Washington — 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.
Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, “I want to get a better picture of what our options are.”
After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding “sense of the Senate” resolution that calls such a tax “a massive tax increase that will cripple families on fixed income and only further push back America’s economic recovery.”
Comments
rtpayton 3 years, 1 month ago
Barry we know you want it but needs VAT czar before telling media of future tax plans.
boltzmann 3 years, 1 month ago
Who is "Barry"?
Ludus 3 years, 1 month ago
I think he lost your vote because he's not increasing taxes on anyone who makes less than $200K, or are you just misinformed and spreading misinformation...again?
snap_pop_no_crackle 3 years, 1 month ago
Do you even know what a VAT is? Ag's link explains it.
vertigo 3 years, 1 month ago
It's not a tax increase... it's a new tax. For it to be a tax increase VAT would have already been in place and then he would have to increased that tax.
A slight of hand? Yes. But still true. This is a new tax, not an increase of a tax.
vertigo 3 years, 1 month ago
An increase in taxes, yes. A tax increase, no. It's all just a play on words...
If I don't buy anything does my tax increase? No.
Agnostick 3 years, 1 month ago
RoeDapple 3 years, 1 month ago
From the Wiki link;
"Critics point out that it disproportionately raises taxes on middle- and low-income homes."
Just sayin' . . .
snap_pop_no_crackle 3 years, 1 month ago
BOHICA!
ivalueamerica 3 years, 1 month ago
I wonder why you folks feel you can not make a point without stretching the truth or flat out telling lies.
Other than you are ignorant traitors to America.
Obama has only said he has not studied a VAT and will not make a decision until he reads the reports and recommendations from the budget commission.
However, the truth does not fit what you want to say, so you lie.
Ignorant traitors and repeat liars fits you pretty well.
Agnostick 3 years, 1 month ago
Right here, good buddy...
http://mises.org/
jobohe 3 years, 1 month ago
He's developing the European socialist welfare state and level of taxation. Continued growth in spending will lead the United States to Greek levels of debt.
Vertigo--a new tax, a tax where there was none before, is a tax increase. Or does it depend upon what the meaning of the word is is?
vertigo 3 years, 1 month ago
If I purchase nothing that has a VAT attached to it has my taxes increased?
If the income tax that I already pay goes up, that is a tax increase. It's an increase in that tax.
If a new tax comes in to play it is an increase in the number of taxes.
Tax is a singular word. For it to be an increase in TAX that tax would had to of already been instituted. Income tax, property tax, excise tax, sales tax- all are singular. Lump them together they are taxes.
NOW if you were to say the VAT is a tax -burden- increase then I would agree with you (provided of course that you purchase something that has the VAT attached).
Do you now see why I call it a play on words?
ivalueamerica 3 years, 1 month ago
hmm, there is not a single socialist, not even a democratic socialist that thinks Obama is coming anywhere close to socialism.
I guess repeating a lie only makes you a repeat liar.
it is a great soundbite, I grant you that, but if you can not be honest in fighting something you do not like, then you are a liar, nothing more and offer no value to the debate.
d_prowess 3 years, 1 month ago
How does a report that something is "on the table" automatically indicate that it will happen? I appreciate those here that discuss the merits for an against such an idea, but those that are blasting Obama as if he has signed this into law are just silly!
oneeye_wilbur 3 years, 1 month ago
Just take some more money in the form of taxes and sectors of the economy will continue to decline. It's on the way.
bruno2 3 years, 1 month ago
Oh yeah, and the Bush cuts really helped us out, didn't they? Middle class income DECLINED during the W years, for the first time in modern history. Guess you just didn't notice your pocket being picked...
rtpayton 3 years, 1 month ago
Bruno2 Obama learned his tricks from W !!
whats_going_on 3 years, 1 month ago
Hey, LJWorld, lets play a game. No politics for a whole day. Especially, no politics that you think can be summed up in 3 paragraphs.
Agnostick 3 years, 1 month ago
That'll be a very quick 1.008453 seconds...
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