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Obama suggested Wednesday that a new value-added tax

Neubarth

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WASHINGTON – President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.
Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, "I want to get a better picture of what our options are."
After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding "sense of the Senate" resolution that calls the such a tax "a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery."

Obama suggests value-added tax may be an option - Yahoo! News
 
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Neubarth

Neubarth

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Obama is grasping at straws. The whole house of cards is slowly collapsing as I have said for years would happen.

I would accept a VAT if the first $26,000 on income an individual or $54,000 a family makes would be free from Income Tax.
 

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