Obama Insiders Buzz over Possible Value-Added Tax - Printable Version
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Obama Insiders Buzz over Possible Value-Added Tax - FastTadpole - 04-14-2010 02:47 AM
Income tax is going to be harder and harder to collect so we will have tolls, service fees and taxes applied direct to industry and goods & services. A VAT is a vehicle to accomplish this. They may abolish the income tax altogether to present us a fake win. This would be easily implemented if all money was digital by way of credit cards, direct bank payment, online transactions et al.
There is talk about the chip being the ultimate control mechanism. We may not even have to be chipped, everyone with a cell phone essentially is chipped all it needs is a point of sale device and we have can potentially have everything tied to it.
The government will support those who prop them up by way of subsidy and other forms of cronyism so compliance would be mandatory once all of our needs are provided and by corporations that enforce the VAT for them.
The VAT could be applied multiple times before the end user finally receives the product or service. This is not just a retail tax.
Canada has has this in place for years now currently at 5% this is about what it costs to administer, enforce and collect it. More useless bureaucracy that, at the end of the day, accomplishes nothing.
Solution: united strong local and regional governments, business entities and consumers that don't comply with these ridiculous taxes or deal in a different recognized form of trade (local currency, barter, IOUs ..). We need our own system and need to stop feeding theirs with our labour, dollars and attention sooner rather than later.
Quote:Obama insiders buzz over possible Value-Added Taxhttp://digg.com/politics/Obama_insiders_buzz_over_possible_Value_Added_Tax
RE: Obama Insiders Buzz over Possible Value-Added Tax - h3rm35 - 04-14-2010 03:06 AM
As long as it applied to all wall st. transactions, I'd be OK with this - It would foster barter between those who didn't support the government, re-collect some of the insane amounts of money lost to financial gambles and redistribute it to social programs. Those who spent less would be taxed less, and that just seems fair. The electronic currency situation would be a pretty fucked up scenario, but once again, would foster the concept of barter to those who wouldn't wish to participate. If people started trading goods instead of tickets for the ride of illusory fulfillment, then we'd actually have something of value to trade instead of the imaginary value (that's manipulated by fraud in the commodity and precious metal markets,) of our little paper reminders of oligarchical control that we keep in our wallets and are forced to see every day. I'm all for it - kill the income/payroll tax, and pile on VAT.
I wouldn't be surprised at all to see it, but I wouldn't expect it until a second term, and only if congressional ratios remained approximately the same.
RE: Obama Insiders Buzz over Possible Value-Added Tax - FastTadpole - 04-14-2010 03:54 AM
Having an income tax and a VAT is simply overkill. If income tax were replaced by a VAT it would take a progressive tax, at least in theory (lots of tax breaks and shelters for those individuals and businesses with a few extra $), and transform it into a flat percentage on everything it was applied to - hitting everyone, rich and poor, at the same percentage. So fair is a bit simplistic - my inkling is that more would be milked from the average Joe. Is there anywhere that does this now or has abolished income tax with a sales tax?
Personally, at this point, I'm against a national tax altogether since it is being spent irresponsibly and we're borrowing from a private banks to cover the shortfalls and extras. I'd really like to see it allocated to local / regional governments where the money is spent rather than centralized collection, the feds taking their slice, then provinces/states begging for it back. In Canada this tax does not apply to food (except junk food) and some other exceptions but not nearly enough of them - exceptions on basic needs should be in place to prevent it from crippling those in poverty even more than they already are.
A tax like this is much more than it appears to be since the same item can be taxed at every transaction (manufacturer > wholesaler > retailer > consumer) and each phase of the manufacturing process. This can turn a 5% tax into something much larger - the rate needs to be carefully considered.
We're being taxed at every turn as it is. In the US and worldwide there are all kinds of hidden 'taxes' notably the massive one that is paid on gasoline (not only the government one but the hidden middle man payments to the IMF), which essentially taxes everything that moves.
RE: Obama Insiders Buzz over Possible Value-Added Tax - h3rm35 - 04-14-2010 05:12 AM
I was speaking in a completely simplistic sense - of course there's room for abuse - I'm sure there are think-tanks that have been in place for years specifically to brainstorm ways to do it. They probably hire Emanuel staffers, and helped get Obama elected.