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More taxes on the horizon?

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???


Asked by 29again at 6:06 PM on Apr. 7, 2010 in Politics & Current Events

Level 27 (31,176 Credits)
This question is closed.
Answers (12)
  • 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

  • I say let the Obama voters pay for it. They elected this entitlement king with his posse in congress.

    Answer by Carpy at 6:17 PM on Apr. 7, 2010

  • What Sylvia said.

    Answer by Carpy at 6:18 PM on Apr. 7, 2010

  • Well said Sylvia. I am not okay with more taxes either. They need to tighten their belts like the rest of us do.

    Answer by yourspecialkid at 6:25 PM on Apr. 7, 2010

  • Yep what Sylvia said.We all know the higher taxes are coming and it won't be all simple when those making out great get taxed higher it always trickles down.All of this entitlment stuff isn't free and there was no way in heck Obama was going to implement all of this crap without having to raise taxes and without it effecting the middle and lower classes and hitting us all in our pocket books.Ridiculous is what it is we didn't have the funds to begin with for this crap.

    Answer by tnmomofive at 6:31 PM on Apr. 7, 2010

  • Wait...I thought Obama said everything I wanted in life would be free?! LOL


    Answer by LoriKeet at 6:33 PM on Apr. 7, 2010

  • Well, Lori, he might have said it, but you didn't hear what he really meant by that. See, there are essentially 3 factors in this situation, and just wait, he'll explain all 3 to you. But first, just let him say that he really appreciates your ongoing support in this terribly drawn-out fight with the nut-jobs who want to stifle freedom in the US. It is people like you who keep him going, who keep him fighting those big evil corps every day, so that the little people who never had a chance can finally have a chance. The main thing to remember is that everyone is equal under that thing those old guys wrote a long time ago, you know, that paper they keep under lock & key. ohhh, darn, what is it called? It has a special name......oh, well, anyway, it is past time to make sure that everyone really IS equal, it is past time to start making some people pull their share of the weight, and under HIS watch, those evil corps will!

    Answer by 29again at 6:56 PM on Apr. 7, 2010

  • LMAO....29!!!

    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

  • LORI LMBO OMG that is good!

    Answer by SylviaNCali at 7:27 PM on Apr. 7, 2010