More Good Policy from Obama (Seriously)

[jtabeb]

Man, they are actually talking about workable solutions, thank God. (Don't listen to the rest of the crap in the ZH commentary by GW, it's GOOD policy, not BAD policy).

VAT tax + Carbon TAX (not this cap & trade BULLSHIT) = GOOD POLICY!

I hope they actually do this and fully support their efforts to enact this (And I would ask YOU to do so too!)

http://www.zerohedge.com/article/vol...s-curb-deficit

Paul Volcker says that the U.S. will probably need to raise taxes to curb the deficit.
Specifically, at a speech to the New York Historical Society, Volcker said that America should consider imposing a "value added tax" - a type of national sales tax used in Europe - and also carbon or other energy-related taxes.

[chr5648]

Re: More Good Policy from Obama (Seriously)

More taxes is a solution?

How about cutting spending.

[Slimprofits]

Re: More Good Policy from Obama (Seriously)

jtabeb, don't take the bait dude

they're going to add the VAT on top of the income tax and everything else, not as a replacement

[sandwind]

Re: More Good Policy from Obama (Seriously)

According to my understanding and common sense taxes are killing trade and industry and everything is less profitable and more expensive. You for example have 1000$ and your college have 1000$. You give your college let's say lesson in piano playing that cost 500$/h Government takes big tax 50% so your college have 500$ and you 1250$. Next he is giving you a lesson in computer skill 500$/h. You got 750$ he got 750$. After some more similar cycles all your money goes to government:mad: I don't like taxes

More over I strongly believe that most of government spending are bad allocations of capital as people knows better what they want. They should cut spending

[vinoveri]

Re: More Good Policy from Obama (Seriously)

Man, they are actually talking about workable solutions, thank God. (Don't listen to the rest of the crap in the ZH commentary by GW, it's GOOD policy, not BAD policy).

VAT tax + Carbon TAX (not this cap & trade BULLSHIT) = GOOD POLICY!

I hope they actually do this and fully support their efforts to enact this (And I would ask YOU to do so too!)

http://www.zerohedge.com/article/vol...s-curb-deficit

Paul Volcker says that the U.S. will probably need to raise taxes to curb the deficit.
Specifically, at a speech to the New York Historical Society, Volcker said that America should consider imposing a "value added tax" - a type of national sales tax used in Europe - and also carbon or other energy-related taxes.

sorry dude, but must disagree, particularly on the Carbon tax BS, and the lack of draconian spending cuts - I don't want big gov, but apparently a lot of folks not only do, but depend on it (this shows the balkanization of the population, and the free, and self-reliant folks are being increasingly marginalized):
http://www.itulip.com/forums/showthread.php?t=15089

Recent studies show that Americans are more dependent than ever on government - the biggest threat to their freedom of all. According to the Tax Foundation, 60% of households in America in 2004 received more in benefits and services from government than they paid in taxes. Under President Obama's massive spending hikes, that will soon rise to 70% or more.

A VAT would be in principle a good idea IMO (taxing consumption and thus encourage thrift), but ONLY with a corresponding dramatic cut in the taxes on labor.

Hey, how about this for the solution:
Fed keeps funds rate at 0% indefinitely and tells the market so AND
Gov raises corporate tax rates for the financial sector and large enterprises

Outcome:
companies ramp up and invest wildly, M&A, and VC activity goes through the roof, companies EBIT sores and Dow goes to 40,000 in the first year; tax revenues shoot way up. and consumers start spending now that their 401ks are up 300% - hey what's not to love, free lunch for everyone (at least for a few years anyway):rolleyes:

[Starving Steve]

Re: More Good Policy from Obama (Seriously)

Much higher taxes are an EXCELLENT policy. I agree with Paul Volcker, 100%.

Pay-down the deficits and begin to de-flate the economy. Give our kids a break in life.

Ronald Reagan was the worst president the United States ever had because of his obscene supply-side economic policy. Deficits DO count, and they have to be paid-back. And dumping deficits onto future generations is obscene.

There are no good Republicans, and Ronald Reagan was the worst of a very selfish and sick bunch of people. We can thank Ronald Reagan and Howard Jarvis and Arthur Laffer for the bankruptcy of California to-day.

[aaron]

Re: More Good Policy from Obama (Seriously)

If taxes go up much more, I am leaving. I can no longer support soldiers and bureaucrats AND my own family. Enough is enough!

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Good policy would be --> close 600 of the 700 military bases we have over the next 24 months. If any country wants us to stick around it will cost them. Put those soldiers to work nation building HERE until their tours of duty are up. Yes, they must be unarmed.

Start means testing social security and medicare IMMEDIATELY.

Shrink all federal government job salaries by 5% a year until we have a government we can afford.

Add a 10% import tax across the board. You need to tax the things you DO NO WANT. I want us to add value here. I do not want us to rely on imports of anything.

- Get rid of the capital gains favorable tax rate.

Institute a "millionaire" tax on those making more than x million a year.

- Close all the loopholes in the inheritance tax.

