Obama considering national sales tax

[Thunder]

http://wcbstv.com/local/vat.tax.value.2.1618053.html

its a great idea...if you wanna be a one-term president.

and I had soo much hope for the man.

 

[Unabogie]

http://wcbstv.com/local/vat.tax.value.2.1618053.html

its a great idea...if you wanna be a one-term president.

and I had soo much hope for the man.

Not that I'm accepting that a comment from Paul Volcker, who if I recall correctly doesn't even have an official job in the administration, means that this is an actual proposal, but I do find it frustrating that the same people who scream about deficits (when a Democrat is in office) also scream about ways to pay it down. And also scream about "keeping your hands off my medicare" and "don't cut defense spending".

We're too stupid to survive as a nation.

 

[Thunder]

i have nothing against the idea...per se.

but now? with 9.6% unemployment? with the costs and sacrificed of health-care reform still unknown?

no way man. not now. maybe in 2015....but not now.

and if we did do it..it would have to be miniscule..like 1%. i would accept a 1% national sales tax.

 

[Peephole]

Ugh, terrible. Just get rid of Bush his tax cuts for the rich.

with the costs and sacrificed of health-care reform still unknown?

Health care reform will save money, you should know that by know.

 

[Unabogie]

Ugh, terrible. Just get rid of Bush his tax cuts for the rich

They are. And the rich are upset.

http://www.latimes.com/news/nation-and-world/la-na-taxes8-2010apr08,0,3808160.story

Families earning more than $250,000 and individuals making more than $200,000 will not only pay new healthcare-related taxes, but also face the likely expiration of upper-income tax cuts enacted under President George W. Bush. As a result, these Americans could be tapped for about $650 billion in additional taxes over the next 10 years -- a prospect that is loaded with both political opportunity and peril.

But what are we really talking about here? I think that for people making between $200,000-$500,000 a year it will average out to an additional $900 a year (looking for a link I saw today on this).

 

[applecorped]

Health care reform will save money, you should know that by know.

You know things that haven't happened yet? WoW!!!

 

[Puppycow]

Pain? NEVER!
We demand our cake and we demand to eat it!

 

[Puppycow]

One thing I'm pretty sure they won't do is raise it immediately. Even if they do it, they will probably delay the effect until after the 2012 election. Hopefully the recession will be over by then.

 

[Policenaut]

From what I've heard a 10% VAT would bring in 1 trillion for the US govt. a year. If that's right than a 1% tax would be 100 billion. That sounds like a pretty decent moneymaking opportunity for the government without upsetting the voting population too much. But much higher than a few percent tax would surely be met with one term Obama. But you know that if a VAT was even going to be talked about seriously surely it won't be before November and I agree implementation would not take effect until after 2012.

I don't know where those numbers are from so they could be totally wrong.

 

[MattusMaximus]

Everybody wants to go to heaven, but nobody wants to die...

 

[Thunder]

Pain? NEVER!
We demand our cake and we demand to eat it!

cake? what cake?

Bill Clinton was able to reverse the national debt clock without a national sales tax.

if he can do it, so can Obama.

how about cutting defense spending by 1/4? how about we remove 50,000 troops from Europe?

i bet that would save a nice chunk of change.

 

[KoihimeNakamura]

More likely not - I imagine Obama would have to *cut every department* by at least 30%. Those *aren't* nice numbers.

 

[Gangularis]

That wouldn't go over well here in Oregon, considering we don't even have a state sales tax..

 

[Chris Hegarty]

That wouldn't go over well here in Oregon, considering we don't even have a state sales tax..

And I like going to Delaware to do my shopping!

I've been looking forward to a federal sales tax for a while; it seems like a logical way to, you know, raise revenue a little bit.

 

[Policenaut]

Looking forward to it? It will definitely help raise money (of course not enough to stem the flow of cash the government has been spending the last ten years) but I don't know anyone who "looks forward" to new taxes especially one that will hit all people regardless of income and will stack with sales tax which is getting quite high in some states. It might not make a big difference to people in Delaware or Oregon or New Hampshire but to people who already pay 7-10% sales tax (hello Cali) another 10% doesn't sound like something everyone will get behind. Like I said a limited amount (say max 5%) might be tolerated but much above that and the country will be up in arms. The problem with that is the government would certainly raise the VAT in the future and there would likely be no restrictions on where that VAT money goes. I think they might be able to make a good case if they say VAT is only to be used on say debt reduction or health care but just funneling it to the governments wallet probably won't inspire much support.

 

[Bob Blaylock]

http://wcbstv.com/local/vat.tax.value.2.1618053.html

its a great idea...if you wanna be a one-term president.

and I had soo much hope for the man.

i have nothing against the idea...per se.

but now? with 9.6% unemployment? with the costs and sacrificed of health-care reform still unknown?

no way man. not now. maybe in 2015....but not now.

and if we did do it..it would have to be miniscule..like 1%. i would accept a 1% national sales tax.

Since the election, you've practically been worshipping Comrade Obama. Yours postings here have indicated that you've been giddy with joy and excitement with every proposed new way he's come up with to expand government, and to spend our money as if there was no limit to it.

How did you think he was going to pay for all of this? Did you imagine that he could just wave his magic wand, and suddenly we'd all have free health care? Did you think he could wave it again, and suddenly billions of dollars of stimulus money would appear out of thin air and flow into the economy? Do you think he waved this magic wand to cause the money to magically appear to pay for his “Cash for Clunkers” scam or his government takeover of General Motors?

All this spending has to be paid for, somehow.

This is what you voted for. This is what you've been eagerly, mindlessly defending.

 

[Juniversal]

http://wcbstv.com/local/vat.tax.value.2.1618053.html

its a great idea...if you wanna be a one-term president.

and I had soo much hope for the man.

Well I wouldn't attribute this to Obama, considering this wasn't actually his proposal. And naturally many ideas are shuffled around for consideration during a time of discussion. I wouldn't jump too fast to condemnation just yet. Your post comes off a LITTLE melodramatic honestly.

Slightly Off topic: What's with all the bad tax puns in the artical? "Vat chance??"

 

[Bob Blaylock]

cake? what cake?

Bill Clinton was able to reverse the national debt clock without a national sales tax.

if he can do it, so can Obama.

Do not forget that although Bill Clinton spent the first two years of his Presidency promoting the same carp that Comrade Obama has been pushing, he was able to get very little of it passed, and the resulting backlash resulted in the Republicans taking solid control of both houses in the very next election, before Clinton had the chance to do any real damage.

After that, Clinton was only able to stay in office by pretending to be a conservative, and by going along with the more fiscally-responsible policies that the Republican-dominated legislature Congress was promoting.

This time, we, as a nation, were not nearly so fortunate. Comrade Obama has managed to frivolously squander billions and billions of dollars of our money, and to impose on us a massive “Health Care Reform” scam that will continue to damage the economy for many years to come.

Surely the 2010 elections will play out very similarly to the 1994 elections, but it is too late. The damage has been done, and it will probably take decades, at least, for the nation to recover.

 

[Puppycow]

More likely not - I imagine Obama would have to *cut every department* by at least 30%. Those *aren't* nice numbers.

No. Not unless you mean balance the budget right this instant.
If the goal is to make a glide path to a sustainable level of deficit that's not necessary. Just slow the rate of growth in government and let the economy grow (which will automatically increase tax revenues).

 

[Puppycow]

"Comrade Obama"

It'd be even more clever if you called him "Comrade Obamao."

This is Comrade Volcker's idea, we don't even know if Obama agrees yet. Volcker was reappointed Fed Chairman by Reagan, and most people don't think he's a communist.