New Tax Coming....

[Spring10]

Pelosi says new tax is 'on the table'
By Michael O'Brien - 10/06/09 10:59 AM ET
A new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.

The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the healthcare for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a healthcare component cost.

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that's one part of it," the Speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate consuming most lawmakers' time, and that it may come as part of a larger overhaul to the tax code.

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

[RPMDAD]

I don't like Pelosi at all and hope she gets voted out. I think she is a liar. The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans. A VAT affects all Americans poor, middle and upper class. 6% state sales tax on $100.00 = $6.00 add a 4% Fed. VAT on top sales tax = $10.00. Further details and discussion at
Pelosi uses the VAT word!

[Spring10]

All I can think of, it's going to increase the black market for services and goods. I feel really, really sorry for the next generation that's going to pay all the taxes coming.

[EmptyTimCup]

Originally Posted by RPMDAD

I don't like Pelosi at all and hope she gets voted out. I think she is a liar. The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

only if the VAT is applied to high dollar items

Excaldes, Ferraris, Porches, houses over $ 750k .... boats over 40 feet

[chernmax (Premo)]

Yeah I read about it here!!!

Pelosi uses the VAT word!

[ImnoMensa]

We have a lot of new taxes coming. They wont be called taxes, but thats what they wil be.

The health care tax will come 3 years before health care.
Then there's the Global warming , Cap and Trade tax.
Then Pelosi's VAT tax.
Then we still have to pay for the Trillion dollar bailout.

But Obama promised he would not raise taxes or hurt the Middle Income folks, How's that Hopey- Change thing coming.?

[Spring10]

Even if and this is a big if, he doesn't raise taxes on the middle class, when he gets voted out, his predecessor will HAVE to raise taxes. And the VAT tax starting out small and only on luxury goods? It will increase so that anyone buying anything will be paying it. Mentality of the middle class thinking it’s only going to stick it to the wealthy will end up paying it too, just like they do in Europe where it’s 20%. Of course the poor can still pop out kids, do drugs, and not work and continue to get all kinds of subsidies from the gov.

[Jigglepuff (Premo)]

Pigs at the trough. Pelosi, B-Rock, Hoyer and the crew....nothing better to do than mess with the common man.

Quoting slick Willie "It depends on the meaning of what is is".

Quoting today's "benevolent" donky's, "We did no raise your income tax; so we did not raise taxes.

I would love to ask one of the Head Donky's In Charge; "What did we (the people) do wrong to deserve this?" I'm sure the answer would make me go postal.