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Archive for Thursday, April 22, 2010

Obama: Value-added tax a possible option

April 22, 2010

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— 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

Richard Payton 4 years, 3 months ago

Barry we know you want it but needs VAT czar before telling media of future tax plans.

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Seth Peterson 4 years, 3 months 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?

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Flap Doodle 4 years, 3 months ago

Do you even know what a VAT is? Ag's link explains it.

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RoeDapple 4 years, 3 months ago

From the Wiki link;

"Critics point out that it disproportionately raises taxes on middle- and low-income homes."

Just sayin' . . .

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ivalueamerica 4 years, 3 months 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.

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jobohe 4 years, 3 months 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?

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ivalueamerica 4 years, 3 months 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.

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d_prowess 4 years, 3 months 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!

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bruno2 4 years, 3 months 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...

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Richard Payton 4 years, 3 months ago

Bruno2 Obama learned his tricks from W !!

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whats_going_on 4 years, 3 months 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.

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