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

  1. #81
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by MrVicchio View Post
    I don't believe Obama is capable of replacing the income tax with a consumption style tax. I mean, I don't think he idealogically could bring himself to consider that. VAT as and added tax, yes. Replacement... no way in hell.
    of course not, the income tax gives dems in congress power way way beyond anything the founders contemplated. To use promises of jacking up taxes on the 1% who already pay as much as the bottom 95% to buy the votes of the majority is a power never forseen as being legitimate by the Founders.



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

    Two resources that describe what a value-added tax (VAT) is, how it functions, empirical evidence, etc.

    http://assets.opencrs.com/rpts/IB91078_20030915.pdf

    http://www-wds.worldbank.org/externa...multi_page.pdf
    Last edited by donsutherland1; 04-23-10 at 10:35 AM.

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

    Quote Originally Posted by TurtleDude View Post
    I don't. I think Obama is a clown, a puppet and a figurehead. A guy who never really had a job that required any clue about economic reality. And I find the worship of that puppet to be hilarious
    The fact that repubs have to paint Obama with the very epithets liberals levied against the Shrub is hilarious. They had to grit their teeth for 8 years listening to it and now... Obama is a clown and a puppet, how original. But if it makes you feel better... Don't worry, I'm sure you'll get the chance to put another dumbass in the White House some day.

  4. #84
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by NoJingoLingo View Post
    The fact that repubs have to paint Obama with the very epithets liberals levied against the Shrub is hilarious. They had to grit their teeth for 8 years listening to it and now... Obama is a clown and a puppet, how original. But if it makes you feel better... Don't worry, I'm sure you'll get the chance to put another dumbass in the White House some day.
    You do know that, if his lack of eligibility continues to be ignored, he is only entitled to 4 years. Even then, I doubt that he'll survive the November elections.

  5. #85
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by roughdraft274 View Post
    So by your logic if Obama wouldn't have given a rebate this year then he would have raised taxes?

    I just don't think you're being honest. They passed a one time rebate in 2008. If it said a rebate in 2008 and one in 2009 then yes, Obama would have been keeping the status quo cause he didn't have to do anything, he just let the existing rebate stay. If he and his congress actually had to add it in there though then it's his work and his tax cut.

    And besides, many conservative on here are complaining about how he would LOVE to raise taxes, but when given the chance to just sit on his thumb and do nothing, (and by your logic) raise taxes by not give everyone the rebate, he and the congress chose to give the rebate. Regardless of how you look at it it pokes holes in the concept that he's just sitting around thinking of ways to raise taxes and ruin your entire life.



    I'm not the one calling this a tax cut or tax raise....


    people claim he is cutting taxes by re-rebating the existing rebate. That's whats dishonest....



    Fact is, he will have to raise taxes to pay for all his nonsense.


    And, no, I don't get a refund. Therefore I am paying more.


    This is why I never considered a "rebate" a tax cut. They take my money then give me the "priveledge" of a small stipend back?


    Please. Only fools would call what obama is doing a "tax cut"
    Let evil swiftly befall those who have wrongly condemned us

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

    Quote Originally Posted by Goldenboy219 View Post
    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.



    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.



    This is why I said I am no accountant. You bored the hell out of me.



    But yes, congress and all that. However, Obama's policies dictate tax increases. do you disagree?
    Last edited by ReverendHellh0und; 04-23-10 at 12:05 PM.
    Let evil swiftly befall those who have wrongly condemned us

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

    Quote Originally Posted by keymanjim View Post
    You do know that, if his lack of eligibility continues to be ignored, he is only entitled to 4 years. Even then, I doubt that he'll survive the November elections.
    Moderator's Warning:
    Obama suggests value-added tax may be an optionPlease refrain from posting conspiracy theories outside of the conspiracy theory subforum. The conspiracy theory concerning President Obama's birth is without foundation.[/url]

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

    Quote Originally Posted by F107HyperSabr View Post
    Why we try something really novel and state an honest Tea P opinion - "no taxes are any good at any time any where at any level "

    17% flat tax. or if that sucks, 10-15% reduction in federal and state income taxes.... that would be a start.

    Seriously, no one likes taxes but everyone wants services and better want a military defense and police and fire departments border guards and taking care of all of those Veterans that our little magnetic ribbons proclaim that we all support, and SPACE program, etc

    so how are we to fund all of that ?



    With taxes. You made whats called a strawman.
    Let evil swiftly befall those who have wrongly condemned us

  9. #89
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Reverend_Hellh0und View Post
    I'm not the one calling this a tax cut or tax raise....


    people claim he is cutting taxes by re-rebating the existing rebate. That's whats dishonest....



    Fact is, he will have to raise taxes to pay for all his nonsense.


    And, no, I don't get a refund. Therefore I am paying more.


    This is why I never considered a "rebate" a tax cut. They take my money then give me the "priveledge" of a small stipend back?


    Please. Only fools would call what obama is doing a "tax cut"
    You're merely arguing semantics. Fact is, he put more money back in tax-payers pockets. I bought a 500 dollar computer. It was listed for 750, but I got a mail in rebate of 250 which I sent off for. Regardless of whether they took the money off the purchase up front or whether they give it to me a week later, I still end up with the same amount of money in my pocket.

  10. #90
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    Re: Obama suggests value-added tax may be an option

    Quote Originally Posted by Reverend_Hellh0und View Post
    This is why I said I am no accountant. You bored the hell out of me.
    Come on.... It can't be that boring. Or is it

    But yes, congress and all that. However, Obama's policies dictate tax increases. do you disagree?
    I believe tax increases are a reality regardless of Obama's policies. In the absence of any bailouts, the federal government would be responsible for trillions upon trillions of dollars due to FDIC liabilities and unemployment/state liabilities.

    As has been said by a few, entitlement reform is going to be a necessary aspect of any fiscal consolidation plan.
    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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