Obama suggests value-added tax may be an option

[Balt]

It's even more hilarious that republicans are against this and democrats are for it.

And he's talking about it during a mid-term election year when the Dems are already likely to take a drumming. Unbelievable.

 

[senseamp]

Bad idea, tax wealth, not spending.

 

[Jhhnn]

"Still on the table" doesn't mean he's advocating it, or that anybody's going for it. Govt revenues clearly need to increase, so we'll see a lot of different proposals run up the flagpole to see who'll salute...

Obama and Dems in general are apparently trying to spare the political donor class from significant tax increases. It won't work, simply because their share of income has grown so large that much of the rest of America rightfully sees it as necessary, even just. They promises of trickledown economics haven't been realized, so there's little point in sheltering the wealthy in hopes that they'll ever come across...

 

[SamurAchzar]

4-21-2010

http://news.yahoo.com/s/ap/20100421/ap_on_bi_ge/us_obama_tax_5

Obama suggests value-added tax may be an option


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.

Volcker has said taxes might have to be raised to slow the deficit's growth. He said a value-added tax "was not as toxic an idea" as it had been in the past.

Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill's production work and so on up the line to the retailer.

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It's been working for Europe so it will work here.

Everyone pays through the supply chain to the end of the line.

Best of all it pisses Republicans and the rich off royaly so it's a double blessing from the Messiah :thumbsup:

Make it so

Haven't you heard? VAT is a regressive tax. The truly rich accumulate money, only spending a fraction of it. VAT hurts the people spending close (not to say more) to their income level. Furthermore, VAT implementations that I know of exempt companies from paying. So who did you just tax, really? :hmm:
Any sane rich guy with a minimal sense for math would take this with both hands over the alternatives.

 

[CADsortaGUY]

Bad idea, tax wealth, not spending.

Wrong. The VAT would be just fine IF we abolished(forever) the income tax. "wealth" should not be taxed. Spending should be as then it becomes more voluntary. However, having BOTH would be the worst possible situation.

 

[JSt0rm]

honestly I would rather tax now while the babyboomers are still alive. We need them to pay for all the shit they have gotten over the last 40 years. or atleast part of it.

 

[bamacre]

Govt revenues clearly need to increase,

No, spending needs decreasing. Start with the fucking wars, Mr. Nobel Peace Prize "winner."

 

[JSt0rm]

No, spending needs decreasing. Start with the fucking wars, Mr. Nobel Peace Prize "winner."

atleast obama is man enough to put the wars in his budget. That fuck bush didn't do that.

 

[Genx87]

atleast obama is man enough to put the wars in his budget. That fuck bush didn't do that.

Who cares, they still cost money.

 

[Jhhnn]

No, spending needs decreasing. Start with the fucking wars, Mr. Nobel Peace Prize "winner."

That's really only part of it. Attempting to approach balance in the federal budget on the basis of cuts alone is an act of willful blindness and a quixotic endeavor...

 

[Balt]

Who cares, they still cost money.

Well it's not like American responsibility can just be ended in Afghanistan and Iraq at the drop of the hat, unless you want Iraq to become an Iranian satellite state and Afghanistan to return to what it was before 2002. When Bush committed us there, it was for the long-term, regardless of who his successor was. Not to mention the huge expansion that is and will continue to take place in the Vets Administration to take care of all the people coming back.

There are definitely cuts that Obama can and should make, but in the case of Iraq and Afghanistan, he just got stuck with the check.

 

[senseamp]

Wrong. The VAT would be just fine IF we abolished(forever) the income tax. "wealth" should not be taxed. Spending should be as then it becomes more voluntary. However, having BOTH would be the worst possible situation.

That is a horrible idea, we need progressive income taxes that cover all forms of income and even more progressive estate taxes. We should not be shifting tax burden to consumers and lower income people.

 

[Pulsar]

"Still on the table" doesn't mean he's advocating it, or that anybody's going for it. Govt revenues clearly need to increase, so we'll see a lot of different proposals run up the flagpole to see who'll salute...

