Not surprising:
Acknowledging it would be a highly unpopular move, White House economic adviser Paul Volcker said yesterday the United States should consider imposing a “value added tax” similar to those charged in Europe to help get the deficit under control.
A VAT is a national sales tax that, like state and city sales taxes, would be collected by retailers.
Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy.
This won’t be instead of income and payroll taxes, my fellow Americans – this is in addition to. A gigantic, regressive, soak-the-poor tax on the productive economy. Naturally, it appeals to liberals because:
1. Super rich liberals can easily afford the extra charge.
2. It provides a vast revenue stream.
3. It can be easily jacked up without anyone really noticing it.
Its the perfect liberal tax – and thus Europe has had it for decades (and, you note, even during boom economic times Europe wallows in the doldrums). Its a hideous, un-American thing – and while this is just floating a trial balloon to see how much opposition there is, we can be assured that if we don’t win in November, Obama and his Democrats will impose this on us in the by and by.
Fight hard – don’t let them get away with this.
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