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Thread: Obama suggests value-added tax may be an option

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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Reverend_Hellh0und View Post
    Funny, I didn't see that in the article. Do you have any evidence that's what he meant?
    This is the first time he has discussed it at all that I know of. My point is that every time I have heard any economist discus a VAT tax, it would be a replacement for the current income tax system, not a tax on top of it.

    Do you have any evidence that anyone in the administration is proposing to have a VAT tax on top of the current income tax code?



    Also, I find this statement by Obama Laughable:

    Figuring out what the cost of the responsibilities we have placed in the public sector before we decide on how best to fund them is a terrible idea huh....
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by SouthernDemocrat View Post
    This is the first time he has discussed it at all that I know of. My point is that every time I have heard any economist discus a VAT tax, it would be a replacement for the current income tax system, not a tax on top of it.

    Do you have any evidence that anyone in the administration is proposing to have a VAT tax on top of the current income tax code?


    So then you were blindly speculating. He has made no such mention of a VAT as a replacement. If that was the case, surely that's what they would say.



    Figuring out what the cost of the responsibilities we have placed in the public sector before we decide on how best to fund them is a terrible idea huh....



    I think spending before "figuring out the cost of the responsibilities" is an ass backwards way of going about it.
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by SouthernDemocrat View Post
    The proposals for a VAT tax would be a replacement for all or part of income taxes. Not just another tax on top of the current tax code.
    It seems to me that many of our leaders want us to walk in the footsteps of European nations. The WSJ ran a piece about the VAT and income taxes last week:

    Europe's VAT Lessons - WSJ.com

    In the U.S., VAT proponents aren't calling for a repeal of the 16th Amendment that allowed the income tax—and, in fact, they want income tax rates to rise. The White House has promised to let the top individual rate increase in January to 39.6% from 35% as the Bush tax cuts expire, while the dividend rate will go to 39.6% from 15% and the capital gains rate to 20% next year and 23.8% in 2013 under the health bill, from 15% today. Even with these higher rates, or because of them, revenues won't come close to paying for the Obama Administration's new spending—which is why it is also eyeing a VAT.

    One trait of European VATs is that while their rates often start low, they rarely stay that way. Of the 10 major OECD nations with VATs or national sales taxes, only Canada has lowered its rate. Denmark has gone to 25% from 9%, Germany to 19% from 10%, and Italy to 20% from 12%. The nonpartisan Tax Foundation recently calculated that to balance the U.S. federal budget with a VAT would require a rate of at least 18%.
    Proponents also argue that a VAT would result in less federal government borrowing. But that, too, has rarely been true in Europe. From the 1980s through 2005, deficits were by and large higher in Europe than in the U.S. By 2005, debt averaged 50% of GDP in Europe, according to OECD data, compared to under 40% in the U.S.
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Reverend_Hellh0und View Post
    So then you were blindly speculating. He has made no such mention of a VAT as a replacement. If that was the case, surely that's what they would say.
    Do you not see that you are blindly speculating here? Obama mentions a VAT tax as a possible option and says nothing more, and you jumped to the conclusion that we are about taxed to death by him.


    I think spending before "figuring out the cost of the responsibilities" is an ass backwards way of going about it.
    Every business looks at reducing waste and inefficiencies prior to just blindly trying submitting a budget request. Have you never prepared a project overview?
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by SouthernDemocrat View Post
    Do you not see that you are blindly speculating here? Obama mentions a VAT tax as a possible option and says nothing more, and you jumped to the conclusion that we are about taxed to death by him.

    Right, because Democrats are known for repealling taxes, and not known for ADDING taxes.


    furthermore look at lizzies post. Its a little less speculating than you are.






    Every business looks at reducing waste and inefficiencies prior to just blindly trying submitting a budget request. Have you never prepared a project overview?



    We spend a fortune on healthcare, bailouts, etc, etc, and now he wants to talk of reducing government spending?


    If he was one of my project managers (I have 4) I'd fire him.
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by SouthernDemocrat View Post
    The proposals for a VAT tax would be a replacement for all or part of income taxes. Not just another tax on top of the current tax code.
    I got a bridge in Dayton that connects the Lower East side with Hollywood to sell y...
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Deuce View Post
    Maybe your vast economic expertise can tell us what this will do to the economy, then. Our taxes right now are at some of their lowest levels ever.
    Obama wants to change that.

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    Re: Obama suggests value-added tax may be an option

    [
    Quote Originally Posted by Reverend_Hellh0und View Post
    But yes, we Tea Party types are paranoid about Obama raising taxes.



    A VAT tax is the worst idea in this already overtaxed nation.
    Obama's campaign promise was that there would be no taxes on anyone making less than $250,000 a year. What ever happened to that one? Looks like it fell into the VAT.
    Last edited by bicycleman; 04-22-10 at 12:21 PM.

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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Reverend_Hellh0und View Post
    Right, because Democrats are known for repealling taxes, and not known for ADDING taxes.
    Income Taxes were reduced for 95% of working Americans in the last year.

    http://www.huffingtonpost.com/2010/0..._n_538556.html

    furthermore look at lizzies post. Its a little less speculating than you are.
    Oh, well an OP/Ed speculating, that carries some weight doesn't it.


    If he was one of my project managers (I have 4) I'd fire him.
    Obviously they have never submitted a budget to you if that is the case. Anytime I have ever submitted a cost projection for any type of initiative, it started with showing what we would be eliminating or what efficiencies were to be gained by it.

    You can't complain about a VAT tax increase until one is actually proposed.
    Last edited by SouthernDemocrat; 04-22-10 at 12:21 PM.
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by SouthernDemocrat View Post
    Income Taxes were reduced for 95% of working Americans in the last year.

    Really? By how much? Which law signed by Obama did this.



    Oh, well an OP/Ed speculating, that carries some weight doesn't it.


    I know, talking about something Obama is thinking about, and being against it, is a horrible thing for a person to do. my bad.



    Obviously they have never submitted a budget to you if that is the case. Anytime I have ever submitted a cost projection for any type of initiative, it started with showing what we would be eliminating or what efficiencies were to be gained by it.

    You can't complain about a VAT tax increase until one is actually proposed.


    WTF does this have to do with Obama thinking aout a VAT tax?



    Again, I'd fire him.
    Let evil swiftly befall those who have wrongly condemned us

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