VAT Tax coming

Discussion in 'Politics' started by Mr.Fitnah, Sep 25, 2009.

  1. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Podesta Says Value-Added Tax ‘More Plausible’ as Deficits Grow

    \Who Is John Podesta ?2

    Sept. 25 (Bloomberg) -- John Podesta compared the nation’s current budget crisis to the situation former President Bill Clinton faced in 1993 and said some form of a value-added tax is “more plausible today than it ever has been.”

    “There’s going to have to be revenue in this budget,” said Podesta, Clinton’s former chief of staff and co-chairman of President Barack Obama’s transition team, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing today.

    A so-called consumption tax would “create a balance” with European and Japanese economies and “could potentially have a substantial effect on competitiveness,” said Podesta. Value- added taxes in Europe and Japan encourage savings by taxing consumption.

    Podesta said such a tax may be regressive, but can be balanced by exempting some products and using “the money to support low-wage workers.”

    Podesta Says Value-Added Tax ‘More Plausible’ as Deficits Grow - Bloomberg.com


    Why not ? All those great powerhouse economies in Europe have one.
     
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  2. RodISHI
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    RodISHI Gold Member

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    "and of course we want to be just like those European countries... "

    "Let's not try to reduce the deficit just make up more ways to tax the people."
     
  3. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    CENTER FOR AMERICAN PROGRESS (CAP)

    Think tank run by Hillary Clinton and former Clinton chief of staff John Podesta
    Helped launch Media Matters For America in 2004


    The Center for American Progress (CAP) describes itself as "a nonpartisan research and educational institute" aimed at "developing a long-term vision of a progressive America" and "providing a forum to generate new progressive ideas and policy proposals."

    Robert Dreyfuss reports in the March 1, 2004 edition of The Nation: "The idea for the Center began with discussions in 2002 between [Morton] Halperin and George Soros, the billionaire investor. … Halperin, who heads the office of Soros' Open Society Institute, brought [former Clinton chief of staff John] Podesta into the discussion, and beginning in late 2002 Halperin and Podesta circulated a series of papers to funders."

    http://www.discoverthenetworks.org/groupProfile.asp?grpid=6709
     
    Last edited: Sep 25, 2009
  4. PatekPhilippe
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    PatekPhilippe Senior Member

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    I don't mind a VAT .... it treats all people the same.....same tax regardless....
     
  5. PeterS
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    PeterS Active Member

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    Isn't this the 'fair tax' conservatives have been pushing for? Wanna bet not a single one will like it if Obama proposes it?
     
  6. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Vat taxes sit on top of income tax .
     
  7. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    So you dont mind the VAt on top of your income tax?
     
  8. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Except it does not. Low income and middle Income are hit hardest by a VAT , why? Because they have less money to spend to begin with and are more likely to buy the things the VAT tax covers on a continuing basis.

    It is a tax that will be felt more by the non rich, then by the rich, something Obama promised not to do. Another lie exposed.
     
  9. RetiredGySgt
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    RetiredGySgt Platinum Member

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    A flat tax deals with INCOME. A VAT deals with consumption. The rich wont be effected by a VAT at all. Those with little or no money will feel it though as their taxes will go up because they have no choice but to buy to stay alive. A VAT directly effects the poor and the middle class. It has almost no effect on the Rich. A VAT will hurt fixed income people the most.
     
  10. PatekPhilippe
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    PatekPhilippe Senior Member

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    A value added tax is placed on certain goods and services. Some goods or services I will have no choice and have to buy them but others I can choose not to buy. Food will still be exempt. Cars and such will have this tax added along with so called luxury items.

    I don't like higher taxes but at least a value added tax will treat everyone the same regardless of income.
     

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