Comments on: VAT Attack! Obama and middle-class tax hikes

By: Acetracy

Acetracy — Mon, 15 Feb 2010 16:51:36 +0000

VAT is the worst idea that has come out of the conservative think tanks like Cato Inst. and others. It is regressive, will impoverish the middle class of America even more and will be a nightmare to administer.

However, the US must increase its tax revenues. How? Pass an intangibles tax (tax on net worth) on all individuals, corporations, trusts, PICs, etc. with a net worth over $10 million. Just 1% intangibles tax on the super wealthy would more than balance the budget and not disturb one bit the life styles of over 99% of Americans.

Already states like NH and Fla have an intangibles tax instead of an income tax. The Federal Government should do the same thing.

By: krishnamurthi ramachandran

krishnamurthi ramachandran — Mon, 15 Feb 2010 16:17:15 +0000

I can not understand Americans thinking,opinion on Mr.Obama!s tax proposals, bail out measures for banks and to other financial institution for further falling or ending their business career and so on.
For any troubled economical scenes and low cash flow to government funds, jobless situations in organised sectors, health reform, for day today expenditure to government servants, and lastly running the government, they need finance and by constant manner by some taxations to high income and high wealth groups,collecting some big amounts by taxes to rich,some concessions to workers,army personnels and to get things in order of the day of any government.
What Mr,Obama does for American economy to be back from downtrend and for America only.
We can question and criticize governments policies by now and then, we have to provide new solid proof system for new measures to tackle sudden, unexpected huge deficit in planning and its execution stages.
I wish that, many leading world,American economists will give some quick as well as protective economic mechanism to Mr.Obama!s cabinet heads.

By: Tom T

Tom T — Mon, 15 Feb 2010 09:55:21 +0000

Come on Voomie — it’s not that bad. When times get tough
the tough get going. Look at the history of Europe around the 1850s — the people wanted more & the governments coundn’t afford it, the answer was colonialism! The trick is to grab places with iron ore, bauxite, and oil rather than tsetse flies and poor coffee.
Its good to be king!

By: Tired Old Man

Tired Old Man — Sun, 14 Feb 2010 22:50:49 +0000

This will be the final nail in the coffin for the US!

By: Voomie

Voomie — Sat, 13 Feb 2010 21:43:28 +0000

Taxes are going way up in this country, even for the beloved middle class. You know 9 of the top 30 job sectors ten years ago are shrinking to the point of extinction due to foreign competition and technology advances? The US economy is in tailspin. I work for http://storyburn.com and the angry chaos around America is getting worse each day. Companies are using this recession to do far more with less people. State governments like California and New Jersey are reeling in red. Whether your in Abu Dhabi, Germany or in New York City, get ready for a huge wealth transfer to other regions and classes

By: Unrepresented guy

Unrepresented guy — Sat, 13 Feb 2010 18:28:00 +0000

Of course the middle class will face higher taxes, we have no lobbyists!

By: Liberty Lover

Liberty Lover — Fri, 12 Feb 2010 00:01:19 +0000

Stop diverting your energy with taxes. The problem is spending. Restoring growth and cutting taxes with “incentives” avoids the problem. Cutting taxes and avoiding spending is one of 2 problems with conservatives and Republicans. The other is their view that military spending can never be cut. They fail to see their philosophy supports big government. Conservatives defend military spending by saying it creates jobs and is constitutional. So that balances out with liberals who insist government central planning is better than the free market and that spending ensures justice. The result is the mess we have. No thanks.