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[jtabeb]

Re: More Good Policy from Obama (Seriously)

Much higher taxes are an EXCELLENT policy. I agree with Paul Volcker, 100%.

Pay-down the deficits and begin to de-flate the economy. Give our kids a break in life.

Ronald Reagan was the worst president the United States ever had because of his obscene supply-side economic policy. Deficits DO count, and they have to be paid-back. And dumping deficits onto future generations is obscene.

There are no good Republicans, and Ronald Reagan was the worst of a very selfish and sick bunch of people. We can thank Ronald Reagan and Howard Jarvis and Arthur Laffer for the bankruptcy of California to-day.

SS, I think this is the FIRST TIME you and I are in FULL AGREEMENT.

(TAX CONSUMPTION. TAX unearned income, DON'T TAX earned income).

[kriden]

Re: More Good Policy from Obama (Seriously)

Then this should make your day:

Proposal would put Ronald Reagan's face on the $50 bill

http://articles.latimes.com/2010/mar...fty3-2010mar03

[chr5648]

Re: More Good Policy from Obama (Seriously)

Pay-down the deficits and begin to de-flate the economy. Give our kids a break in life.

Why would the politicians (democrats or republican) ever do such a thing? Why would they ever want to give their power away?

Even if they did pay it down, they would spend and get back into debt on some stupid war or social program anyway.

[radon]

Re: More Good Policy from Obama (Seriously)

jtabeb, don't take the bait dude

they're going to add the VAT on top of the income tax and everything else, not as a replacement

Agreed, the old taxes will never no away. They will just add new ones to strangle the economy further, and burden us with more ridiculous paper work. Repealing the income tax is a fantasy. Its like the government getting smaller. It is something I dream about, but at this point it is about as close as the Pleiades.

[jtabeb]

Re: More Good Policy from Obama (Seriously)

they're going to add the VAT on top of the income tax and everything else, not as a replacement

That, I would NOT support. (And it's BAD POLICY too).

[ThePythonicCow]

Re: More Good Policy from Obama (Seriously)

That, I would NOT support. (And it's BAD POLICY too).

I agreed that our health care system needed major overhaul, but I would not support the efforts by our political "leaders" to improve health care, on the grounds that no good could come of it given the current level of fraud in Washington, DC.

Similarly I agree that the Infernal Revenue Tax needs abolition and that the Fair Tax would be an improvement, but I cannot support any effort by our political "leaders" to get any of a VAT or Fair tax. No good will come of such efforts, only more taxes. No matter what they say, the income tax is going no where.

[jtabeb]

Re: More Good Policy from Obama (Seriously)

I agreed that our health care system needed major overhaul, but I would not support the efforts by our political "leaders" to improve health care, on the grounds that no good could come of it given the current level of fraud in Washington, DC.

Similarly I agree that the Infernal Revenue Tax needs abolition and that the Fair Tax would be an improvement, but I cannot support any effort by our political "leaders" to get any of a VAT or Fair tax. No good will come of such efforts, only more taxes. No matter what they say, the income tax is going no where.

Never say never Cow, Never say Never. I've seen it proven wrong WAY too many times.

[Rajiv]

Re: More Good Policy from Obama (Seriously)

Here was a thread I had posted a couple of months ago.

Adopting a VAT is a Necessity for the US

also a good primer on the VAT - The Value Added Tax (VAT)

The value-added tax, or VAT, is the most widespread and successful taxation system in use around the world today. More than 140 nations utilize the value-added tax system as a means of building government revenue.

Unfortunately, the foreign VAT also acts as a means of blockading American exported goods to these nations. The value-added tax is plugged on to every good and service inside their economy, making their own domestic goods cheaper.

Every time a foreign nation joins the World Trade Organization it almost always replaces their old import tariffs with a consumption tax – almost always in the form of a VAT. Their foreign consumption tax acts just like a tariff, but it does so within the legal confines of the WTO and other international accords.

The only developed economy to have completely missed the bandwagon is the United States. Even Canada and Mexico maintain and operate VAT systems, all while still being full members of the free trade zone created by the North American Free Trade Agreement. Canada charges U.S. producers an access fee for their economy. Mexico charges U.S. producers an access fee for their economy. The United States has nothing of the sort.

This lack of border-adjustment is a major part of an overall system that keeps America uncompetitive in the international marketplace.

In 2009, each of the top trading “partners” of the U.S. utilized the value-added tax. Canada (5 percent), China (17 percent), Mexico (16 percent), Japan (5 percent), Germany (19 percent), the United Kingdom (17.5 percent), South Korea (10 percent), France (19.6 percent), Taiwan (5 percent), and Brazil (ranges from 5-25 percent) each carry a VAT.



When an American good is sold in those countries the cost of the good is marked up by whatever the VAT demands. After paying to produce and ship the good, we must then pay to simply get the good through customs and into the hands of our buyers. At the same time, those same nations can easily export goods to the United States with zero additional charges at the border.

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India adopted a VAT (at 12.5%) in 2005