Do We Need A VAT Tax to help bring down the National Debt?

[Parche]

Not on food, on other things :hi: :shrug:

[Bluebear]

1. We need to put the Pentagon on a diet to bring down the debt. nt

[Obamanaut]

8. We could start this by closing the more than 700 military sites in the

nearly 40 other countries they are in - and bring home all those troops/families.

Lower the total military force through normal attrition as enlistments expire, combined with less vigorous recruiting efforts.

[av8rdave]

2. In a vacuum, it's a good idea. BUT

It would never be used to reduce the debt.

Even if it were, it (the tax) would never go away once the debt was erased.

[msongs]

3. it would if we had leadership with the integrity to do it nt

[av8rdave]

6. You just identified the main problem with this idea

:hi:

[DJ13]

4. Sales taxes are regressive

We need to stop letting the wealthy fly all these trial balloons in an effort to avoid increased income taxes on their class.

[Radical Activist]

5. Increase the capital gains tax on any stock that doesn't pay dividends.

Tax the people who caused the current mess. Encourage investing in companies that earn steady profits, rather than investing in short-term speculation.

[Ruby the Liberal]

15. Growth stocks aren't all about speculation

They don't pay a dividend - but in cases can have a MUCH more long term approach than those who manage by the quarter (and the quarterly dividend payments).

Currently, dividends are taxed at the LT Cap Gain rate of 15%, yet bond interest is taxed as ordinary income. Maybe look at something there?

[Obamanaut]

7. No tax on VATs! But seriesly, some places already have sales tax

on foods. IIRC, Georgia has a lower sales tax percentage than Florida on general merchandise, but Georgia has a sales tax on foods while Florida does not. (Not counting junk food/fast foods, just real food from the grocery store)

ETA for explanation of "No tax on VATs"

Inasmuch as VAT is 'value added tax', the subject line sorta reads "...value added tax tax..." Much like saying ATM machine, or PIN number.

[Oregone]

9. How about appropriately taxing capital gains to start

See where that takes you first

[bigwillq]

10. NO (nt)

[Fumesucker]

11. I don't see an option for "Are you out of your freakin' mind"..

So I voted no..

A VAT is wildly regressive, the lowest income workers will pay a much bigger percentage of their take home pay than will the higher income people.

Why don't we try going back to Eisenhower or even Nixon taxation levels on high incomes before we hit the poor folks with a VAT?

Oh, and I agree with some of the previous posters, cutting military expenditures substantially would be a good move.

[izquierdista]

12. I'm all for it

Let's start a tax on Very Affluent Turdbuckets -- the Walton family for starters. How much has Dubya's tax cut put in their account instead of paying down the debt?

[Curmudgeoness]

13. Regressive regressive regressive!

If you make $15,000 a year, you will pay tax with every penny you earn. If you make $15,000,000, yes, you will pay more because you spend more, but you will not spend all of the money you make. You will have a huge investment portfolio. You won't pay a VAT on the money you invest. You will be making out on this deal while the poor will struggle more than ever. Higher tax brackets, higher capital gain taxes, cut spending on military (how many bombs do you really need) and pet projects.

[WinkyDink]

14. We need a reduction in the War Dept budget, and a TAX ON EXTREME WEALTH.

[SocialistLez]

19. Pretty much. NT

[Davis_X_Machina]

16. Coupled with a carbon tax...

...and with sliding-scale rebates from both based on income, exempting food and clothing, could accomplish something. You'd wind up with a generalized de-facto sumptuary tax. It'd be a Pigovian disincentive to live like the world was without limits....

Absent the rebate system, no.

[Laelth]

17. We don't need any more regressive taxes. n/t

:dem:

-Laelth

[lib2DaBone]

18. Like we need a case of Malaria... and Hepatitus-C... and TB....

Tax cuts for the Rich and Perpetual War is what caused the deficits.....

[gleaner]

20. No. It is a recessive tax like sales tax ...

We need a meaningful change in the tax code which makes very wealthy individuals and corporations pay their fair share. And several applications of the windfall profits tax. Oh, and lest we forget, negative tax consequences for moving jobs and operations off shore.

[Kalun D]

21. Raise Taxes On The Rich

Just like Clinton did to balance the budget.

It was one of Obama's campaign promises, and it's the first promise he broke. It shows who's side he's really on.

We have some of the highest tax rates in the world. But the actual effective tax rate is much lower. End the offshore shell corporations and the loopholes.

[justabob]

22. We need corps to pay their share

and we need people working good jobs that pay them enough to be taxed.... along with the above noted defense budget.

[SocialistLez]

23. Might want to start here OP: www.ctj.org NT

[DailyGrind51]

24. Just repeal Bush and Reagan tax cuts, damn it!

[TheFarseer]

25. NO VAT TAX!

We are already increasing income taxes next year. If we reduce spending by paring back the military and reducing government spending in other areas, we can balance the budget.

I question the whole concept of a VAT tax anyway. My understanding is that it is imposed on every step of the manufacturing process. Wouldn't that drive the remaining jobs overseas? Yeah, that's exactly what we need!!!!!!!!

[tammywammy]

26. Absolutely not. n/t