Tags: Barack Obama | barack | obama | vat | value | added | tax

Obama Calculates VAT Tax

Monday, 19 Apr 2010 07:56 AM

By Grover Norquist

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
From the ATR website.

President Barack Obama’s economic team is already calculating government revenues from a possible value added tax (VAT), according toThe New York Times on April 18.

Article excerpt:

But since any Social Security plan would probably preserve benefits for those nearing retirement, it would not help the administration achieve its goal of reducing the deficit to 3 percent of gross domestic product, from 10 percent, within a decade.
 
One way to reach that 3 percent goal, by the calculations of Mr. Obama’s economic team: a 5 percent value-added tax, which would generate enough revenue to simultaneously permit the reduction in corporate tax rates Republicans favor.
 
The reported VAT calculations may explain President Obama’s recent attempts to alter the terms of his central campaign promise — a promise that no family making less than $250,000 per year would see “any form of tax increase.”

Twice in the past 10 days, Obama has claimed his pledge applied only to income taxes. In his April 10 Weekly Radio Address, Obama said: “And one thing we have not done is raise income taxes on families making less than $250,000. That’s another promise we’ve kept.”

In a speech on the evening of April 15, Obama repeated the truncated promise: “And one thing we haven’t done is raise income taxes on families making less than $250,000 a year — another promise that we kept.”

In the interest of transparency, Americans for Tax Reform respectfully asks President Obama to immediately release the reported VAT calculations or deny such calculations exist.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Vermont State Senator Wants Jonathan Gruber's Pay Revoked

Monday, 24 Nov 2014 17:18 PM

Embattled Obamacare architect Jonathan Gruber already has lost his job as an adviser to Vermont's state healthcare syste . . .

Sens Nelson, Rockefeller Call for Airbag Data from Takata

Monday, 24 Nov 2014 17:07 PM

Two senior US senators called on embattled Japanese auto parts maker Takata on Monday to furnish them with 14 years of e . . .

Budweiser Scraps Clydesdales, Turns to Jay-Z for Holiday Ads

Monday, 24 Nov 2014 15:39 PM

In the face of declining sales, Budweiser is considering different strategies to increase consumption among younger drin . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved