on the outside, but even worse when it is on top of state and city sales tax.

But one thing for sure. It will wipe out the deficit. But may take some businesses with it.

 

[VaYank5150]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

I have read this link....and cannot find anywhere that is states Obama wants to add a brand new tax, as you claim in your thread title. What did I miss?

Obama did not say he supports it.

But his advisr does and that is concerning. A VAT tax is tough on the outside, but even worse when it is on top of state and city sales tax.

But one thing for sure. It will wipe out the deficit. But may take some businesses with it.

I agree with you 100% Jarhead. However, I was trying to get the OP to admit he lied. GOP hypocrites rarely will do this, so thank you for at least reading the link and agreeing that Obama has not stated he wants to add a brand new tax.

 

[CMike]

These people are really scary.

We now have record unemployment thanks to Obama's policies.

What's the best way out of it according to them? Add a brand new VAT tax.

FOXNews.com - Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

I have read this link....and cannot find anywhere that is states Obama wants to add a brand new tax, as you claim in your thread title. What did I miss?

Who does Obama's economic advisor work for?

 

[WillowTree]

these people are really scary.

We now have record unemployment thanks to obama's policies.

What's the best way out of it according to them? Add a brand new vat tax.

foxnews.com - obama economic adviser says u.s. Should consider 'value added tax'

i have read this link....and cannot find anywhere that is states obama wants to add a brand new tax, as you claim in your thread title. What did i miss?

who does obama's economic advisor work for?

ge?

 

[Oscar Wao]

The guy doesn't know jack about economics or the laws of it, so nothing surprises me anymore, even if this article is being spun.

 

[skookerasbil]

More bad news for the k00ks...............

Bernanke today on the economy, "Were not out of the woods yet!!


Economy not "out of woods": Bernanke - Yahoo! Finance

Its pretty clear s0ns.............Obama is trying to run the economy into the ground!!!