Wednesday, April 07, 2010

Free Speech for the Dumb: Paul Volcker

So now that Obamacare has passed, we get to see just what the ramifications are going to be. We already knew we would be paying for something that won't even start for 4 more years, but a national sales tax, or the better sounding value added tax? According to one of Obama's advisors, Paul Volcker, we should have one (from Reuters);

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

That last line just pisses me off. Here we are struggling and instead of cutting back, we just want to spend more. I know that when I am running out of cash, I cut back, I don't spend more to get out of debt.

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