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  1. #1
    Atomic Punk
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    12.18.17 @ 09:20 AM
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    Default Obama suggests value-added tax may be an option

    WASHINGTON 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 the such a tax "a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery."

    For days, White House spokesmen have said the president has not proposed and is not considering a VAT.

    "I think I directly answered this the other day by saying that it wasn't something that the president had under consideration," White House press secretary Robert Gibbs told reporters shortly before Obama spoke with CNBC.

    After the interview, White House deputy communications director Jen Psaki said nothing has changed and the White House is "not considering" a VAT.

    Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill's production work and so on up the line to the retailer.

    In the CNBC interview, Obama said he was waiting for recommendations from a bipartisan fiscal advisory commission on ways to tackle the deficit and other problems.

    When asked if he could see a potential VAT in this nation, the president said: "I know that there's been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It's something that would be novel for the United States."

    "And before, you know, I start saying 'this makes sense or that makes sense,' I want to get a better picture of what our options are," Obama said.

    He said his first priority "is to figure out how can we reduce wasteful spending so that, you know, we have a baseline of the core services that we need and the government should provide. And then we decide how do we pay for that."

    Volcker has said taxes might have to be raised to slow the deficit's growth. He said a value-added tax "was not as toxic an idea" as it had been in the past.

    Since then, some GOP lawmakers and conservative commentators have said the Obama administration is edging toward a VAT.
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  2. #2
    Atomic Punk edwardv's Avatar
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    12.18.17 @ 08:25 AM
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    Lets just give everything we have and make to the government and they can all give us a salary in return. I'am sure they will be more than fare to us after all they are equal opportunity folks.
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  3. #3
    Sinner's Swing!
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    10.27.17 @ 06:31 PM
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    You create a deficit by spending more than you take in. Apparently truly cutting spending is off the table.

    Real "change" would be to cut government spending, something that hasn't happened in many, many years.

  4. #4
    Forum Frontman It's Mike's Avatar
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    12.18.17 @ 10:58 AM
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    Default

    don't think you all have much of a choice on this one. Cuts won't be enough - not that there seems to much of that being proposed. You've been undertaxed for decades, this day was coming. Most western nation will have to face this reality sooner or later. The sooner it's addressed, the less painful it will be.

  5. #5
    Forum Frontman fudd's Avatar
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    here's an idea, let the people that elected him vote on it. Another good idea is don't spend money you don't have.

  6. #6
    Forum Frontman It's Mike's Avatar
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    12.18.17 @ 10:58 AM
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    Quote Originally Posted by fuddman5150 View Post
    here's an idea, let the people that elected him vote on it. Another good idea is don't spend money you don't have.
    a little too late for that fuddman. And having people vote on tax increases would never work as a vote in favour would never happen. Everyone wants lower taxes and decreased spending but no one wants "their programs" cut only the "other stuff". There isn't enough "other stuff" to cut to solve the problems that you're facing. A VAT (or something like it) will happen - it's inevitable. Either that or the country will start defaulting on their debt.

  7. #7
    Sinner's Swing!
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    10.27.17 @ 06:31 PM
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    I'm not sure I would say we're "undertaxed". I pay over 30% of my total income into state/federal taxes. What would be "correctly taxed?" 40%, half, or more?

  8. #8
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    10.27.17 @ 06:31 PM
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    Quote Originally Posted by It's Mike View Post
    a little too late for that fuddman. And having people vote on tax increases would never work as a vote in favour would never happen. Everyone wants lower taxes and decreased spending but no one wants "their programs" cut only the "other stuff". There isn't enough "other stuff" to cut to solve the problems that you're facing. A VAT (or something like it) will happen - it's inevitable. Either that or the country will start defaulting on their debt.
    I sadly agree with you. But I'm not sure a valuation tax is our only answer. I wonder if a valuation tax would apply to necessities as well (food, fuel, etc.) Does Canada have a VAT tax?

