VAT Tax

[n david]

I've read some news from yahoo and other places that Volker is pushing a VAT tax and BHO and some in his admin are inquiring as to whether it would work.

I'll say honestly I don't know what the VAT tax is, other than it's mostly a European thing. What I've read from comments is bad.

Anyone know more about the VAT tax, what it involves, what the impact is on businesses and consumers. I'd especially like to hear from anyone who lives or has lived in a country that had a VAT tax.

Thanks.

[n david]

Two links on the VAT Tax

Yahoo

AP

[n david]

George Will article
Interesting article. Will would accept a VAT tax, but only if personal income taxes were done away with.

[Praxeas]

This will either hurt the poorest of us all and or hurt our economy when we buy less because stuff costs more..then Im not sure if we have even seen the extent of inflation due to all the money they've printed

[commonsense]

VAT= bad idea
AS Prax stated it will hurt.....not help.

[ChTatum]

Research the Fair Tax.

[Twisp]

Originally Posted by ChTatum

Research the Fair Tax.

That was the one thing I liked about Huckabee. He was a fairly adamant supporter of it.

[Praxeas]

President Obama said Tuesday that "everything has to be on the table" as his newly appointed debt commission goes to work, but he would not entertain questions about whether tax increases, included a value-added tax, or spending cuts will get serious consideration.



"We're not playing that game," the president said.



Among the proposals that have generated attention recently is the idea of a value-added tax, a form of a national sales tax. Though Obama has indicated an openness to considering the tax, he said Tuesday that he would not indulge in any speculation. http://www.foxnews.com/politics/2010...started-table/


Again, a sales tax will only hurt the poor. Obama, the champion of the Poor, is considering it. What do the liberals have to say? Republicans would not tax the poor like this would then?