Thursday, October 8, 2009

Nancy's Planning Big Things For You - The VAT

As feared, Nancy Pelosi is threatening to impose a Value-Added Tax (VAT) in America.



A VAT is a tax on the estimated market value added to a product or material at each stage of its manufacture or distribution, ultimately passed on to the consumer.

For more information on the value-added tax, read my post from May 2009:  The Conservative Lady: Value Added Tax (VAT)

The article below gives some background on Ms. Pelosi's VAT. The Dems are getting desperate to raise money for their social programs, so any way they can tax us is on the table. The VAT is a "stealth tax". It's in the price of products and services, not tacked on afterwards as a normal tax, so you don't see it.  Very sneaky, Ms. Pelosi.

Europe has a VAT tax.  Our friends from Germany come to the U.S. on holiday and spend half of their time buying things to take back with them.  It's much cheaper here.  With the VAT in the USA, they can spend more time at the pool because prices won't be any cheaper here than in Germany.

This article gives background on Ms. Pelosi's grand idea:

Wall St. Journal article:Nancy Pelosi's VAT
The Speaker floats a middle-class tax hike.

Candor about taxes is rare in Washington, so when House Speaker Nancy Pelosi admits that Democrats may have to impose a huge new tax on the middle class to fund their spending ambitions, believe her.

10 comments:

  1. This will encourage me to save my money and not use it to help the economy out.

    ReplyDelete
  2. I'd like to plan a vat for her, a vat of boiling oil.

    ReplyDelete
  3. Remember the old Smothers Brothers skit, "I fell into a VAT of Chocolate?" What did you do? i yelled FIRE!
    Why did you yell FIRE! Because no one would come if I yelled CHOCOLATE. I am not sure what this has to do with the VAT tax, but you reminded me of it.

    Also, VAT is a misnomer. It should be the VST, Value Subtracted Tax. I could accept a VAT if they did away with the income tax, but I do not think that is happening. :(

    ReplyDelete
  4. BB:
    Hope you're feeling better each day.
    One thing is for sure, if the prices keep going up, everyone will be thinking twice before they buy anything. The economy will keep getting worse.

    ReplyDelete
  5. Dr. Dave:
    My original title for the post had something to do with throwing Nancy in a vat, but I thought I'd better not get too violent. The internet police might come after me.

    ReplyDelete
  6. Desman:
    I do remember the Smothers Brothers. As a matter of fact, I saw them in person at Lake Tahoe. Funny guys.
    As far as the administration doing away with any taxes...that will never happen, as you well know. The promise to not raise taxes on the middle class was a line of BS to get votes.

    ReplyDelete
  7. The Democrats are speaking out of both sides of their mouth with regard to taxes. They oppose a higher income tax (or any taxes at all) for low income individuals because they say it isn't fair. Yet Pelosi is hinting at a VAT which is a consumption tax. Since lower income families spend the highest portion of their income for necessities it is the most regressive tax of all.

    While living in Europe I shopped a lot. I could buy everything at up to a 30% discount off what Europeans paid because the European governments rebated the VAT to me. If we reciprocate similarly, then we should go to Europe and shop while the Europeans come here. Let's cheat all the governments out of the VAT.

    ReplyDelete
  8. Yeah, heard about this, its crazy, and it'll do more to lose the Dems elections (and ourselves our position of dominance in the world) than anything Obama can do. What a dumb dumb (give her gum gum).

    ReplyDelete
  9. Emptynester:
    A lot of the people who voted for Obama and believed his promise about taxes, may not even realize what a VAT is. The tax is hidden, the people are naive, the Dems blame Bush.

    ReplyDelete
  10. Candle:
    Pelosi is a dangerous person. She has too much power and Obama's ear. She needs to be voted out and the sad thing is, we have to depend on California to do the nasty deed. We can only hope that the Dems lose the majority in the House in 2010 and she loses the Speaker job. Start praying!

    ReplyDelete

Respectful comments are always welcomed and appreciated. Trolls will not be tolerated.