Home > Deficit, Taxes, VAT > Never Fear The VAT is Here

Never Fear The VAT is Here


Not quite yet, but I’m sure if Obama get’s his way, it will be.

Paul Volcker, one of Obama’s economic advisers, has recently said that we might need a VAT tax to help pay for Government deficits and spending.

White House adviser Paul Volcker said the United States may need to consider raising taxes to control deficits.

He also said a European-style value-added tax could gain support.

The former chairman of the Federal Reserve who is an outside adviser to President Barack Obama, said the value-added tax “was not as toxic an idea” as it has been in the past, according to a Reuters report.

Volcker made the remarks at a New York Historical Society event Tuesday night. Volcker also suggested that a carbon or energy-related tax may become necessary to bring the budget back into check.

No talk about actually cutting Government spending of course. Just raising taxes, during a recession!

Expect more unexpectedly high unemployment numbers.

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Categories: Deficit, Taxes, VAT
  1. yttik
    April 8, 2010 at 12:05

    Yes, I’ve been reading on several liberal blogs things like “unless Americans start welcoming increased taxes, communities will continue to fall apart” and “Americans must let go of their anti-tax rhetoric or the economy will never get back on track.”

    I don’t even know what to say. Don’t these people understand that we have no money and therefore cannot afford more taxes? Do people not understand that if we are not shopping, consuming, and buying right now, we’re unlikely to start just because you add a consumption tax? I tell ya, I’m just baffled as to why anybody would continue to think this way.

  2. April 8, 2010 at 14:59

    They continue to think that way because it’s easier than admitting that they were conned. Look at JSOM’s blog, some there (you know which) are still attacking Tea Partiers and Libertarians for no other reason than because it fits their own previously held ideology. It’s too hard for them to come to grips with the fact that their whole ideology was a lie and false. They still cling to their own guns and Gods.
    I don’t think you will ever reach those people, to be honest. I think the best course of action would be to keep up informing the undecideds and to keep an open mind. Encourage debate and encourage an open discussion on the proper role of government. The reason that both sides constantly use ad hominem is to stop debate. They don’t want it because it exposes their position to be false. Keep showing everyone how false their position and assumptions are. Your not going to convince everyone, but if you can pick of the ones on the margin, you’ll see results.

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