Club Cobra - Obummer Wants 25% VAT

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Obummer Wants 25% VAT

It was only a matter of time. Ochit now wants 25% more in taxes in the form of a Value Added Tax.:eek:

Of course this is in addition to the Income/Property Taxes you already pay.

A VAT is a tax on the transfer of goods and services that ultimately is borne by the consumer. Highly visible, it would increase the cost of just about everything, from a carton of eggs to a visit with a lawyer. It is also hugely regressive, falling heavily on the poor. But VAT advocates say those negatives could be offset by using the proceeds to pay for health care for every American -- a tangible benefit that would be highly valuable to low-income families.

And in a paper published last month in the Virginia Tax Review, Burman suggests that a 25 percent VAT could do it all: Pay for health-care reform, balance the federal budget and exempt millions of families from the income tax while slashing the top rate to 25 percent. A gallon of milk would jump from $3.69 to $4.61, and a $5,000 bathroom renovation would suddenly cost $6,250, but the nation's debt would stabilize and everybody could see a doctor.

http://www.washingtonpost.com/wp-dyn...052602909.html

Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.

Funny, I read the article and I have a cure right now...CUT SPENDING!

An obviously liberal newspaper reporter:

With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Only a liberal would define "money-making" as "taking money by force of government". Taxes do not "make" money, they "take" money.

The federal government is out of control on freaking steroids.

Me thinks its time to cut some tentacles off the O'pussie...but how? Even if I eats me spinach, I only got 2 arms! :LOL:
Do we hear a tea party gathering???
Actually I wouldn't object to a national sales tax...as long as it completely flat, eliminated the IRS, and the personal income tax...and required a national vote to change the universal limit (no regressive/progressive).
Like THATS going to happen! :LOL::LOL:

I agree, a flat tax would be the best of all worlds, but not very likely!

Yeah, and the media is becoming complicant in this by comparing it to the "Fair Tax". This has got to have Boortz riled up. I support the Fair Tax, but ya gotta get rid of the the other taxes too. Thing is, they might actually have more revenue under the Fair Tax alone!

Quote:

Originally Posted by 427sharpe (Post 953112)

Now for the sake of Irish folks here and the world around, please do not put an apostrope in "O'pussie". Yes, he is "of" the said article, but to attach any Irishness to him is blaspheme.

Mike O'Melia

Apologies to bomelia & clan!
Hmm..maybe i'll stick with BoBo! :LOL:

I'm kind of liking Obummer, but BoBo works, it's just a little too close to Bonzo, AKA Reagan