VAT and "Here We Go"

[MaggieMae]

"Not one dime on those making under $250k per year...."

Pelosi says new tax is 'on the table' - The Hill's Blog Briefing Room

Pelosi says a lot of things that don't automatically translate into policy. If you think health care was long and drawn out, wait until an overhaul to the tax code is introduced. So I wouldn't hit the panic button yet. But of course you and your ilk will have this all signed, sealed, and delivered by--guessing--next weekend, and it will be all over the Internet as gospel truth.

Maggie, would you want a VAT?

No. With the only alternative being a page-by-page revision of the behemoth Tax Code, the only two viable solutions would be either the flat tax or the fair tax.

The fair tax would do away with all federal income taxes, including its myriad exceptions and burdens and put in place one tax, a flat percentage on all sales.

The flat tax, which would impose a fixed percent on personal income and corporate profits, leaves the door open for the same type of manipulation that currently exists.

So if there's going to be massive change, I think I would prefer the fair tax.

 

[MaggieMae]

All products would be VAT. No escape and no ability to separate tax from costs.

You mean like tobacco and alcohol?

Probably, not that they've not already been hit umpteenth times in the past 9 months! But who cares, those who buy those products deserve it, right?

Cigarettes, yes, but alcohol? I don't think there has been a raise on that in years, even at the state levels (at least not mine).

 

[MaggieMae]

Pelosi says a lot of things that don't automatically translate into policy. If you think health care was long and drawn out, wait until an overhaul to the tax code is introduced. So I wouldn't hit the panic button yet. But of course you and your ilk will have this all signed, sealed, and delivered by--guessing--next weekend, and it will be all over the Internet as gospel truth.

The fact it has been put on the table is a sign of something to come that will not be good. Just like this healthcare reform crap they are getting their foot in the door. I cannot believe the continuing arrogance from our government. Just how much are they going to continue to push the people before the protests getting larger and louder and people finally challenge the system by refusing to abide by it?

Poll after poll shows the public just about evenly split over whether people want the health care reform as it currently sits on the table in Washington, but they do indeed want REFORM, in general, in spite of all the protesting we see on television. I think the majority of thinking Americans know that the health care system is too costly, too out of control on the one hand and too limited on the other, and will only get worse without something being done about it. Here's an interesting poll taken by Reuters, asking a different question.

Americans willing to fund healthcare reform: poll | Health | Reuters

 

[Polk]

I guess Pelosi assumes that middle class taxpayers won't be purchasing any of those products that were hit with a VAT.

That's working on the assumption that a VAT, if implemented, would be on top of the current tax code. It would be fully possible to create a value added tax while also reducing other taxes, resulting in no net tax increase.

 

[Polk]

Pelosi says a lot of things that don't automatically translate into policy. If you think health care was long and drawn out, wait until an overhaul to the tax code is introduced. So I wouldn't hit the panic button yet. But of course you and your ilk will have this all signed, sealed, and delivered by--guessing--next weekend, and it will be all over the Internet as gospel truth.

Maggie, would you want a VAT?

No. With the only alternative being a page-by-page revision of the behemoth Tax Code, the only two viable solutions would be either the flat tax or the fair tax.

The fair tax would do away with all federal income taxes, including its myriad exceptions and burdens and put in place one tax, a flat percentage on all sales.

The flat tax, which would impose a fixed percent on personal income and corporate profits, leaves the door open for the same type of manipulation that currently exists.

So if there's going to be massive change, I think I would prefer the fair tax.

The FairTax is just as open to manipulation. In fact, it would have to be, because the proposal as drawn up would result in a massive tax hike for most people.

 

[Mr.Fitnah]

[ame=http://www.youtube.com/watch?v=Kvyub5XP03I]YouTube - The Vat Tax is coming[/ame]