That’s a shame, although maybe it’s better than monetizing the debt. Who thinks it will go through? Link: http://news.yahoo.com/s/ap/20100421/ap_on_bi_ge/us_obama_tax_5
It won’t go through. My reasoning has nothing to do with the mixture of Fascists Democrats and Republicans in the Congress. I think that it is just not worth the effort to pass this awful economy destroying VAT only to have the next Congress repeal it.
It is much easier to repeal a tax than an entitlement. Congress and the rest of Washington are in a fantasy land where all these horrible programs will not have any unintended negative consequences or cost any more money. The fact that they do is not material.
Ramming through this giant VAT tax will simply force the next congress to run on repealing it.
Pretty soon I will have to move to France for the comparatively low taxes haha.
Let them pass it. The more the government does to hasten popular usage of a shadow economy, the better.
well duh.
Didn’t the Brookings Institute release a study that showed that marginal tax rates would have to go up to something like 80 percent for the next decade to keep up with projected federal outlays?
Quick question, does anyone know if Russian citizens were vioent at the time of economic collapse in the Soviet Union? Because I have to say all the stupidity going on in the classrooms and in the Op-Ed sections of newspapers is dazzling. I just can’t believe what’s going on right now. I just hope everything remains peaceful.