► Show Top 10 Hot Links

Posts Tagged ‘VAT’

UK to raise VAT to 20%

by Phantom Ace ( 33 Comments › )
Filed under Economy, Progressives, Tranzis, UK at June 23rd, 2010 - 9:00 am

UK PM David Cameron is called a role model for US Conservatives. His Progressive-Conservatism has been hailed as an electoral blue print by Progressive Republicans David Frum and David Brooks. What these Leftists disguised as Conservatives don’t tell you is that Cameron’s Tories failed to get a majority in the UK Parliament. They have entered a coalition with the Far Left Liberal Democrats. Well now their golden boy and his Progressive-Conservatism is doing what all Leftists do- raise taxes!

June 22 (Bloomberg) — British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades.

“The years of debt and spending make this unavoidable,” Osborne told Parliament in London in his emergency budget today as he announced a package of spending cuts and tax increases to cut the U.K.’s record deficit.

The rate will increase from January and will produce more than 13 billion pounds ($19 billion) a year of extra revenue by the end of this Parliament in 2015, Osborne said. “That is 13 billion pounds we don’t have to find from extra spending cuts or income-tax rises,” he said.

Read the Rest: Osborne Increases U.K. Value-Added Tax Rate to 20% From 17.5%

David Cameron is a Leftist and this what a charlatan like David Frum supports. We already tried Progressive-Conservatism here in America, it was called Compassionate Conservatism. Like all Leftist Ideologies it failed miserably and American Conservatives want the real deal.

News Update: Progressives of all stripes love taxes. House Majority Leader Steny Hoyer wants to increase taxes on the Middle Class. I’m sure PM David Cameron and David Frum approve of this since it’s all for Progress!

Tags: , , ,
Posted in Economy, Progressives, Tranzis, UK | 33 Comments »

Obama to support Progressive Deficit Panel Recommendations

by Phantom Ace ( 155 Comments › )
Filed under Barack Obama, Communism, Economy, Liberal Fascism, Politics, Progressives, Tranzis at April 28th, 2010 - 1:00 pm

The situation in Greece and other European countries should be a warning to America. Greece got itself into the fiscal mess it’s in now due to heavy taxes and taxation which in turn lead to a flight of capital. The result was a collapse in revenue and the nation was unable to meet it’s obligations. America, unfortunately, is heading down the same path as Greece and the once great Argentina.  Our debt and deficit levels are becoming unsustainable. This is making America very uncompetitive in the Global Economy. The situation was created by Bi-Partisan reckless Progressive policies such as Bush’s Compassionate Conservatism and Obama’s Neo-Socialism.

Barack Hussein Obama has created a supposedly Bi-Partisan commission to address our deficit and debt crisis. The problem is that this panel is composed of Progressive Republicans and Progressive Democrats. Instead of recommending a new tax structure to reflect the realities of the Global Economy they will call for massive tax hikes.  They are not interested in real reform and just want to give cover to new taxes such as a VAT.

WASHINGTON – The co-chairman of President Barack Obama’s deficit reduction commission said Tuesday that Obama would endorse its findings, including politically toxic tax increases and painful cuts to retirement benefits that the president was unwilling to propose on his own.

But even as Obama urged the 18-member bipartisan panel to keep open all of its options to fight “exploding deficits,” forces on the right and left were urging just the opposite.

In opening-day testimony before the commission, panel members were amply warned that failure to reduce the deficit could lead to higher interest rates, harm the economy and ultimately erode Americans’ standard of living.

“The path forward contains many difficult trade-offs and choices, but postponing those choices and failing to put the nation’s finances on a sustainable long-run trajectory would ultimately do great damage to our economy,” Federal Reserve Chairman Bernanke said.

Read the rest: Deficit panel leader says Obama will OK findings

(more…)

Tags: , , ,
Posted in Barack Obama, Communism, Economy, Liberal Fascism, Politics, Progressives, Tranzis | 155 Comments »

Obama open to VAT

by Phantom Ace ( 97 Comments › )
Filed under Barack Obama, Economy, Liberal Fascism, Progressives at April 22nd, 2010 - 8:00 am

Economic adviser to Obama  Paul Volcker recently said a VAT makes sense for America. At first the Totalitarian Progressive regime of Barack Hussein Obama denied it was being planned. Well like all Leftist 3rd World Ideologues, he lied. In a recent interview the former Mr. Barry Soetoro claims he is open to one! His cover will be our exploding debt situation and the fig leaf of a so called bipartisan fiscal advisory commission.

(Picture Hat Tip: libertymaniacs.com)

When asked if he could see a potential VAT in this nation, the president said: “I know that there’s been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It’s something that would be novel for the United States.”

“And before, you know, I start saying ‘this makes sense or that makes sense,’ I want to get a better picture of what our options are,” Obama said.

He said his first priority “is to figure out how can we reduce wasteful spending so that, you know, we have a baseline of the core services that we need and the government should provide. And then we decide how do we pay for that.”

Read it all: Obama suggests value-added tax may be an option

There is nothing Bipartisan about this commission. It’s full of Progressive Democrats and Progressive (Compassionate Conservative) Republicans. Barack Hussein Obama will use this recommendations as a cover to create a VAT.

Tags: ,
Posted in Barack Obama, Economy, Liberal Fascism, Progressives | 97 Comments »

National Sales Tax is coming

by Phantom Ace ( 24 Comments › )
Filed under Barack Obama, Economy at May 27th, 2009 - 1:10 pm

More taxes are on the way. The new idea floating around is a Value Added Tax (VAT) to pay for health care.

Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look

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.

At a White House conference earlier this year on the government’s budget problems, a roomful of tax experts pleaded with Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama’s policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate.

“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.”

This is a regressive tax and would hurt Middle and Working Class families. This combined with Cap and Trade would continue the deterioration of America’s standard of living. Outsourced jobs, Stagnant wages combined with a VAT plus with Cap and Trade on top would be a nightmare for the average American. It is sad to see a nation commit economic suicide. Globalization and Marxism have both failed, why continue down one or both of these paths.

Tags: , , ,
Posted in Barack Obama, Economy | 24 Comments »