Pelosi says new tax is 'on the table'

[ktlight]

FYI:

A new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.

The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the healthcare for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a healthcare component cost.

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that's one part of it," the Speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate consuming most lawmakers' time, and that it may come as part of a larger overhaul to the tax code.

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

source
http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table

[Lord Sidious]

Hey! I know!
Let's make the thralls pay nations debt.

[Calz]

... as if we didn't see *that* one coming ...

[Calz]

You know I would actually have more respect for them if they would quit d*cking around with trying to fool us with carbon tax and all the other crap.

Why not just say "The King demands 50%" and have done with it???

Of course ... "The King" has his monarchy veiled now behind corporations ... but the peasants don't need to burden themselves with such details.

[ceetee9]

FYI:

A new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.

The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.

"They get a tax off of that and they use that money to pay the healthcare for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a healthcare component cost.

"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that's one part of it," the Speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."

Pelosi said that any new taxes would come after the Congress finishes the healthcare debate consuming most lawmakers' time, and that it may come as part of a larger overhaul to the tax code.

The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans.

source
http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table
I didn't see the show, but just based on what was stated above I'd like to know how Ms Pelosi's immense economic and business acumen figures that adding a VAT to manufactured goods (at every step in the production process no less) will "level the playing field between U.S. and foreign manufacturers, the later of which do not have pension and healthcare costs included in the price of their goods." Apparently she's either unaware that we manufacture goods in this country as well or hopes we are unaware of that fact. That is, unless, of course, all U.S. manufactured goods will be exempted from the VAT regardless of where the goods were manufactured. Yeah, I can see that happening. Can't you?

And let's not even consider that those VATs "might" be passed on to consumers to absorb. No doubt those extra costs for goods would help bolster the already high-rolling U.S. economy, make it easier for U.S. citizens to make ends meet, and stimulate job growth to boot. Wow! What an economic genius that woman is.

Yes indeed, Ms. Pelosi never met a tax she didn't like.