Obama suggests value-added tax may be an option

gokenin · 04-25-2010, 05:42 PM

ready for a radical idea coming your way,

If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security.

GeneV · 04-25-2010, 05:54 PM

Originally posted by gokenin

ready for a radical idea coming your way,

If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security.

Another point of agreement.

graphicgr8s · 04-27-2010, 08:17 AM

Originally posted by gokenin

ready for a radical idea coming your way,

If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security.

Hell if we made it a 50% tax it could get paid off even sooner.

So 5% national tax plus 7% (in my area anyway, NY is what? 10%) So that's 12% on every purchase. You really think that won't tank sales more than they already are?

GeneV · 04-27-2010, 08:29 AM

Originally posted by graphicgr8s

Hell if we made it a 50% tax it could get paid off even sooner.

So 5% national tax plus 7% (in my area anyway, NY is what? 10%) So that's 12% on every purchase. You really think that won't tank sales more than they already are?

Here is the paradox of the economic approach since Reagan. Cut taxes, but don't cut spending. Strangle the beast. All these concepts have resulted in a great big free ride. Instead of convincing the people that government was evil, as Reagan spoke, this economic philosophy ushered in the society that thinks it can have it all and never pay for it, like an endless credit card where only the minimum payment is ever made.

Paying for it is not a bad thing for many reasons.

graphicgr8s · 04-27-2010, 08:43 AM

Originally posted by GeneV

Here is the paradox of the economic approach since Reagan. Cut taxes, but don't cut spending. Strangle the beast. All these concepts have resulted in a great big free ride. Instead of convincing the people that government was evil, as Reagan spoke, this economic philosophy ushered in the society that thinks it can have it all and never pay for it, like an endless credit card where only the minimum payment is ever made.

Paying for it is not a bad thing for many reasons.

Gene, some government debt is actually beneficial to the economy. Small debt keeps consumer confidence up and people spending money. So long as they think that the debt level is at some point repayable. What we now have however is debt that is not repayable in most people's minds and therefore drives down the confidence level. Controlled debt is ok. This fiasco obviously isn't and it seems at though a madman is at the controls with no brakes to stop.

GeneV · 04-27-2010, 08:46 AM

Originally posted by graphicgr8s

Gene, some government debt is actually beneficial to the economy. Small debt keeps consumer confidence up and people spending money. So long as they think that the debt level is at some point repayable. What we now have however is debt that is not repayable in most people's minds and therefore drives down the confidence level. Controlled debt is ok. This fiasco obviously isn't and it seems at though a madman is at the controls with no brakes to stop.

I agree with everything you posted there. The problem I am talking about is that debt has gone so far that it has isolated benefit from any burden.

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04-25-2010, 05:42 PM	#61
gokenin Veteran Member Join Date: Oct 2007 Location: lowell,ma Posts: 1,899	ready for a radical idea coming your way, If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security.

04-25-2010, 05:54 PM	#62
GeneV Veteran Member Join Date: Oct 2008 Location: Albuquerque NM Photos: Albums Posts: 9,830	Originally posted by gokenin ready for a radical idea coming your way, If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security. Another point of agreement.

04-27-2010, 08:17 AM	#63
graphicgr8s Guest	Originally posted by gokenin ready for a radical idea coming your way, If the government put a 5% National sales tax in addition to the current level of income tax then it may be able to pay off the national debt faster and be used to supplement the national healthcare bill and social security. Hell if we made it a 50% tax it could get paid off even sooner. So 5% national tax plus 7% (in my area anyway, NY is what? 10%) So that's 12% on every purchase. You really think that won't tank sales more than they already are?

04-27-2010, 08:29 AM	#64
GeneV Veteran Member Join Date: Oct 2008 Location: Albuquerque NM Photos: Albums Posts: 9,830	Originally posted by graphicgr8s Hell if we made it a 50% tax it could get paid off even sooner. So 5% national tax plus 7% (in my area anyway, NY is what? 10%) So that's 12% on every purchase. You really think that won't tank sales more than they already are? Here is the paradox of the economic approach since Reagan. Cut taxes, but don't cut spending. Strangle the beast. All these concepts have resulted in a great big free ride. Instead of convincing the people that government was evil, as Reagan spoke, this economic philosophy ushered in the society that thinks it can have it all and never pay for it, like an endless credit card where only the minimum payment is ever made. Paying for it is not a bad thing for many reasons.

04-27-2010, 08:43 AM	#65
graphicgr8s Guest	Originally posted by GeneV Here is the paradox of the economic approach since Reagan. Cut taxes, but don't cut spending. Strangle the beast. All these concepts have resulted in a great big free ride. Instead of convincing the people that government was evil, as Reagan spoke, this economic philosophy ushered in the society that thinks it can have it all and never pay for it, like an endless credit card where only the minimum payment is ever made. Paying for it is not a bad thing for many reasons. Gene, some government debt is actually beneficial to the economy. Small debt keeps consumer confidence up and people spending money. So long as they think that the debt level is at some point repayable. What we now have however is debt that is not repayable in most people's minds and therefore drives down the confidence level. Controlled debt is ok. This fiasco obviously isn't and it seems at though a madman is at the controls with no brakes to stop.

04-27-2010, 08:46 AM	#66
GeneV Veteran Member Join Date: Oct 2008 Location: Albuquerque NM Photos: Albums Posts: 9,830	Originally posted by graphicgr8s Gene, some government debt is actually beneficial to the economy. Small debt keeps consumer confidence up and people spending money. So long as they think that the debt level is at some point repayable. What we now have however is debt that is not repayable in most people's minds and therefore drives down the confidence level. Controlled debt is ok. This fiasco obviously isn't and it seems at though a madman is at the controls with no brakes to stop. I agree with everything you posted there. The problem I am talking about is that debt has gone so far that it has isolated benefit from any burden.