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Volcker: VAT And Carbon Tax Are Coming

From a cheering Reuters:

Volcker: Taxes likely to rise eventually to tame deficit

Tue Apr 6, 2010

NEW YORK (Reuters) – The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

Of course the idea of actually cutting entitlements would never occur to anyone. No, instead we have just enacted the largest entitlement in our nation’s history.

Speaking of which, the New York historical Society was a good place for the administration to broach this idea.

Throughout history, it has been egregious taxes such as this that spark revolutions. Such as our own.

We could be in for ‘a new birth of freedom,’ after all.

(Thanks to BillK for the heads-up.)

This article was posted by Steve on Wednesday, April 7th, 2010. Comments are currently closed.

14 Responses to “Volcker: VAT And Carbon Tax Are Coming”

  1. BillK says:

    Finally.

    From his fellow socialists at Reuters:

    Volcker: Taxes likely to rise eventually to tame deficit

    (Reuters) – The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

    Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax “was not as toxic an idea” as it has been in the past and also said a carbon or other energy-related tax may become necessary. …

    http://www.reuters.com/article/idUSTRE6355N520100406

    Shocking to absolutely no one, but still – “I told you so.”

    The bottom line:

    Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. “If at the end of the day we need to raise taxes, we should raise taxes,” he said.

  2. Right of the People says:

    “Is there any other other way of “getting entitlement costs under control”?

    Anyone?”

    Here’s a radical idea, let’s just get rid of them.

    • TwilightZoned says:

      “Here’s a radical idea, let’s just get rid of them.”

      You got it. Once the entitlement population hits over 50% they will never give them up and continue to elect those who will put ever increasing amounts into the coffers. With 45-48% on the dole now, we are extremely close to that reality.

      Who, in their right mind, even thinks increasing taxes will go to paying down the debt? This democrapic ruling congress loves the idea of spending even more money and spreading the wealth into their own pockets. It’s past time to throw the bums out.

    • proreason says:

      Things are becoming much clearer.

      As Rusty says, the masks are coming off. They aren’t ashamed, they are proud and emboldened.

      As Hannity, TZ and many others have said, November is the defining moment.

      The Moron got elected by subterfuge, but as the marxists’ power plays work as designed, their chests swell up and the real agenda is revealed.

      So now it is clear to anybody who pays attention.

      But many will never pay attention.

      Perhaps, as BillK argues, there is no hope. Perhaps the dumbing down and buying off of America is a fait accompli.

      Well, I don’t think so, but if I’m wrong, my second preference is to know now, while there is still a little time to develop a new life strategy knowing that whatever I earn in the future will be stolen from me…..if I stay in this country.

      My hunch is that a lot of poeple are thinking the same thing.

    • Petronius says:

      Pro: “My hunch is that a lot of people are thinking the same thing.”

      The Stamp Act of 1765 was intended to pay down the national debt resulting from the Seven Years War (called the French and Indian War in the American colonies). The attitude in Parliament was that the Americans should pay at least a small part of the cost of their own defense. And so Parliament imposed a stamp tax that ranged from one pence to a few shillings, depending on the type of document.

      And for this paltry amount –– and as a matter of principle –– the Americans staged a revolution and fought a bloody seven years war for independence.

      “Don’t tread on me!” was their motto.

      Today, however, it seems that many Americans will tolerate almost anything. And those who dare to protest are publicly vilified as “racists” or “terrorists.” My, how the mighty have fallen.

      The Isle of Man is one of the nearest things on earth to Galt’s Gulch. The island is a self-governing, British Crown dependency. It is not a member of the EU. This means that the Isle of Man makes its own laws, fiscal and social policies, but the UK is responsible for defense and external relations.

      The Isle of Man is ruled by its 1,000 year-old Viking parliament, the Tynwald. There are no real political parties; one group favors greater devolution from the UK, and the other favors total independence as a sovereign republic. According to the Isle’s organic documents, it is expressly constituted as a “prosperous, law-abiding, caring, and free enterprise society.”

      It’s chief industry is offshore banking. The banks (Zurich International, Allied Irish, Barclays, Cayman National, etc.) offer accounts in most foreign currencies.

      The Isle of Man is not subject to UK, Irish, or EU taxes. It has no death tax or inheritance tax. There is no capital gains tax. There is no wealth tax. There is no corporation tax, except a 10% income tax on the banks. The personal income tax is a flat 10% (standard rate) on amounts above the personal exemption (£9,200) or 18% (higher rate for income over £19,700). For the super-rich, there is a maximum tax cap of £115,000 per person. There is a VAT of 15%. As you might expect, housing on the island is very expensive.

      If the USA is going the route of European socialism, with nationalized health care, VAT, death taxes, higher taxes on capital gains, dividends, and “earned income,” wheelchair taxes, the souped-up IRS, and all the trimmings, and with Liberal tyranny, corruption, open borders and multiculturalism, permanent unemployment, back-breaking debt, inflation, and a depreciating dollar to boot, then for many the question must inevitably arise: Why continue to live here?

      This November election and the 2012 election will be decisive.

  3. proreason says:

    Shout it loud. Shout it strong.

  4. Rusty Shackleford says:

    I do like how the “news” is now flatly referring to them as entitlement costs, rather than “social needs programs”.

    This type of brazen honesty from the MSM can only help the conservatives.

  5. wardmama4 says:

    VAT has not been the be all, end all solution (see Germany for failure or of course France and England which are also pushing all their budgetary problems onto Germany so their books look black)

    And of course the past year has shown the World that the Glowball Warning is just pure made up fiction to make taxes to make the entire World a 3rd World cesspool rampant with corruption (i.e. the Leaders) and disease and poverty (i.e. the People).

    Been there – done that (how many times historically?!?) And it’s failed every single time.

    Isn’t a symptom of mental illness – doing the same thing over and over again expecting a different result?

    The inmates are truly running the asylum and the US.

    – ‘Here’s a radical idea, lets’ just get rid of them.’-

    Works for me.

  6. thetoysurgeon says:

    Typical, They spend like drunken sailors and then expect us to pay for it. Someone said Not on my watch. When our state decides to represent us in DC then I might pay it. If this comes to be, no one will be buying anything, kinda like whats going on now. Another nail in the USA economy coffin. Wait til they force you to buy a GM vehicle.

    • Rusty Shackleford says:

      Well, even drunken sailors get to wake up in their own vomit. Usually, that’s a defining moment in a person’s life. Not so a liberal democrat.

  7. U NO HOO says:

    Buehler, Buehler, Buehler…

    I-80 isn’t getting tolled, YIPPEE!

  8. robstoddard says:

    I’ve got a “radical idea” from a few hundred years ago… to get rid of entitlement costs. Read “A Modest Proposal”

    Now, who still thinks getting rid of entitlements is radical?


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