Volcker Calls for National VAT

[Booster4324]

Oh no. It was progressive. Each bracket of income was taxed at the appropriate rate. So, for the first $199,999 the rates in the brackets were lower. What's not apparent in those rates was the fact that so few people actually paid them. Every skievy tax dodge imaginable (remember Billy Sol Estes? - perhaps not, well look him up) was in vogue. Kennedy actually helped straighten out some of that mess by flattening the brackets, lowering the rates and eliminating many of the dodges (which got Mr. Estes and his pal Lyndon in hot water).

 

Gotcha, I figured that much. I was more interested (my fault for not being clear) in whether they used deductions and such to avoid the highest rate. Looks like they did. Interesting read on Billy Sol Estes. Liked this bit:

 

On 3rd June, 1961, Marshall was found dead on his farm by the side of his Chevy Fleetside pickup truck. His rifle lay beside him. He had been shot five times with his own rifle. Soon after County Sheriff Howard Stegall arrived, he decreed that Marshall had committed suicide. No pictures were taken of the crime scene, no blood samples were taken of the stains on the truck (the truck was washed and waxed the following day), no check for fingerprints were made on the rifle or pickup.

[IDBillzFan]

Good news everyone! Obama is open to the VAT! Hooray!

 

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.

 

Got news for ya, Barry. If you push a VAT on this country, the last word you're going to use to describe it will be "novel."

[erynthered]

Good news everyone! Obama is open to the VAT! Hooray!

 

 

 

Got news for ya, Barry. If you push a VAT on this country, the last word you're going to use to describe it will be "novel."

 

 

I'd like to know what country's he's talking about where its worked.

[Chef Jim]

I'd like to know what country's he's talking about where its worked.

 

I really hate panzy ass reporters that don't ask those types of follow-up questions. I can hear it now.

 

Obama: 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

Reporter: Which countries would those be Mr President

Obama: Ummm, you know...Carlton Fisk, Tom Seaver, Frank Thomas

Reporter: Sorry Mr. President you're a few weeks late.

[Alaska Darin]

Good news everyone! Obama is open to the VAT! Hooray!

 

 

 

Got news for ya, Barry. If you push a VAT on this country, the last word you're going to use to describe it will be "novel."

Yes, because the government needs more money. That's certainly the solution. There's no way if we give them even more money that they'll find a way to spend all that and need even more. To say nothing of the negative butterfly effect of increased taxation.

 

Good work lemmings. This is certainly "Change".

 

[taterhill]

Can someone tell me the "Value" I will be receiving.....

[Chef Jim]

Can someone tell me the "Value" I will be receiving.....

 

It's not adding value to you silly, it's adding value the the government.

[Gary M]

Good news everyone! Obama is open to the VAT! Hooray!

 

 

 

Got news for ya, Barry. If you push a VAT on this country, the last word you're going to use to describe it will be "novel."

 

Just remember to send the "thank you" note to the whitehouse after he passes it.

 

 

[DC Tom]

Can someone tell me the "Value" I will be receiving.....

 

You get to be charitable. Because the government is forcing you to be. [/Frenkle]

[Magox]

You get to be charitable. Because the government is forcing you to be. [/Frenkle]

Charities Taxes

 

Po-tay-toe Po-tah-toe