Aren’t they always with a Democratic Congress and White House? The new tax Pelosi is talking about in this case is the value added tax (VAT), which levies a tax on manufacturers at each step of the manufacturing process. Yes, really. In the middle of a recession.
How long before Obama insists this isn’t a tax and rejects the Merriam Webster dictionary’s definition of one?
A new value added tax (VAT) is “on the table” to help the U.S. address is fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.
Pelosi, appearing on PBS’s “The Charlie Rose Show” asserted 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 value-added tax has any appeal to her.
Pelosi claims it would level the playing field between American and foreign manufacturers because the latter don’t have costly pensions and benefits to pay for (apparently). But there’s no indication that domestic companies would be exempt, so their costs would also go up and they’d still be paying more than their foreign competitors. Meanwhile, the price of goods will skyrocket at a time when Americans are already struggling to get by.
San Fran Nan is just looking to collect more tax revenue for her liberal pet project, so she’ll consider any new tax that accomplishes that goal. As Ronald Reagan would say, Democrats are seeking the sharing of scarcity. They’re going to “level the playing field” by making sure that everyone is miserable, paying more taxes, and paying more for goods and services. Fantastic.
Apparently 10% unemployment isn’t high enough for Botox Nancy.
Via HAH.
by Stephan Tawney on Tue, Oct 6, 2009