Nanker Posted April 7, 2010 Share Posted April 7, 2010 White House adviser Paul Volcker today called for a European style VAT or value added tax in the United States. A VAT is akin to a national sales tax. Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy. Of course, spending isn't the problem. The problem is we don't have enough money to pay for the spending. Solution - raise taxes. Tax-tax-tax-tax Tax-tax-tax-tax Tax-it-ee-Tax Oh, Tax-it-ee-Tax! Tax-it-ee-Tax Oh, Tax-it-ee-Tax! tax-tax-tax-tax-tax-tax... continue ad crescendo Stop it! But I don't like Tax!!! Link to comment Share on other sites More sharing options...
OCinBuffalo Posted April 7, 2010 Share Posted April 7, 2010 Hysterical. Many on the right have been predicting this very thing for at least a year now. But, of course, at the time, they were dismissed as "alarmist". Looks like that Governor who said we all better get used to being good Europeans wasn't that far off now was he? What else can we do but laugh? This is like Cinderella. These people are literally trying to turn us into a European country as much as possible....before November comes and turns them all into turd pumpkins. I honestly believed that the Democrats would do a Clinton, and hold on to power for at least 8 years. I expected Obama to at least back up some of his soaring, centrist-oriented speeches. I never expected them to be this stupid. They are going to piss people off to the point that they will never recover. They have already succeeded in losing what remained of the "moderate Democrats". Independents are well on their way to being gone. But...this "doubling down"? This has the potential to break the Democratic party and make it permanently irrelevant. This is one hell of a risk to take. There's a fine line between being ballsy and being stupid...it appears they are 3 states past that line, well into Stupidland. Oh well, might as well get ready to be called stupid, racist, hateful, etc. on November 3rd, when they get thrown out of office, and they start blaming us instead of themselves....again. Link to comment Share on other sites More sharing options...
/dev/null Posted April 7, 2010 Share Posted April 7, 2010 Tax-tax-tax-taxTax-tax-tax-tax Tax-it-ee-Tax Oh, Tax-it-ee-Tax! Tax-it-ee-Tax Oh, Tax-it-ee-Tax! tax-tax-tax-tax-tax-tax... continue ad crescendo Stop it! But I don't like Tax!!! Tax Tax Tax Tax. Lovely Tax! Wonderful Tax! Tax ta-a-a-a-a-ax Tax Ta-a-a-a-a-ax Tax. Lovely Tax! Lovely Tax! Lovely Tax! Lovely Tax! Lovely Tax! Tax Tax Tax Tax! Link to comment Share on other sites More sharing options...
keepthefaith Posted April 7, 2010 Share Posted April 7, 2010 White House adviser Paul Volcker today called for a European style VAT or value added tax in the United States. A VAT is akin to a national sales tax. Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy. Of course, spending isn't the problem. The problem is we don't have enough money to pay for the spending. Solution - raise taxes. Tax-tax-tax-tax Tax-tax-tax-tax Tax-it-ee-Tax Oh, Tax-it-ee-Tax! Tax-it-ee-Tax Oh, Tax-it-ee-Tax! tax-tax-tax-tax-tax-tax... continue ad crescendo Stop it! But I don't like Tax!!! The events and news of the past 15 months are nothing short of astounding. Link to comment Share on other sites More sharing options...
GG Posted April 7, 2010 Share Posted April 7, 2010 Well, he did campaign on a change platform. And changes they are a comin Link to comment Share on other sites More sharing options...
murra Posted April 7, 2010 Share Posted April 7, 2010 But I thought immediately following the 2006 congress takeover, and subsequent executive defeat, that the right was batsh*t crazy when they lived in fear of such ridiculous ideas as national sales tax. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 7, 2010 Share Posted April 7, 2010 Link to comment Share on other sites More sharing options...
taterhill Posted April 7, 2010 Share Posted April 7, 2010 Are hey out of their f-n minds....this country is getting close to a taxpayer revolt and they want to put some lighter fluid on the fire....... Link to comment Share on other sites More sharing options...
Chef Jim Posted April 7, 2010 Share Posted April 7, 2010 Appearing on Charlie Rose’s PBS show on Monday night, House Speaker Nancy Pelosi affirmed that a Value Added Tax, or VAT, is on the table.Pelosi said that any new taxes would come after Congress finishes the health care debate, and that it may come as part of a larger overhaul to the tax code. The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans. This is a claim Ms. Pelosi’s political opponents will take issue with, as a VAT would add tax on almost all steps of production. Businesses would likely pass the cost on to consumers through higher prices. How does a VAT not increase taxes on the middle class? It increases taxes on all classes and you can be certain that they will not reduce income taxes along with the VAT. Link to comment Share on other sites More sharing options...
IDBillzFan Posted April 7, 2010 Share Posted April 7, 2010 Are hey out of their f-n minds....this country is getting close to a taxpayer revolt and they want to put some lighter fluid on the fire....... Those are just fringe racists making noise. They don't represent America. Look, it's time to pay more taxes. Time to get more skin in the game. Time to be patriotic. Welcome to the Obama Administration's Trickle Up Poverty Plan. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted April 7, 2010 Share Posted April 7, 2010 ha ha, awesome. If I wanted to live in Europe, I'd move there with Alec Baldwin. Link to comment Share on other sites More sharing options...
