DEBT & National Finance | Obama Advisor Proposes National Sales Tax of 6.5%. Just say no. Maybe.


From Bloomberg:

“Alice Rivlin, a member of President Barack Obama’s deficit-reduction
commission, is trying to stir a debate over imposing a national sales
tax to reduce the deficit as part of a plan that includes steep
Medicare cuts and a one-year payroll-tax holiday to spark economic
growth.”

===========

Yes. Probably 5.5-6.5% is the amount of additional taxes that we need
to be paying to retire the excess of our choices in the past.

However — I want to hear details.

Do not add another tax on me without defining limitations, lifespan,
and monetary triggers.

What I would support:

—->> Eliminate the income tax totally and set the VAT or national
sales tax equal to actual expenses of the federal government.

—->> Adjust quarterly. There will be no way to hide the waste.
Taxpayers will quickly take note of the real expenses caused by their
choices.

—->> PAYGO should be the law of the land.

Read Story: http://www.bloomberg.com/news/2010-11-17/rivlin-proposes-6-5-national-sales-t…

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1 Comment

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One response to “DEBT & National Finance | Obama Advisor Proposes National Sales Tax of 6.5%. Just say no. Maybe.

  1. Makes sense. Since no one in DC has the balls to cut spending / entitlements, then somehow we need to raise the money to pay for them.

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