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Obamas "Show Me the VAT" Commission

Obamas "Show Me the VAT" Commission

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Published by: Debunking Dems on Apr 29, 2010
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04/29/2010

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Obama’s “Show
M
e the VAT” Commission
 
Meeting for the first time this week, Deficit Commission being used by Obama to pushNational Sales Tax to pay for his binge-spending
 
OBAMA WILL USE DEFICIT COMMISSION TO PUSH FOR EUROPEAN-STYLE VALUE-ADDED TAX
Executive Director of Obama’s fiscal commission says VAT among options to bring more revenue
 
Obama told CNBC that VAT would be “novel for the United States,” is among options to
"I know that there's been a lot of talk around town lately about the value-added tax. That is somethingthat has worked for some countries. It's something that would be novel for the United States." (CNBC's"Street Signs," 4/20/10)
Obama's economic team has already calculated how large VAT would need to be in order to pay for theirbinge-spending
“…One way to reach that 3% goal, by the calculations of 
Mr. Obama's economic team: a 5 percentvalue-added tax ..." (John Harwood,
The New York Times
, 4/18/10)
Obama economic adviser Paul Volcker says the VAT is needed to get Obama’s deficit under control
"The United States ... may need to consider a European-style value-added tax, White House adviserPaul Volcker said on Tuesday. Volcker ... said the value-added tax 'was not as toxic an idea' as it hasbeen in the past ... 'If at the end of the day we need to raise taxes, we should raise taxes,' he said."(Volcker,
Reuters
, 4/6/10)
DESPITE THE FACT THAT THE TAX WOULD VIOLATE HIS CAMPAIGN PLEDGE,
 
HIT MIDDLE-CLASS AMERICAN FAMILIES HARD ...
 
Co-
Chair of Obama’s Deficit Commission, Erskine Bowles, says that the President wants “everything on thetable” to pay
for huge deficits, even if it breaks his campaign pledge regarding taxes
"What i feel bound by is the President looked Senator Simpson and me in the eye and he said,'Everything is on the table.' ... We have to have everything on the table," said Bowles. ( Fox's "Fox NewsSunday," 4/25/10)
Obama’s pledge was to have no tax increases of any kind on families making less than $250,000
 
Value-Added Tax being considered by Obama would in fact violate his tax pledge
Because the VAT is a tax on the transfer of goods, services and would increase the price of EVERYTHINGSome experts suggest a VAT rate at 20%
 
“At that rate, a VAT that covers all goods and services in the economy –
including food,clothing, housing, and health care
 –
would collect an additional $1,260 billion a yearand cost every U.S. household $10,680 annually," says Curtis Dubay of the HeritageFoundation.
 
Which is why this European-
style tax would fall “heavily on the poor”The VAT Tax is “hugely regressive, falling heavily on the poor,” says Lori Montgomery of the
Washington Post.

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