Volcker: Taxes likely to rise eventually to tame deficit

[emazur]

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

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.

YouTube - Watch out! Obama administration is looking to implement a Value Added Tax (VAT tax) (http://www.youtube.com/watch?v=hLiO622FeDg)

[Chester Copperpot]

by hook or by crook.. carbon tax, health care premiums, VAT.. etc.. whatever it takes to fund govt

[tangent4ronpaul]

Better idea - DOWNSIZE the federal gvmt and stop spending money we don't have. Like any responsible family, pay off part of your debt before spending anything and then make do on what is left.

-t

[roho76]

I fail to see the value.

How can they even call it that? That reminds me of Hitlery's Christmas present commercial with health care and carbon taxing. WTF? Tax me to death and I should thank you like you just bought me a fucking iPod or something? With my own money no less? No thanks I don't except those kinds of presents and I sure as he'll can find better value elsewhere.

[Bman]

In defense (can't believe I'm actually doing this) of Bush Sr. He didn't create any NEW taxes, he just increased existing taxes.