VAT Tax coming

[Mr.Fitnah]

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.

 

[RodISHI]

"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."

 

[Mr.Fitnah]

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

 

[PatekPhilippe]

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

 

[PeterS]

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.

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

 

[Mr.Fitnah]

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.

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

Vat taxes sit on top of income tax .

 

[Mr.Fitnah]

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

So you dont mind the VAt on top of your income tax?

 

[RetiredGySgt]

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

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.

 

[RetiredGySgt]

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.

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

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.

 

[PatekPhilippe]

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

So you dont mind the VAt on top of your income tax?

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.

 

[Care4all]

a value tax is regressive and ABSOLUTELY would break obama's promise not to tax the middle class more...

congress won't do this.

 

[PatekPhilippe]

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

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.

I respectfully disagree with the highlighted statement Gunny...I live in the Far East and see the VAT in place in Singapore, Malaysia, Thailand and the P.I. For the most part the low/middle income are hardly impacted by it. For starters it's designed to tax the tourists and those who buy discretionary type items...in other words there is no VAT on food, shelter and electricity. Now we don't know what a U.S. VAT would look like at this point but I would think it would be simular to what one sees in Singapore or the EU. In other words...hotels, dining out, cars, jewelry, furniture, appliances, electronics, designer goods, clothing etc. would have a VAT added at check out.

 

[RetiredGySgt]

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

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.

I respectfully disagree with the highlighted statement Gunny...I live in the Far East and see the VAT in place in Singapore, Malaysia, Thailand and the P.I. For the most part the low/middle income are hardly impacted by it. For starters it's designed to tax the tourists and those who buy discretionary type items...in other words there is no VAT on food, shelter and electricity. Now we don't know what a U.S. VAT would look like at this point but I would think it would be simular to what one sees in Singapore or the EU. In other words...hotels, dining out, cars, jewelry, furniture, appliances, electronics, designer goods, clothing etc. would have a VAT added at check out.

So poor people do not buy furniture, electrical goods and appliances, electronics, clothing, etc etc? The middle class do not buy these items? Exactly who will be hurt by these items being further taxed? Not the rich, the poor and middle class.

 

[Fatality]

is there any form of taxation liberals are opposed to?

 

[PatekPhilippe]

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.

I respectfully disagree with the highlighted statement Gunny...I live in the Far East and see the VAT in place in Singapore, Malaysia, Thailand and the P.I. For the most part the low/middle income are hardly impacted by it. For starters it's designed to tax the tourists and those who buy discretionary type items...in other words there is no VAT on food, shelter and electricity. Now we don't know what a U.S. VAT would look like at this point but I would think it would be simular to what one sees in Singapore or the EU. In other words...hotels, dining out, cars, jewelry, furniture, appliances, electronics, designer goods, clothing etc. would have a VAT added at check out.

So poor people do not buy furniture, electrical goods and appliances, electronics, clothing, etc etc? The middle class do not buy these items? Exactly who will be hurt by these items being further taxed? Not the rich, the poor and middle class.

They do...but they don't spend $2000.00 on a suit...they buy a Men's Wearhouse suit...they don't buy Ethan Allen furniture or Stockwell wool carpeting, they buy Jerome Brother's stuff and Carpet Barn from China....they don't buy McIntosh Stereo equipment...they buy Panasonic.... with a 2% VAT added on to these things the rich will bear a higher proportional burden on their purchases. I'm not saying the lower income groups escape the tax altogether...I'm saying the rich don't care how much their stuff costs.

 

[Fatality]

I respectfully disagree with the highlighted statement Gunny...I live in the Far East and see the VAT in place in Singapore, Malaysia, Thailand and the P.I. For the most part the low/middle income are hardly impacted by it. For starters it's designed to tax the tourists and those who buy discretionary type items...in other words there is no VAT on food, shelter and electricity. Now we don't know what a U.S. VAT would look like at this point but I would think it would be simular to what one sees in Singapore or the EU. In other words...hotels, dining out, cars, jewelry, furniture, appliances, electronics, designer goods, clothing etc. would have a VAT added at check out.

So poor people do not buy furniture, electrical goods and appliances, electronics, clothing, etc etc? The middle class do not buy these items? Exactly who will be hurt by these items being further taxed? Not the rich, the poor and middle class.

They do...but they don't spend $2000.00 on a suit...they buy a Men's Wearhouse suit...they don't buy Ethan Allen furniture or Stockwell wool carpeting, they buy Jerome Brother's stuff and Carpet Barn from China....they don't buy MacIntosh Stereo equipment...they buy Panasonic.... with a 2% VAT added on to these things the rich will bear a higher proportional burden on their purchases. I'm not saying the lower income groups escape the tax altogether...I'm saying the rich don't care how much their stuff costs.

seems to me that it would push nice things further out of reach of the people who are trying to climb the ladder.

 

[PatekPhilippe]

Makes sense....but the nice stuff I have was saved for and paid for with cash. It's not out of reach...it just boils down to a person figuring out a way to aquire the things they enjoy in life.

 

[ba1614]

Na, no need to get spending, fraud, and corruption under control, just tax the shit out of people even more to cover up the incompetence.

 

[PeterS]

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.

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

Vat taxes sit on top of income tax .

So, its a start. Get it in, show how great it is, then start pushing to increase VAT and lower income taxes. This positions you perfectly for the great conservative takeover to come.

 

[PeterS]

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

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.

It would be means tested giving lazy middle classers and poor credits. You don't think Satan would tax his base do you?