Obama's National Sale Tax - New England Patriots Forums

***NEPatriot*** · 06-05-2009, 12:25 PM

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With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama's policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate.

A VAT is a tax on the transfer of goods and services that ultimately is borne by the consumer. Highly visible, it would increase the cost of just about everything, from a carton of eggs to a visit with a lawyer. It is also hugely regressive, falling heavily on the poor. But VAT advocates say those negatives could be offset by using the proceeds to pay for health care for every American -- a tangible benefit that would be highly valuable to low-income families.

The picture is very clear here. In order for us to have Obama universal health care, we will BE TAXED TWICE: health care tax and VAT tax.

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The federal budget deficit is projected to approach $1.3 trillion next year, the highest ever except for this year, when the deficit is forecast to exceed $1.8 trillion. The Treasury is borrowing 46 cents of every dollar it spends, largely from China and other foreign creditors, who are growing increasingly uneasy about the security of their investments. Unless Congress comes up with some serious cash, expanding the nation's health-care system will only add to the problem.

It is the reason we will pay a lot of taxes for the rest of our life because Obama couldn't stop his wasteful spending and CRAZY program. Apparently, Obama makes the problem worser every day. There is no hope for the future.

PatriotsReign · 06-05-2009, 12:31 PM

All he has to do is piss off enough voting Americans and he'll never get voted in again. Everything he does can be undone...time will tell.

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Originally Posted by NEPatriot

washingtonpost.com

The picture is very clear here. In order for us to have Obama universal health care, we will BE TAXED TWICE: health care tax and VAT tax.

It is the reason we will pay a lot of taxes for the rest of our life because Obama couldn't stop his wasteful spending and CRAZY program. Apparently, Obama makes the problem worser every day. There is no hope for the future.

***NEPatriot*** · 06-05-2009, 12:36 PM

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Originally Posted by PatriotsReign

All he has to do is piss off enough voting Americans and he'll never get voted in again. Everything he does can be undone...time will tell.

It's too late because a lot of damages are going to be done in 4 years. When you want to change, think TWICE about it.

***patsfan13*** · 06-05-2009, 12:41 PM

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Originally Posted by PatriotsReign

All he has to do is piss off enough voting Americans and he'll never get voted in again. Everything he does can be undone...time will tell.

Sadly new entitlement programs are never undone, neither will nationalized health care or the taxes levied to support the monster.

***NEPatriot*** · 06-05-2009, 12:48 PM

This is the price that you have to pay for believing in Obama's BS.

***Patters*** · 06-05-2009, 01:31 PM

I doubt if national health care will be free, but it remains to be seen how it will be paid for. Personally, I'd favor a more progressive income tax, rather than instituting a regressive national sales tax.

***patsfan13*** · 06-05-2009, 01:35 PM

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Originally Posted by Patters

I doubt if national health care will be free, but it remains to be seen how it will be paid for. Personally, I'd favor a more progressive income tax, rather than instituting a regressive national sales tax.

Well the top rate will be 40% when he allows the Bush tax cut to expire. In a state like NJ (dem gov & legislature) the income tax will be ~11%. Of course this doesn't include sales tax & property tax.

How much more progressive should taxes become in your view? 60, 70, 805 HOW MUCH IS ENOUGH IN YOUR VIEW?

***BelichickFan*** · 06-05-2009, 01:54 PM

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Originally Posted by Patters

I doubt if national health care will be free, but it remains to be seen how it will be paid for. Personally, I'd favor a more progressive income tax, rather than instituting a regressive national sales tax.

The top 25% already pay 86% of the income tax. The bottom 50% pay less than 3%. How much more "progressive" can we get ?

The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

***Patters*** · 06-05-2009, 01:57 PM

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Originally Posted by patsfan13

Well the top rate will be 40% when he allows the Bush tax cut to expire. In a state like NJ (dem gov & legislature) the income tax will be ~11%. Of course this doesn't include sales tax & property tax.

How much more progressive should taxes become in your view? 60, 70, 805 HOW MUCH IS ENOUGH IN YOUR VIEW?

Under Eisenhower the rate went up to 90%. I don't think it should go that high, but certainly having higher rates than 40% for income over $1 million/year is okay with me. It's not a matter of how much, it's a matter of achieving the balance between the various needs of running a society and having a manageable budget.

A true fair tax where everyone pays the same dollar amount is not feasible, so taxes are no matter how you cut it unfair. But, we need to look at the whole picture. For instance, the more you earn, the more money you have to invest, which history shows overall increases one's wealth. We don't need to worry about the wealthy; they invest in the long term, which generally yields returns that more than make up for the extra they pay in taxes.

Real World · 06-05-2009, 02:05 PM

I hope the gubmit goes bankrupt. When that happens, which will probably be in my lifetime at the current rate, I'll be sitting on my front steps, with a weapon in one hand, a beer in the other, and a giant smile on my face.