President Obama has said the government is broke, however he still has many costly programs yet to be created. So how does he get the money to do that, and from whom?
Us, again.
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.
Common around the world, including in Europe, such a tax — called a value-added tax, or VAT — has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.
So, in other words, Obama has spent so much and wants to spend so much more, that the only way to save the government from its own lack of fiscal discipline is to tax everything 10 to 14 percent over and above what we pay for goods now.
Bob Parks is a is a member/writer of the National Advisory Council of Project 21, Senior Writer for the New Media Journal, VP of Marketing and Media Relations for the New Media Alliance. Bob’s websites are Black & Right and youtube.com/BlackAndRight
Bob can be reached at: .(JavaScript must be enabled to view this email address)
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Views are those of authors and not necessarily those of Canada Free Press. Content is Copyright 2012 the individual authors.
Pursuant to Title 17 U.S.C. 107, other copyrighted work is provided for educational purposes, research, critical comment, or debate without profit or payment. If you wish to use copyrighted material from this site for your own purposes beyond the 'fair use' exception, you must obtain permission from the copyright owner.
Views are those of authors and not necessarily those of Canada Free Press. Content is Copyright 2012 the individual authors.
