Gee, that didn’t take long.
The Weekly Standard: Today, Congressional Budget Office Director Douglas Elmendorf confirmed he’s been getting “a lot of questions” about the VAT tax from Congress.”Many people in Congress are interested in it,” he said of the VAT, a national sales tax that adds between 10 and 20 percent to purchases in European countries where it’s been implemented. “We’ve had conversations with a number of members and their staffs.”
Elmendorf declined to specify which members and said he has yet to field an official request to study a VAT tax. The CBO is in the process of figuring out how best to study a VAT tax’s impact, sorting through various structures employed by other countries. Elmendorf also declined to estimate what a VAT tax level would need to be to cover the 2020 debt, which the CBO predicted will be 90 percent of GDP.
As momentum for a VAT picks up, expect to hear the Democrats explain how easy, simple and painless it will be. Don’t believe them.
He also warned that politicians and economists should not envision an “idealized” VAT tax as a clean, simple system.
“If we were to adopt a VAT tax in this country, it would be subject to many of the same (tax) preferences the income tax is subject to.” he said. “The VAT tax itself could become very complicated.”
I can hear them now, calling it a flat tax and saying “See, we adopt conservative ideas all the time.”
Via memeorandum
Because we all know and THEY all know that they flat LIED to the American people. This health care will COST trillions, NOT reduce the deficits.
Progressives are LIARS. Period.
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