Showing posts with label VAT. Show all posts
Showing posts with label VAT. Show all posts

Saturday, April 24, 2010

Webb Votes For VAT, Warner hides under desk

YES. HE. DID.
Jim Webb was one of the 13 senators who opposed this amendment, thus putting him on the record in support of a VAT tax on top of our income tax.
Mark Warner was one of the 2 senators who did not vote at all.

Here is a list of the other dirt bag Politicians who can't wait to take more of YOUR Money...
Via Tertium Quids
* Daniel Akaka, Hawaii
* Jeff Bingaman, New Mexico
* Sherrod Brown, Ohio
* Robert Byrd, West Virginia
* Ben Cardin, Maryland
* Byron Dorgan, North Dakota
* Ted Kaufman, Delaware
* Carl Levin, Michigan
* Jack Reed, Rhode Island
* Tom Udall, New Mexico
* George Voinovich, Ohio
* Jim Webb, Virginia
* Sheldon Whitehouse, Rhode Island

Thursday, April 8, 2010

About the VAT tax that the Dems Are Salivating Over

Investor Business Daily Explains..
In "Impostor," his 2006 critique of George W. Bush's economic policies, Bartlett wrote: "In my view, the VAT lends itself to dealing with our long-term budget problem because it can be raised a little bit at a time without causing serious economic repercussions."

Lovers of big government have long yearned for a VAT, and statements made by House Speaker Nancy Pelosi make it clear that she is salivating for its enactment to pay for some of the Democrats' endless spending spree.

How unpopular is the VAT? The best person to ask would have been the late Democrat Al Ullman. As chairman of the powerful House Ways and Means Committee during much of the 1970s, he was one of the most powerful politicians in Washington. But he actually lost the Oregon congressional seat he had held for decades after championing the VAT.

First cooked up by France, the VAT's hidden nature is what gets ordinary Americans justifiably furious when they hear talk of it. Steve Forbes and Elizabeth Ames, in their new book "How Capitalism Will Save Us," call the VAT "insidious because it imposes an invisible layer of taxation that inflates the cost of living . .. increases the cost of doing business and hits all consumers."

As Hoover Institution flat-tax gurus Robert E. Hall and Alvin Rabushka have warned, a VAT is unacceptable "to most Americans on grounds of equity" because "by taxing consumption from the first dollar at the same rate, it puts a substantial tax burden on the poor." It therefore "is rarely considered as a replacement for the income tax."

But it would also inflict an inflationary assault — the last thing our economy needs right now. "Experience in Europe has made it plain that the incorporation of the VAT in product prices is not just an academic proposition," Hall and Rabushka point out.

"Not only are prices marked up by the amount of the VAT as soon as the tax goes into place," the economists add, "but there are second and third rounds of inflation as wages respond to higher prices through cost-of-living escalation. In 1979, when Britain raised its VAT rate while cutting income tax rates, a burst of inflation crippled the economy for several years."

The statists now running Washington are too in love with income taxes to replace them with a VAT; it's an added value-added tax they want, starting at a "painlessly" low rate, then growing like a cancer.

Wednesday, April 7, 2010

Pay Up Suckers

A VAT Tax Will Help Create a Permanent Dependent Class
This is liberalism's goal in overturning Reaganism and lying about tax cuts.
"The problem with the deficits is not insufficient taxation. The problem
with the deficits is out-of-control spending by the Obama regime."
-Rush Limbaugh


Paul Volcker says we need a Value Added Tax ( VAT ), which is a tax on Everything, to pay for the Democrats spending spree.

Volcker: Taxes likely to rise eventually to tame deficit

NEW YORK (Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.