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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.
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Hey Nancy. . . .What do you think a Vat Tax will do to middle-class Americans? We shop, we buy things. . . .a Vat Tax is a tax to the middle-class. How do idiots like this make it to "Speaker of the House" of the United States?
Back in June, I posted this blog explaining the VAT tax:
There is a lot of buzz going around Washington concerning sneaking a new "National Tax" called VAT into the HR-15 (The National Health Insurance Act). The "Value Added Tax" is a European-style value-added tax that would substantially raise the price of everything from autos to restaurant meals.
According to DNRonline: The VAT will be assessed in addition to existing income and sales taxes now being paid by individuals, families and businesses. As presently designed, the VAT is a tax built into the price of a product to be paid by every consumer.
There is a lot of buzz going around Washington concerning sneaking a new "National Tax" called VAT into the HR-15 (The National Health Insurance Act). The "Value Added Tax" is a European-style value-added tax that would substantially raise the price of everything from autos to restaurant meals.
According to DNRonline: The VAT will be assessed in addition to existing income and sales taxes now being paid by individuals, families and businesses. As presently designed, the VAT is a tax built into the price of a product to be paid by every consumer.
The Value-Added Tax will be imposed by the government on the value added at each stage of a product’s production. The VAT is hidden, a tax added by the vendor to the price we pay for goods and services. It is not openly itemized like a sales tax. It is not a tax to replace existing taxes. Currently, this tax is proposed to be 5 percent. The VAT in Great Britain, as well as other European nations, is now approaching 20 percent.
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Just think the "VAT" tax can easily be avoided by simply not ever buying ANYTHING. . . . .
or as one blogger put it:
What people don't understand is that if Congress passes cap and trade or a VAT, it will hurt the lower and middle class more than it will the wealthy. Do you think Al Gore cares about his electricity bill? Or the cost of a TV, cell phone, automobile, etc.? The extra thousand to him is chump change. But to the rest of Americans, it could be the difference between stability and bankruptcy.
Stand by America; you're about to get taxed, taxed and more taxed…
http://blogs.reuters.com/james-pethokoukis/2009/09/30/obamas-not-so-secret-plan-to-raise-taxes/
http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table
Just think the "VAT" tax can easily be avoided by simply not ever buying ANYTHING. . . . .
or as one blogger put it:
What people don't understand is that if Congress passes cap and trade or a VAT, it will hurt the lower and middle class more than it will the wealthy. Do you think Al Gore cares about his electricity bill? Or the cost of a TV, cell phone, automobile, etc.? The extra thousand to him is chump change. But to the rest of Americans, it could be the difference between stability and bankruptcy.
Stand by America; you're about to get taxed, taxed and more taxed…
http://blogs.reuters.com/james-pethokoukis/2009/09/30/obamas-not-so-secret-plan-to-raise-taxes/
http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table
