Obama’s Solution For Funding His Binge Spending: National Sales Tax And National Energy Tax
OBAMA ECONOMIC ADVISOR SAYS NATIONAL SALES TAX, NATIONAL ENERGY TAX NEEDED TO PAY FOR BINGE SPENDING. “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.” (Steve C. Johnson & Leah Schnurr, “Volcke r Taxes Likely To Rise Eventually To Tame Deficit,” Reuters, 4/6/10)
A NATIONAL SALES TAX WOULD INCREASE THE COST OF EVERYDAY ITEMS …
National Sales Tax Would Increase The Price Of Groceries And Services. “The VAT is a tax on the transfer of goods and services that ultimately is borne by the consumer … It would increase the cost of just about everything, from a carton of eggs to a visit with a lawyer.” (Lori Montgomery, “Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look,” The Washington Post, 5/27/09) (more…)