What took so long Pelosi?

[eunhye]

Pelosi says new tax is 'on the table' - The Hill's Blog Briefing Room

A new value-added tax (VAT) is "on the table" to help the U.S. address its 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 VAT has any appeal to her.

The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the healthcare for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a healthcare component cost.

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that's one part of it," the Speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate consuming most lawmakers' time, and that it may come as part of a larger overhaul to the tax code.

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

Truly. Awesome.

[Headspace]

oh you

[Olo401]

in b4 flat earth... err flat tax advocates

[Mizango]

in b4 Lief and lolEgon.

ftfy

[Takedown3]

in before guartz

[ZarakiKujata]

in before dirty liberals trash talking and over reacting to conservative trolls.

[Beckwin]

with a VAT we could eliminate pennies and maybe nickels too. MOAR EFFICIENCY

[SwampdonkeyPLD]

in before dirty liberals trash talking and over reacting to conservative trolls.

Nothing to even debate here. Obama said he's not raising taxes on the middle class, thus this will be vetoed right?

[ZarakiKujata]

Nothing to even debate here. Obama said he's not raising taxes on the middle class, thus this will be vetoed right?

Are you new here? there will be a 20 page debate.


And it will be retarded.

[dejet]

1) This is good they are doing it right

2)This sucks, wtf they thinking.

no need for 20 pages, it will happen tho^^

[Olo401]

Obama said he's not raising taxes on the middle class, thus this will be vetoed right?

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

Too. Easy.

[Melchiah]

George H. W. Bush said and I quote: "No new taxes." as part of his campaign for the presidency back in '88.

Bear in mind, this was Reagan's right hand man.

Taxes will always get levied on the middle class first, and lifted from the middle class last.

[Olo401]

All kidding and ribbing aside, the tax code does need to be overhauled in a major way. Especially to ditch the Alternative Minimum Tax.

[eunhye]

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

Lol. So I own a business and say I import oranges from Venezuela to Florida. As a business say it's a modest 5% increase, what do I do with that 5%? Pass it on to the consumer? Or suck it up.

[dejet]

Lol. So I own a business and say I import oranges from Venezuela to Florida. As a business say it's a modest 5% increase, what do I do with that 5%? Pass it on to the consumer? Or suck it up.

Your not middle class as a owner of a business trust me LOL.
(well if you are doing well anyways^^)

edit: and if you did just suck it up baby!

[Olo401]

Bad example.. that wouldn't happen since California & Florida have their own damn oranges, among other reasons.

However I could see it happening with sugar cane & related products (refined sugar, molasses, rum, etc.)

[Solefald]

Lol. So I own a business and say I import oranges from Venezuela to Florida. As a business say it's a modest 5% increase, what do I do with that 5%? Pass it on to the consumer? Or suck it up.

Do you.... do you know how a VAT works?

[Xno Kappa]

Lol. So I own a business and say I import oranges from Venezuela to Florida. As a business say it's a modest 5% increase, what do I do with that 5%? Pass it on to the consumer? Or suck it up.

Careful, your "not knowing what the fuck your talking about" is showing.

[eunhye]

I'm saying a lot of businesses will double dip. Not only will they "pay" that VAT to the government, but consumers will "pay" as well.

[SwampdonkeyPLD]

Too. Easy.

Jesus Christ. This is what you just did.

Lib: Bush lied.
Bush: No I didn't.
RWinger: Haha, you're wrong sucker!

And unless the bill stipulates, "all products that people with less than X income buy will not be affected by a VAT," it will affect the middle class. I'm pretty sure it's universally accepted that business's don't pay taxes.