Obama and Dems in general are apparently trying to spare the political donor class from significant tax increases. It won't work, simply because their share of income has grown so large that much of the rest of America rightfully sees it as necessary, even just. They promises of trickledown economics haven't been realized, so there's little point in sheltering the wealthy in hopes that they'll ever come across...

Are you kidding me? Obama was not just sitting around a table one day and threw out the idea of a VAT. He, and his staff, don't just talk about something to the national media for fun. This is called 'floating' something.

It means they've already studied it. Checked it. Started looking at how to write the legislation. Now they're gaging public reaction of different terms and how the best way to present it is. Once they find the best way to present it with the right type of language that masks what it's really going to do to this country, then they'll write the legislation.

Let me reiterate this. This sort of thing doesn't end up in the public spectrum by accident. They've already considered it and decided it's a good idea. They're just gaging how suicidal a move it would be.

 

[Pulsar]

That is a horrible idea, we need progressive income taxes that cover all forms of income and even more progressive estate taxes. We should not be shifting tax burden to consumers and lower income people.

Absolutely. The idea that people should work hard and put money away to give it to their children is obscene. Money they've earned should immediately go back to the state upon their death. After all, the government provides everything we need.

 

[CADsortaGUY]

That is a horrible idea, we need progressive income taxes that cover all forms of income and even more progressive estate taxes. We should not be shifting tax burden to consumers and lower income people.

Everyone should see what the gov't takes for the "services" the gov't provides. However, there is no reason that you can't make a sales tax or VAT semi "progressive" with (pre/re)bates and non-taxed goods.

But no, estates and income(one's labor) should not be taxed. I know it's the way you marxist wannabes roll but it's a horrible way for people to be involved.

 

[Narmer]

So do they also have an income tax in Europe or is Obama trying to double dip?

 

[bfdd]

I thought you guys liked this flat tax thing?

I love it, when in combination with removing income tax, without the second part though it sucks.

 

[IndyColtsFan]

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It's been working for Europe so it will work here.

Everyone pays through the supply chain to the end of the line.

Best of all it pisses Republicans and the rich off royaly so it's a double blessing from the Messiah :thumbsup:

Make it so

Jealousy rears its ugly head again. Just when I thought Dave couldn't get any more pathetic, he sinks to new lows. Here's a clue Dave -- it will hurt idiots like you much more than it will hurt people like me. Idiot.

 

[IndyColtsFan]

That would be in lieu of income taxes and not in addition to.

This.

 

[IndyColtsFan]

That is a horrible idea, we need progressive income taxes that cover all forms of income and even more progressive estate taxes. We should not be shifting tax burden to consumers and lower income people.

Yeah, so "progressive" that half of Americans don't pay a dime? GREAT idea. Let's start by fixing that -- it is seriously ridiculous that someone can get a tax return larger than the total amount of their withholdings.

Maybe if everyone had to actually pay into the system, they'd hold their politicians more accountable.

 

[dmcowen674]

The truly rich accumulate money, only spending a fraction of it.

Well any method to grab more of the money they should be contributing is better than nothing.

 

[SamurAchzar]

Well any method to grab more of the money they should be contributing is better than nothing.

So this is a "I'll take my eye out if I get both of yours out". And people think your lot is fit to run a country.

 

[Cuda1447]

Over-taxation. Just how this country was founded. Completely fucking ridiculous we are going down this same road. Our founders must be rolling in their graves. This IS WHAT WE HAD THE MOTHERFUCKING REVOLUTIONARY WAR OVER!!!!!!!!!

 

[ProfJohn]

atleast obama is man enough to put the wars in his budget. That fuck bush didn't do that.

You're an idiot.

On budget or off budget doesn't really mater. It is all about semantics, we still pay for the wars in the end.

 

[ProfJohn]

Obama isn't content on losing 50 seats this fall, now he wants to lose them all.

I hope he and his friends in congress actually try to present this to the American people.