Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look
"There is a growing awareness of the need for fundamental tax reform," Sen. Kent Conrad (D-N.D.) said in an interview. "I think a VAT and a high-end income tax have got to be on the table."
Almost every state in the union has a sales tax. The states’ ability to pay for the basic services most people associate with government would be severely limited by a federal VAT tax. Moreover, a VAT tax would not address the fundamental problem of the US budget, The Math. 20% of the people control 84% of the wealth. There just isn’t enough money among the remaining 80% to pay these debts. You cannot raise ever more taxes on a continually dwindling source of money. It didn’t work for Louis XVI, and it won’t work for Obama. You have to increase taxes on the top 1%. They have the money the rest of us don’t.
And you don’t have to raise taxes to pay for healthcare. Not one dime, not even a penny. A single payer system will save our country $350 billion a year.
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Blood, turnip,
look into it.
But then, Kent Conrad has been a jerk since he first ran for office.
Elliot Lake
VAT Tax
equals more nonsense to avoid biting the bullet and raising income tax rates on the wealthy. A VAT tax dumps the burden on those without real representation in Congess; that's almost all of us. The shameless cowards that try to pass themselves off as "leaders" need to get their fannies kicked. If I were in Congress I wouldn't have the nerve to offer such transparently destructive legislation. Konrad should be ashamed of himself for recomending that most of us have a rising tax bill while the people not paying their fair share get off with nary a scratch.
There are changes that the Bush administration put into the tax code that amount to a massive cut in taxes to the very wealthy. Two important items: One, the ridiculous reduction of the Capital Gains tax to 15% a lower rate than the second lowest marginal rate. It was bad enough when it was lowered to 20% during the Clinton administration, the Bush cut was way beyond the pale. The rate should be no lower than 25%. Two, dividend income was removed from the normal income stream, made seperate and taxed at a flat 15%. This one is so bad it's an insult to the intelligence. This makes the idle rich even richer.
Along with SEVERAL new rates on incomes over $250,000 (it was always ridiculous to set the top rate starting at the surplus over $375,000) Capital gains must be raised and dividend income should go back into the regular income stream.
Oh great. The FKD Party, pushing fauxgressive taxation.
Good grief, what's going to be next for the Money Wing?
Damn, the Democratic wing of the Democratic Party better start fighting this stuff.