Paul Volcker has lost his f'ing mind
Not as toxic as it has been in the past? He can't be serious. Can he? The architect of Reaganomics is trying to tell the American people that the VAT is less toxic today than it was in the past?
Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary. Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.
What? Where could he possibly have gotten the idea that the biggest tax increase in history is "less toxic" than it was in the past. This is one of the dumbest things I've heard yet this year.
The stupidity of that statement notwithstanding, the VAT is coming folks, make no mistake about it. There is simply no other way to pay for this monstrosity. I don't know if Obama can raise income taxes high enough to cover the $2.5 trillion price tag. He has to find the money elsewhere. The VAT will do nicely.
For information on the VAT go here and here.
And if you didn't see it last year, watch the Center for Freedom and Prosperity and CATO's video on the VAT:
European socialism. It's a reality, it's a disaster and it's here.
All you have to do is be one notch above comatose to recognize that this gigantic tax increase is more toxic today than it ever would have been in this Country's history. The reason is that we've never been as close to complete financial collapse as we are right now.
Like I said, Volcker has lost his f'ing mind. Time to put Paul out to pasture.
