Wednesday, May 27, 2009

Spend-then-tax politicians

Federal income tax is too inefficient to raise the kind of money we need to pay our debts.

With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.

1 comment:

  1. http://www.whitehouse.gov/omb/blog/09/05/29/HealthCareReformandFiscalDiscipline/

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