US lawmakers will have to make some tough choices in the coming years to bring U.S. deficits under control, including possibly introducing a national sales tax, White House economic adviser Paul Volcker said on Tuesday.
While highly unpopular, Volker said the US should consider a European-style national sales tax, also known as a value-added tax, and perhaps an energy or carbon tax.
The value-added tax "was not as toxic an idea" as it has been in the past, the former Federal Reserve chairman told the New York Historical Society. Adding it may be necessary to fund entitlement costs and decrease US deficits
"If at the end of the day we need to raise taxes, we should raise taxes," he said.
So, who is OK with a national sales tax to pay for the hundreds of billions that have been spent in the last year or so???
No I'm not OK with additional taxes period. I wish everyone who wants to could so those of us who don't could opt out. I also wish the Government would manage the money they take instead of squandering it and then thinking it's OK to ask for more and more. At some point you have to ask yourself why it's OK for them to demand more and more out of us and we accept less and less out them.
Answer by SylviaNCali at 6:15 PM on Apr. 7, 2010
Answer by Carpy at 6:17 PM on Apr. 7, 2010
Answer by Carpy at 6:18 PM on Apr. 7, 2010
Answer by yourspecialkid at 6:25 PM on Apr. 7, 2010
Answer by tnmomofive at 6:31 PM on Apr. 7, 2010
Answer by LoriKeet at 6:33 PM on Apr. 7, 2010
Answer by 29again at 6:56 PM on Apr. 7, 2010
Reminds me of this tried and true image! :o)
Answer by LoriKeet at 7:23 PM on Apr. 7, 2010
Right 29. Because Obama is second in line to GOD according to some on the left we must trust his words even when they don't add up or make much sense. We must believe that he is knows what is best for our country. The details of his plans matter not. What matters most is that we trust in him fully. Lets also remember that while Obama is in office his mistakes aren't actually his doing, it's Bush's fault. No other reason to explain why this country is continuing to run itself into the ground.
Answer by SylviaNCali at 7:25 PM on Apr. 7, 2010
Answer by SylviaNCali at 7:27 PM on Apr. 7, 2010
Next question overall
(Money & Work)
Do you hide/keep/seperate money from your spouse/partner? Why?