Does President Obama want to impose a VAT tax?

Great, that is all we need. 🙄

(H/T to Reason)

Does President Obama have a secret plan to raise taxes on middle-class Americans — and,well, pretty much everybody else — with a European-style, value-added tax? Actually, it’s not such a big secret. Connect the dots:

1) The joint statement from the just-concluded G20 Summit in Pittsburgh called for balanced global growth — which means Americans must spend less and save more and reduce its budget deficit.

2) That same weekend, John Podesta, co-chairman of Obama’s presidential transition team and an outside White House adviser, tells a Bloomberg reporter that a value-added tax is “more plausible today” than ever, adding that “there’s going to have to be revenue in this budget.” A VAT is a kind of consumption tax.

3) Yesterday, the Center for American Progress, the liberal think tank with close White House ties, holds a conference on the rising national debt. While speaker after speaker — Paul Krugman, Roger Altman, CAP President Podesta (again), Laura Tyson — admits entitlement spending must be reduced, they also agree that taxes must be raised. Altman suggests $400 billion in new tax revenue is needed almost immediately to calm financial market fears, and a VAT would be a great way of doing it. That’s $400 billion a year, by the way, not over ten years.

4) Also, yesterday was the first meeting of President Obama’s tax reform panel led by former Federal Reserve Chairman Paul Volcker. In a two-part interview with Charlie Rose airing yesterday and today, Volcker says that if Washington can’t get spending under control, either a VAT or a carbon tax would be effective revenue raisers. “Those are two big ones,” he says.

5) As they used to say in the Soviet Union, “It’s no coincidence.” This is also the conclusion of one Washington insider with ties to the White House economic team: “Does this all add up to a trial balloon? Of course, it’s a trial balloon. And I expect the administration will propose major tax reform, including a VAT.”

via James Pethokoukis – Obama’s not-so-secret plan to raise taxes

Terrific. First Obama wants to shove healthcare down our throats and then he wants to tax the living hell out of us; to pay for it. Fantastic. 🙄

Somewhere, John McCain is smiling. Because he warned America, that if they elected Obama to be President; that this would be the result. Did America listen? Of course not. Because of mean ol’ Bush; people wanted change. While I can understand the desire for change. But did America want this sort of change? Of course not. However, elections have consequences; and this is one of them.

Realistically however, I doubt that the White House would be able to get something of this nature. It just does not seem feasible. The reason being that Congress knows that they are on borrowed time.  The midterms are coming; and I highly doubt that anyone in Congress would be that crazy to try and pass anything of this nature. Heck, there already is great infighting over the “Public Option” in that healthcare bill. So, this would even lead to more that.

So, while it would not hurt to be vigil for something of this nature. I highly doubt that the Democrats are going to attempt to do something this hair-brained.