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

  1. #61
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    Re: Obama suggests value-added tax may be an option

    Another nice thing brought to you by this benevolent administration....... a new, in 2012, 3.8% tax on all GROSS real estate transactions.

    That's right kids.. sell your house for $200,000, Barry will want $7,600 right off the top.

    And you think there are a bunch of home owners under water now?

    BTW….. That will be on top of the 30% capital gains in 2012. I know, you say you don’t have to pay capital gains when you sell your principal residence……….. Wrong!!! Barry is taking that exemption away too.

    Every body happier now? Let’s all hear it for Barry!!!!!!!!!
    Last edited by Crunch; 04-22-10 at 07:15 PM.
    There is no such thing as a “Natural Born Dual-Citizen“.

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    I didnt have to read the article to tell you that you cant read.

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

    Borrow and spend, then tax. Predictable.

  3. #63
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Crunch View Post
    If he spends 6 trillion dollars in one year, how can you ever say he is trying to fix our deficits? Is this some part of the "New Math" I've heard about?
    This is just another classic example of why people have begun tuning out "so called" conservatives.

    Please show me $6 trillion in spending in 2009.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Reverend_Hellh0und View Post
    Now I'm no accountant. But lets discuss this.... He borrowed our money in this stimulous, to take some of said money and give it back to us?
    Lets try for some accuracy. There is no "he", as it was an act of Congress which was sponsored by the President. I am unaware of your understanding in regards to the macro economy. One of the characteristics in a deflationary recession is a sizable decrease in monetary velocity (that is dollar turnover has diminished). As income increases, so does the percentage make up of ones discretionary income income (after all the bills are paid). Given that consumers who make under $250k have a greater percentage of their income going towards discretionary spending, they naturally have a higher propensity to consume. Therefore, tax rebates to lower income individuals enacted under the label of stimulus will have a much higher multiplier effect than tax rebates to the higher income brackets. Why? Dollar for dollar, lower income classes spend more of their disposable income on consumption which is critical for an increase in both monetary velocity and aggregate demand. People who saved the rebate checks did not stimulate the economy, which is why tax cuts/rebates for an indebted consumer will not be nearly as stimulative as effective fiscal policy.

    I also wonder if anyone wonders, He gave banks our money so they can lend it back to us with interest?
    Obama did not give banks money. Do not get it twisted, FDIC banks are flush with excess reserves. However, Obama has nothing to do with monetary policy.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  5. #65
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by MrVicchio View Post
    Obama suggests value-added tax may be an option - Yahoo! News

    So much for the "No taxes on middle class" pledge. He'll push it. Mostly because the man has ZERO grasp on how a free market economy works... or he DOES and... well let's assume he's really not like that eh?
    If he gets rid of the income tax, or dramatically cuts then I don't the problem. Even Peter Schiff conceded on his blog that a consumption tax would be a preferable option over an income tax.

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

    Quote Originally Posted by Hatuey View Post
    Why don't you draw us a cartoon about Wal-Mart factories in China using little kids to make the pens you use to draw your 3rd rate comics? Companies like Wal-Mart see China as very attractive because of stuff like that.
    Sorry, so sorry.
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    when you have NO MORAL COMPASS.

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

    Quote Originally Posted by Australianlibertarian View Post
    If he gets rid of the income tax, or dramatically cuts then I don't the problem. Even Peter Schiff conceded on his blog that a consumption tax would be a preferable option over an income tax.
    Consumption taxation is regressive. Maybe if income taxes were eliminated for those earning less than $50k/yr, and then marginally phased in to say 35% capping at $10 million, such an idea could be both stimulative and fiscally feasible.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by bicycleman View Post
    But you are assming he's thinking, when his track record doesn't show that.
    Now there's a brilliant argument. You've got some foam there on the corner of your mouth...

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

    Quote Originally Posted by SouthernDemocrat View Post
    A rebate is a tax cut. You are arguing semantics. If you pay less in taxes than you otherwise would, that is a cut.
    No tax cut. Only the W4 form was manipulated to make us take home more. In my case, a paltry extra $15.

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

    Quote Originally Posted by NoJingoLingo View Post
    Now there's a brilliant argument. You've got some foam there on the corner of your mouth...
    Actually he's right.

    Exactly how many broken promises is Obama up to?
    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

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