Fan in San Diego Posted April 8, 2010 Share Posted April 8, 2010 After reading the other thread where 49% of people dont pay federal taxes. Maybe dropping federal income tax altogether and implementing a 10% Federal VAT would be fair all the way around. Link to comment Share on other sites More sharing options...
Magox Posted April 8, 2010 Share Posted April 8, 2010 After reading the other thread where 49% of people dont pay federal taxes. Maybe dropping federal income tax altogether and implementing a 10% Federal VAT would be fair all the way around. Your ilk would never go for that. And why? Because it is not a progressive but a regressive tax. Link to comment Share on other sites More sharing options...
GG Posted April 8, 2010 Share Posted April 8, 2010 How does a VAT not increase taxes on the middle class? It increases taxes on all classes and you can be certain that they will not reduce income taxes along with the VAT. Because it's not a tax, but a ploy by the evil major corporations to jack up the price of their products by 15% so they don't have to pay any tax. Simple, really. Link to comment Share on other sites More sharing options...
Fan in San Diego Posted April 8, 2010 Share Posted April 8, 2010 Your ilk would never go for that. And why? Because it is not a progressive but a regressive tax. My ilk? And what is my ilk? What's a progressive tax vs. regressive tax? Link to comment Share on other sites More sharing options...
/dev/null Posted April 8, 2010 Share Posted April 8, 2010 After reading the other thread where 49% of people dont pay federal taxes. Maybe dropping federal income tax altogether and implementing a 10% Federal VAT would be fair all the way around. Uh, you do realize any VAT would be on top of the existing Federal Income Tax don't you? Link to comment Share on other sites More sharing options...
Magox Posted April 8, 2010 Share Posted April 8, 2010 My ilk? And what is my ilk? What's a progressive tax vs. regressive tax? Regressive tax A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. In simpler terms, a regressive tax imposes a greater burden (relative to resources) on the poor than on the rich — there is an inverse relationship between the tax rate and the taxpayer's ability to pay as measured by assets, consumption, or income. Progressive tax A progressive tax is a tax by which the tax rate increases as the taxable base amount increases. "Progressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from low to high, where the average tax rate is less than the marginal tax rate. It can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Progressive taxes attempt to reduce the tax incidence of people with a lower ability-to-pay, as they shift the incidence increasingly to those with a higher ability-to-pay. The term is frequently applied in reference to personal income taxes, where people with more disposable income pay a higher percentage of that income in tax than do those with less income. It can also apply to adjustment of the tax base by using tax exemptions, tax credits, or selective taxation that would create progressive distributional effects. For example, a sales tax on luxury goods or the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption or decreases a tax burden on low end consumption respectively. The opposite of a progressive tax is a regressive tax, where the tax rate decreases as the amount subject to taxation increases. In between is a proportional tax, where the tax rate is fixed as the amount subject to taxation increases. The opposite of proportional tax is fixed tax. Link to comment Share on other sites More sharing options...
KD in CA Posted April 8, 2010 Share Posted April 8, 2010 After reading the other thread where 49% of people dont pay federal taxes. Maybe dropping federal income tax altogether and implementing a 10% Federal VAT would be fair all the way around. Well that would be a great solution. Let people pay based on consumption. The problem is the criminals in Congress would never let income tax go so what will happen is we'll have both. Link to comment Share on other sites More sharing options...
Nanker Posted April 8, 2010 Author Share Posted April 8, 2010 Liberals have never met a tax they didn't like. It took them till May of 2006 to repeal the 3% Federal excise tax on long-distance calls imposed in 1898 to help pay for the Spanish-American war. It was designed to tax only wealthy Americans who could afford the luxury of having a phone. Of course the 3% tax is still there - for local calls. The government taxes unemployment benefits. It taxes nearly everything you buy including the food, utilities and shelter you need to live. It taxes the $250 "rebate" it sent to millions - mainly seniors in 2009. It taxes the wealth of your estate when you die. Link to comment Share on other sites More sharing options...
IDBillzFan Posted April 9, 2010 Share Posted April 9, 2010 It's on like Donkey Kong. Today, Congressional Budget Office Director Douglas Elmendorf confirmed he's been getting "a lot of questions" about the VAT tax from Congress. "Many people in Congress are interested in it," he said of the VAT, a national sales tax that adds between 10 and 20 percent to purchases in European countries where it's been implemented. "We've had conversations with a number of members and their staffs." Elmendorf declined to specify which members and said he has yet to field an official request to study a VAT tax. The CBO is in the process of figuring out how best to study a VAT tax's impact, sorting through various structures employed by other countries. Elmendorf also declined to estimate what a VAT tax level would need to be to cover the 2020 debt, which the CBO predicted will be 90 percent of GDP. Link to comment Share on other sites More sharing options...
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