Tuesday, July 27, 2010

VAT Here We Come - Obama Commission Will Call for Trillions in Tax Hikes

The Congress is not satisfied with controlling 1/6th or 1/2 of the economy, they want it all. Spending cuts should be quick and deep and taxes should also be cut. Then the economy will rebound and the increased revenues, with the decreased spending and elimination of some entitlements, will create the surplus needed to reduce the debt. The liberals treat the economy as a zero sum game, which it is not. A robust economy will bring us out of the doldrums. I know it sounds radical, but higher taxes have never created an economic upturn.

"It's been clear from the beginning that the purpose of this Commission was to put GOP fingerprints on a tax hike, likely a VAT... Gregg seems to be giving them all ten fingers... The true agenda of this commission has always been to hide the ball on a tax hike until after the November elections - hence the December reporting date. Gregg's gaffe today tips their hand,"

Higher taxes are never the answer. With the economy so weak, Congress should be making the Bush tax cuts permanent. Taxes on capital formation and investment should be eliminated all together. America should be encouraging small business, individual investors and entrepreneurs to be taking risks to increase economic growth in the private sector. Instead, Obama and the socialists in Congress are embarked on a dangerous expedition to punish success. This will end badly.
Read full Townhall article here.

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