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Obama considering VAT

Ironslave

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He just keeps getting worse and worse....

Obama suggests value-added tax may be an option - Netscape News

WASHINGTON (AP) - President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.

Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, ``I want to get a better picture of what our options are.''

After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding ``sense of the Senate'' resolution that calls the such a tax ``a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery.''

For days, White House spokesmen have said the president has not proposed and is not considering a VAT.

``I think I directly answered this the other day by saying that it wasn't something that the president had under consideration,'' White House press secretary Robert Gibbs told reporters shortly before Obama spoke with CNBC.

After the interview, White House deputy communications director Jen Psaki said nothing has changed and the White House is ``not considering'' a VAT.

Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill's production work and so on up the line to the retailer.

In the CNBC interview, Obama said he was waiting for recommendations from a bipartisan fiscal advisory commission on ways to tackle the deficit and other problems.

When asked if he could see a potential VAT in this nation, the president said: ``I know that there's been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It's something that would be novel for the United States.''

``And before, you know, I start saying 'this makes sense or that makes sense,' I want to get a better picture of what our options are,'' Obama said.

He said his first priority ``is to figure out how can we reduce wasteful spending so that, you know, we have a baseline of the core services that we need and the government should provide. And then we decide how do we pay for that.''

Volcker has said taxes might have to be raised to slow the deficit's growth. He said a value-added tax ``was not as toxic an idea'' as it had been in the past.

Since then, some GOP lawmakers and conservative commentators have said the Obama administration is edging toward a VAT.
 

tim290280

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Charging business for producing stuff. Great idea.

Next Obama can charge them for moving off shore to countries that actually like businesses.
 

Ironslave

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Charging business for producing stuff. Great idea.

Next Obama can charge them for moving off shore to countries that actually like businesses.

LOL. Yeah, i think we can all agree, business and innovation is necessary, this kills it.
 

MrChewiebitums

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suck it up. everyone has shit govs to deal with...not only do we have the highest surcharge on light and electricity in possibly the world, and a very high tax for cars but we`ve also had VAT for a long time, but now we are introducing whats called bed tax.. anyone wishing to come into the country to study english must pay whats called bed tax. Sort of like paying to enter a hotel. then you obviously have to pay for the room.

welcome to the VAT side of life :p.. you`ll find yourselves buying less luxurious products
 

Natzo

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VAT.. or IVA here sucks ass...

especially when it's a 21% VAT...

yeah.. Portugal sucks.
 

Ironslave

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suck it up. everyone has shit govs to deal with...not only do we have the highest surcharge on light and electricity in possibly the world, and a very high tax for cars but we`ve also had VAT for a long time, but now we are introducing whats called bed tax.. anyone wishing to come into the country to study english must pay whats called bed tax. Sort of like paying to enter a hotel. then you obviously have to pay for the room.

welcome to the VAT side of life :p.. you`ll find yourselves buying less luxurious products

Sounds wonderful :umwtf:
 

Tech

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Hey heres a crazy idea.......

Instead of imposing more useless taxes, why doesn't the government just cut spending?
 

mvsf1

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VAT.. or IVA here sucks ass...

especially when it's a 21% VAT...

yeah.. Portugal sucks.

Yeah, he in Spain we have IVA (VAT) currently at 16% since 25 years ago but, hey, wait a second, socialist government said IVA would be at 18% starting in July, 2010.

Fucking reds.
 

Natzo

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Yeah, he in Spain we have IVA (VAT) currently at 16% since 25 years ago but, hey, wait a second, socialist government said IVA would be at 18% starting in July, 2010.

Fucking reds.

Zapatero is friend of Socrates so.. when you wake up your IVA will be close to 20%..

cimeiras%2520socrates%2520zapatero.jpg
 

Natzo

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anyone knows what % is being talked to apply in the US?

I would start with a 4% lol...I predict a riot..:borat:
 

Ironslave

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I think the concept is just being tossed around... specifics not yet, at least not publicly.
 

Anabolicus

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Hey heres a crazy idea.......

Instead of imposing more useless taxes, why doesn't the government just cut spending?

Even if they did cut spending, would that be enough to eliminate the whole problem? Even if VAT is applied I doubt it's going to be higher than a few percentages. In Estonia it's 20% and we have survived.
 

Natzo

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Even if they did cut spending, would that be enough to eliminate the whole problem? Even if VAT is applied I doubt it's going to be higher than a few percentages. In Estonia it's 20% and we have survived.

we all survive with Vat.

is it good? no.

I'm with Tech. why not cut in the spending, we have to start somewhere. VAT doesn't solve debt problems it only brings more to the whole production and consumer hablity. vat in Portugal has been 15% ; 18 ; 19% now 21% and our debt is increasing in the same porportion. if instead they seriously cut the spending and take measures to increase production to make more jobs available, only by producing and controled spending can a contry grow.
 

mvsf1

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Here in Denmark it's 25%.

Correct me if I'm wrong, but in Nordic countries, like Denkmark, Sweden and Norway you have GREAT public services.

In Spain and Portugal we have a tax of 16%-21%, respectively, and public services are not THAT good. That's why I don't want spending my money in something that doesn't give be back what I expect from it.
 

Natzo

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Correct me if I'm wrong, but in Nordic countries, like Denkmark, Sweden and Norway you have GREAT public services.

In Spain and Portugal we have a tax of 16%-21%, respectively, and public services are not THAT good. That's why I don't want spending my money in something that doesn't give be back what I expect from it.

this.

plus in the North you have better life quality and earn more money.
I know you don't have a minimum wage but I assume it would be pretty high in comparison with south countrys.

minimum wage per month :

Portugal - 470 euro
Spain - 633 euro
greece - 680 euro
-------------------------------------------------------------------------
malta - 1080 euro (meh they practically are a town not a contry)
Luxembourg - 1500 euro
France - 1337 euro
Netherland - 1338 euro


I estimate it should be around 1400 euro for DK ; SW ; FIN


ps : just for curiosity Luxembourg minimum wage is almost $2000 usd every month guarantied for every legal worker. while portugal's is only $623 usd:umwtf:



START CUTTING THE SPENDING BASTARDS! NO MORE TAXES!
 

tim290280

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I was more under the impression that your country had massive incompetence and fraud problems. Greece similar thing. Kinda why your country's finances are in the shitter at the moment.
 
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