I see that the first rumblings of a VAT tax are oozing out of this slimy administration today. These corrupt liberal politicians just spent us into oblivion causing a "financial crisis" and now want us to believe the only way out of the mess they made is to give them ANOTHER 20%-25% of your money in sales tax on top of the giant increase of income taxes coming. Liberals will never have enough of your money....face it.
Sickening.
Oh, and im sure they will propose a VAT at a rational 5%-10% but i GUARANTEE inside of 5 years it will double or triple until they have milked every last penny out of you.
The nerve of these people destroying our economy and running up an historic debt then having the gall to say the only answer is a giant new tax.
How do Democrats have an ounce of credibility left?
If you live in New York you will be giving 80% of your income to the government.
The American Dream....Ha.
Hot Air's take.
Via The Daily Caller whole article
HERE Volcker: US needs Euro-style VAT to combat fiscal crisis
Paul Volcker, current White House adviser and former Chairman of the Federal Reserve under Presidents Carter and Reagan, had some sobering news for U.S. consumers. At a New York Historical Society event on Tuesday, Volcker said the United States will have to consider a “European-style value-added tax” to address the fiscal crisis facing the federal government.
“Volcker… 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.”
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