Here come the new taxes
- Thread starter Ollie
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A VAT's Bottom Line
What would it cost? Emanuel argues in his book that a 10 percent VAT would pay for every American not entitled to Medicare or Medicaid to enroll in a health plan with no deductibles and minimal copayments. In his 2008 book, "100 Million Unnecessary Returns," Yale law professor Michael J. Graetz estimates that a VAT of 10 to 14 percent would raise enough money to exempt families earning less than $100,000 -- about 90 percent of households -- from the income tax and would lower rates for everyone else.
And in a paper published last month in the Virginia Tax Review, Burman suggests that a 25 percent VAT could do it all: Pay for health-care reform, balance the federal budget and exempt millions of families from the income tax while slashing the top rate to 25 percent. A gallon of milk would jump from $3.69 to $4.61, and a $5,000 bathroom renovation would suddenly cost $6,250, but the nation's debt would stabilize and everybody could see a doctor.
I would take that. but with out the "Pay for health-care reform"
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What would it cost? Emanuel argues in his book that a 10 percent VAT would pay for every American not entitled to Medicare or Medicaid to enroll in a health plan with no deductibles and minimal copayments. In his 2008 book, "100 Million Unnecessary Returns," Yale law professor Michael J. Graetz estimates that a VAT of 10 to 14 percent would raise enough money to exempt families earning less than $100,000 -- about 90 percent of households -- from the income tax and would lower rates for everyone else.
And in a paper published last month in the Virginia Tax Review, Burman suggests that a 25 percent VAT could do it all: Pay for health-care reform, balance the federal budget and exempt millions of families from the income tax while slashing the top rate to 25 percent. A gallon of milk would jump from $3.69 to $4.61, and a $5,000 bathroom renovation would suddenly cost $6,250, but the nation's debt would stabilize and everybody could see a doctor.
I would take that. but with out the "Pay for health-care reform"
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I had no idea it was this bad:
The Treasury is borrowing 46 cents of every dollar it spends,
The Treasury is borrowing 46 cents of every dollar it spends,
add onto it this little tidbit and you'll see where we are REALLY headed... http://www.ft.com/cms/s/0/71520770-4a2c-11de-8e7e-00144feabdc0.html?nclick_check=1
Why not just tax the chit out of any import coming in??
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Ollie
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They do.
That is why Honda builds in the U.S..
They can't raise it any more for fear of trade wars.
because import tariffs have been a proven failure...
grrrrrrr. every option we have is a terrible option.
T
thomps33
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That would put our taxes right in line with other socialist states
Wonder how many would actually quit working and stand in line for the freebeesWonder how many would actually quit working and stand in line for the freebees
I will work until it costs me money to work. Too proud for handouts.
That would put our taxes right in line with other socialist states
Hmmmmm can I quit working & still ride my snowmobile?
Damn work gets in the way of riding anyhow
That is what I am saying.. But big gov would have to open up our own oil supplies to us. Just like autos. Just like everything. We can sustain ourselves as a nation if they would just let us.
The idea has merit.
National sales tax, and abolish the IRS. That's a fair tax. Without the IRS, no more tax based welfare (getting back more than you pay). No more IRS hassling businesses. No more invasion of privacy by the IRS. No more complicated tax laws.
Your simply taxed on what you spend. If you could do that, make it 25% sales tax for all I care. Everyone pays, if they buy. Drug dealers and panhandlers would suddenly be paying taxes. People selling food stamps (virtually) would pay taxes. Anyone earning undeclared wages would pay taxes. It all sounds pretty good to me. I guess the only down side, would be people who enter the country illegally, could take untaxed money, and ship it home tax free. Lots of them don't pay taxes anyways though.
And besides, Obama hates it, so it must be a good idea.
National sales tax, and abolish the IRS. That's a fair tax. Without the IRS, no more tax based welfare (getting back more than you pay). No more IRS hassling businesses. No more invasion of privacy by the IRS. No more complicated tax laws.
Your simply taxed on what you spend. If you could do that, make it 25% sales tax for all I care. Everyone pays, if they buy. Drug dealers and panhandlers would suddenly be paying taxes. People selling food stamps (virtually) would pay taxes. Anyone earning undeclared wages would pay taxes. It all sounds pretty good to me. I guess the only down side, would be people who enter the country illegally, could take untaxed money, and ship it home tax free. Lots of them don't pay taxes anyways though.
And besides, Obama hates it, so it must be a good idea.
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Ollie
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IF they did a flat tax and did away with everything else, yea.
I would be all for it.
They could generate as much revenue with a 20% flat tax as they get now.
The problem with a flat tax and the reason libs HATE it is simple.
It's obvious when they raise taxes.
Now there are SO freekin many taxes that they can pretty much do what they want and no one notices because it isn't redily apparent.
If they change a flat tax, it's obvious, it can't be hidden in other bills.
Besides the tax they are talking about is addition to the existing taxes, not instead of.
I would be all for it.
They could generate as much revenue with a 20% flat tax as they get now.
The problem with a flat tax and the reason libs HATE it is simple.
It's obvious when they raise taxes.
Now there are SO freekin many taxes that they can pretty much do what they want and no one notices because it isn't redily apparent.
If they change a flat tax, it's obvious, it can't be hidden in other bills.
Besides the tax they are talking about is addition to the existing taxes, not instead of.
This VAT tax is interesting discussion for sure, but as Obama himself said he is not interested. The first major new tax we are going to see is on employee health care benefits. This tax would be a home run for the administration, as it accomplishes two goals: raising revenue and punishing private insurance. And they can structure it so the employer pays the tax and joe shmoe never sees the bill.
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Ollie
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This VAT tax is interesting discussion for sure, but as Obama himself said he is not interested. The first major new tax we are going to see is on employee health care benefits. This tax would be a home run for the administration, as it accomplishes two goals: raising revenue and punishing private insurance. And they can structure it so the employer pays the tax and joe shmoe never sees the bill.
He may never see the bill, but he will see the pink slip.
I would love to see no more irs and just have a vat!!!! that solves a lot of problems!!! untill then tax the illeagals till they leave!!! LOL
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