A new value-added tax is "on the table" to help the U.S. address its fiscal liabilities, according to House Speaker Nancy Pelosi.
Pelosi, appeared Monday on PBS's "The Charlie Rose Show" and said that "it's fair to look at" the VAT as part of an "overhaul" of the nation's tax code.
"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.
Overhaul is, of course, code for tax increases.
In the history of this country there has never been a more out-of-touch Congress.
ReplyDeleteThey pass 1000-page, $787Billion, 'stimulus' bills that none had read, over the objections of the people who were 10:1 against it.
They pass 1000-page Cap-and-Tax bills that none has read, that's estimated to cost (us) another $Trillion.
That they even *consider* passing a $1Trillion+ "Health-care" bill is A-B-O-M-I-N-A-T-I-O-N.
Of course, it's all money-generation (printing) without any wealth behind it. Welcome to Weimar-US.
Perhaps the only way for a sane free-market social order to emerge is that this present system completely collapses. Given the present trajectory that's the likely outcome. Maybe it's a good thing, for our descendants, that the sooner it happens the better.
I'm usually not so pessimistic, but of late I can see no other outcome.