Here comes the VAT tax........ - PowerStrokeNation : Ford Powerstroke Diesel Forum
 
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post #1 of 9 (permalink) Old 04-07-2010, 07:41 PM Thread Starter
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Here comes the VAT tax........

Volcker: Taxes likely to rise eventually to tame deficit

NEW YORK (Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday........

http://www.reuters.com/article/idUSTRE6355N520100406


>>>WHAT IS A VAT TAX<<<


I want you to imagine adding another ~19% in taxes(most of which will be hidden from the consumer) in supply chain commerce transactions......read >>> price increases.

Think of all the component parts in that new truck you buy being taxed.....and taxed.....and taxed again.

As the parts pass from sub-sub-contractor to sub-contractor to contractor to Ford they have taxes added. Ford will intern pass this additional cost plus another VAT tax on to you as the customer. This of course will be on top of the local and or state taxes you are already paying on the vehicle and the check you send to the IRS every year.

Think of this compounded cost being added to everything you buy in every day life.

Now ask why your government has to continue to demand more and more and more money from its citizens to pay the bills instead of cutting spending.

I am sorry folks........if we don't get a handle on this the idea of moving to a small island in the Carribian is looking more and more attractive.


Tbar

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post #2 of 9 (permalink) Old 04-07-2010, 07:42 PM
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Re: Here comes the VAT tax........

Quote:
Originally Posted by Tbar View Post

I am sorry folks........if we don't get a handle on this the idea of moving to a small island in the Carribian is looking more and more attractive.


Tbar
Considering Grand Cayman myself. lol





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post #3 of 9 (permalink) Old 04-07-2010, 08:27 PM
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Re: Here comes the VAT tax........

Tbar, you did a much better job than Ducati did when he posted this.

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post #4 of 9 (permalink) Old 04-07-2010, 09:14 PM Thread Starter
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Re: Here comes the VAT tax........

Obama: "No family earning less than $250,000.00 a year will see any form of tax increase."


Hummmmmm.........


Tbar

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post #5 of 9 (permalink) Old 04-07-2010, 09:17 PM
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Re: Here comes the VAT tax........

Quote:
Originally Posted by Tbar View Post
Obama: "No family earning less than $250,000.00 a year will see any form of tax increase."

Obama: "No family earning less than $250,000.00 a year will see any form of tax increase."

Hummmmmm.........


Tbar
So then we can count on his veto if a VAT bill were to pass. Right?

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post #6 of 9 (permalink) Old 04-07-2010, 09:28 PM
Yeah, it's like that
 
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Re: Here comes the VAT tax........

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Originally Posted by Pocket View Post
Tbar, you did a much better job than Ducati did when he posted this.
Just curious here, Who's siginature will be required to sign this into law?

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
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post #7 of 9 (permalink) Old 04-07-2010, 11:07 PM Thread Starter
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Re: Here comes the VAT tax........

Quote:
Originally Posted by Tbar View Post
Obama: "No family earning less than $250,000.00 a year will see any form of tax increase."


Hummmmmm.........


Tbar
And another one..........

A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011


Tbar

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post #8 of 9 (permalink) Old 04-07-2010, 11:18 PM
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Re: Here comes the VAT tax........

Obama is nothing more than a liar and will tax us to death. oh and then blam it in on W.

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post #9 of 9 (permalink) Old 04-07-2010, 11:36 PM
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Re: Here comes the VAT tax........

Quote:
3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.
A new tax?

Quote:
6. A limit on the amount that employees can contribute to health care flexible spending accounts to $2,500 a year. Under the House package of changes, the cap won't take effect until 2013.
This will be an increase in tax for us. We have a child that is on maintainence drugs that equates to $275 a month. Our taxes will go up with this provision as we use the spending accounts to save a little on taxes.

Quote:
9. A hike in the 7.5% floor on itemized deductions for medical expenses to 10%, beginning in 2013. But taxpayers age 65 and over are exempt from the cutback through 2016.
Yet again, this will increase my tax liability as we run between 8.5% & 9% each year in medical costs. Over the last 5 years we have only hit the 10% mark once.

And for the record I make less than half of the $200k they set as the bench mark for no new taxes.

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