“Value added tax” on The Daily Caller

Two immovable facts face Democrats on President Obama’s fiscal commission: They don’t see any way to alleviate the country’s debt without raising taxes, and they know most voters hate the thought of any tax increase. (more)

White House press secretary Robert Gibbs was asked about the value-added tax again Friday morning, and gave a slightly more nuanced answer that rules out the possibility that they are planning to implement, but technically left wiggle room for doing so in the future.  (more)

President Barack Obama does not support implementing a value-added tax (VAT) in the United States, Treasury Secretary Tim Geithner said Thursday. (more)

The author of ‘How Obama’s Green Policies Will Steal Your Freedom and Bankrupt America’ explains Obama’s other source of tax billions (more)

Sen. George Voinovich, Ohio Republican, told me Wednesday that his vote against a resolution condemning a value-added tax last week was not a sign he is necessarily in favor of such a policy. (more)

“Should five percent appear too small, be thankful I don’t take it all.” George Harrison wrote the Beatles song “Taxman” after watching an astounding 95 percent of the band’s earnings go to pay British taxes. A tax rate that high might sound absurd, but a recent study by the Tax Policy Center found that the two top rates would have to climb to 86 and 91 percent in order to close the budget gap by only raising taxes on the wealthy. (more)

The Senate went on record Thursday as overwhelmingly opposed to a value-added tax – something much talked about by Democrats and those close to President Obama of late – approving by 85-to-13 a resolution declaring the penalty a “massive tax increase that will cripple families on fixed income.” (more)

Tea party express protesters gathered in Freedom Square in Washington DC today, to protest against what they see as too much government spending, increasing taxes and unsustainable national debt. (more)

Happy tax day, readers! If you haven’t read today’s fantastic Wall Street Journal editorial on Europe’s experience with the VAT tax, do so now. Here’s the gist: The value-added tax “is essentially a national sales tax that is assessed at each stage of production, with the bill passed along to consumers at the cash register.” It’s considered a politically safe tax to impose, as taxpayers can opt out of the tax by simply not buying things. So, you want a new TV but you don’t want to pay a 20% VAT on top of, say, a 6.5%-10% sales tax? Then keep your old TV forever! (more)

A brief window of sensible tax policy has opened for 2010, though if Congress doesn’t take action to permanently eliminate the Death Tax—now at zero percent—the rate will return to a whopping fifty-five percent next year. Any proposal by Republicans or Democrats other than a zero percent taxation is unacceptable. (more)

Editor’s Note: Daily Caller High is a group of young writers cutting their teeth in the world of political punditry. This week, the authors’ reflect on events of the past few days. (more)

After running up more than $3 trillion in debt in just two years, the federal government is looking for new ways to raise money. Promised future entitlement spending in the tens of trillions of dollars has put the government’s AAA bond rating in jeopardy, so borrowing all that money could be an expensive proposition. That means a tax hike is coming. (more)

The biggest danger to your wealth isn’t a bubble in China or Europe—it’s the IRS. Since 1987, top earners have been taxed between 28 percent and 39.6 percent, a relatively low range compared to the 50 percent-and-above rates for most of the century. However, with enormous annual deficits and Social Security lurking around the corner like a mugger, the future promises a return to old tax norms. (more)

The White House distanced itself from comments made last week by one of its top economic advisers in support of a new national consumption tax — yet others close to President Obama have similarly spoken in favor of a Value-Added Tax in recent months. (more)

American antipathy to taxes is rooted deeply in our nation’s history. So it’s no surprise that lawmakers seek to avoid raising taxes, or at least, seek to raise revenue in ways that avoid the “tax-hiker” label. Instead they call things “fees.” It’s more than just semantics: many states have extra procedural rules for taxes but not for fees, such as requiring multiple votes or public approval. (more)

With the announcement of six Republicans (Reps. Paul Ryan, Dave Camp, and Jeb Hensarling and Sens. Judd Gregg, Tom Coburn, and Mike Crapo), the lineup for President Obama’s National Commission on Fiscal Responsibility and Reform is set. While the commission will more likely feature show over substance, it also might be an opportunity to move forward on much-needed tax reform. (more)

A rise in VAT is looming whichever party wins the general election, as Labour and the Conservatives draw up plans to balance Britain’s books. (more)

Once Rep. Allyson Schwartz of Pennsylvania came up with the brilliantly greedy idea of taxing even unearned income, I had half a mind to conjure Jonathan Swift’s “A Modest Proposal.” The famous wit suggested eating young people as a means of easing economic stress, and I felt perhaps it was time to apply his deficit reduction technique to modern times by devouring Democrats like Schwartz. (more)