Presidential Advsior, Paul Volker Trumpets Value Added Tax & Carbon Tax
By Todd Kinsey - April 6, 2010
Reuters reports that presidential advisor, Paul Volcker, speaking to the New York Historical Society, "The United States should consider raising taxes to
help bring deficits under control and may need to consider a European-style value-added tax." He also stated that a carbon tax may be needed as well.
Most of Europe has a Value Added Tax (VAT) that averages around 25%. So on top of all the other taxes we pay, we would have the privilege of paying
an additional 25% when we make a purchase, think $5.00 for a Coke or $6.00 for a gallon of gas.
For those of you who still don't think this administration is marching our country straight into a socialist state, you better wake up. Let's look at all the
different taxes we already pay:
Every fee you pay and every permit you have to buy is just another form of taxation. Eventually we'll see the majority of our incomes going to taxes and
very little into supporting our families and achieving the American Dream. Recently a business associate who owns companies around the world told
me, "I never thought I'd see the day where it was cheaper to do business in Europe than it is in America."
Even my son, who is still in high school, actually owed taxes this year on a $3,000.00 income and this is after we actually itemized his deductions. I feel
sorry for our kids because by the time Obama leaves office, it may be too late to reverse this trend.
For years America was the shining example of freedom. Anyone could come here and if they worked hard enough, could achieve the American Dream.
You never heard of anyone braving hundreds of miles of desert to break into Mexico or swim across shark infested waters to enter Cuba. No, America
was the land of opportunity. The place where a kid who grew up with no running water and an outhouse could achieve the dream.
Now we're well on our way to becoming a nanny state where there will be little incentive to achieve anything. It is imperative that we stay active and
engaged in the coming months. The next two elections could possibly be the most important in our nation's history. Talk to your friends and co-workers
and make sure they know the significance of what's happing to our country.
God Bless,
Todd
todd@toddkinsey.com
By Todd Kinsey - April 6, 2010
Reuters reports that presidential advisor, Paul Volcker, speaking to the New York Historical Society, "The United States should consider raising taxes to
help bring deficits under control and may need to consider a European-style value-added tax." He also stated that a carbon tax may be needed as well.
Most of Europe has a Value Added Tax (VAT) that averages around 25%. So on top of all the other taxes we pay, we would have the privilege of paying
an additional 25% when we make a purchase, think $5.00 for a Coke or $6.00 for a gallon of gas.
For those of you who still don't think this administration is marching our country straight into a socialist state, you better wake up. Let's look at all the
different taxes we already pay:
- Federal Income
- Social Security
- Medicare
- State Income Tax (most states have)
- Property Tax
- School Tax
- County Tax
- City Tax
- Sales Tax
- Alcohol (actually has multiple taxes added)
- Gasoline (3 more taxes in that number too)
- Drivers License
- Vehicle Registration
- Pet Registration
- Yada, Yada, Yada
Every fee you pay and every permit you have to buy is just another form of taxation. Eventually we'll see the majority of our incomes going to taxes and
very little into supporting our families and achieving the American Dream. Recently a business associate who owns companies around the world told
me, "I never thought I'd see the day where it was cheaper to do business in Europe than it is in America."
Even my son, who is still in high school, actually owed taxes this year on a $3,000.00 income and this is after we actually itemized his deductions. I feel
sorry for our kids because by the time Obama leaves office, it may be too late to reverse this trend.
For years America was the shining example of freedom. Anyone could come here and if they worked hard enough, could achieve the American Dream.
You never heard of anyone braving hundreds of miles of desert to break into Mexico or swim across shark infested waters to enter Cuba. No, America
was the land of opportunity. The place where a kid who grew up with no running water and an outhouse could achieve the dream.
Now we're well on our way to becoming a nanny state where there will be little incentive to achieve anything. It is imperative that we stay active and
engaged in the coming months. The next two elections could possibly be the most important in our nation's history. Talk to your friends and co-workers
and make sure they know the significance of what's happing to our country.
God Bless,
Todd
todd@toddkinsey.com
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