  9. #9
    Hang 'Em High Wray's Avatar
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    08.16.15 @ 10:29 PM
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    Mike is 100% correct. Cuts simply wouldn't be enough. The only way to even make
    a dent in our deficit would be to raise taxes and drastically cut spending. The best place to start would be military spending. Too bad nobody in our state of politics has the guts to take that position.

  10. #10
    Forum Frontman It's Mike's Avatar
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    12.18.17 @ 10:58 AM
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    Quote Originally Posted by Rebel View Post
    I sadly agree with you. But I'm not sure a valuation tax is our only answer. I wonder if a valuation tax would apply to necessities as well (food, fuel, etc.) Does Canada have a VAT tax?
    GST (Goods and Services Tax) is a federal VAT that came into existence in 1991 up here. It was incredibly unpopular and the main reason why our federal government was able to run surpluses for most of the past decade or so. It was 7% until a few years back when it was dropped to 6% and the 5%. Not a coincidence that since that drop in the tax, we've been running deficits again. Sadly all of the debt repayment of the previous decade has been destroyed by the recent actions of our federal government.

    Wray is right about military spending, it's the issue that will need to be looked at but no one has the balls to do it. We face a smaller (but similar) issue here. The war in Afghanistan has been very pricey for us. Once we pull out in 2011 the military budget will need to be slashed to get us back on solid financial footing.

  11. #11
    Forum Frontman It's Mike's Avatar
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    12.18.17 @ 10:58 AM
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    Quote Originally Posted by Rebel View Post
    I'm not sure I would say we're "undertaxed". I pay over 30% of my total income into state/federal taxes. What would be "correctly taxed?" 40%, half, or more?
    90% of Americans (and Canadians for that matter) don't pay nearly as much as they got out of the government. Regular people love to cry about being over-taxed, nothing could be further from the truth. Most Americans don't pay enough in tax to cover their share of the miliary budget.

  12. #12
    Forum Frontman Double Down's Avatar
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    11.17.17 @ 12:11 PM
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    Default

    What an asshole this guy is. Fucking despise him.
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  13. #13
    Atomic Punk Little Dreamer's Avatar
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    12.17.17 @ 11:18 PM
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    Default

    It's another one of those "Obama is a communist coz he will surely do this and that in the future" thread. The VAT measure has NOT been proposed yet. Nor voted. It does NOT exist so far. So getting up in arms about it is ridiculous since it might never happen.

    People should oppose or support Obama on what he has already done, measures that have passed. Not because he "might" in the future establish a soviet system in the lower 48s.

    Same thing with GWB, I opposed him because of the ill-advised Iraq war that really happened, amongst other things. Not because he was supposedly on his way to establish a fascist regime. That was fantasy.
    Little Dreamer

  14. #14
    Eye suffacozza YEWW! Goo's Avatar
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    12.17.17 @ 06:18 PM
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    When the GST was introduced here about ten years ago it also ment the removal of quite a few existing state and federal taxes, including sales tax, and replaced them with a flat 10% tax on all goods and services, with the exclusion of fresh foodstuffs. Some things went up, others went down.

    Took a little getting used to but don't think it's been a huge drama. The aim of it was to make it a little simpler and more broad based. THe rate hasnt changed since inception.
    A little zen....... Headed your way.......

  15. #15
    Good Enough brownnation's Avatar
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    02.18.16 @ 03:10 PM
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    Quote Originally Posted by Goo View Post
    When the GST was introduced here about ten years ago it also ment the removal of quite a few existing state and federal taxes, including sales tax, and replaced them with a flat 10% tax on all goods and services, with the exclusion of fresh foodstuffs. Some things went up, others went down.

    Took a little getting used to but don't think it's been a huge drama. The aim of it was to make it a little simpler and more broad based. THe rate hasnt changed since inception.
    Yeah, that doesn't really happen here (especially from democrats). Once they get their hands on your money they don't tend to want to give any back. I'm guessing this will be in addition to any existing ways they are bleeding us.
    Anonymous for fear of fatwa

 

 

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