IPFS News Link • TAXES: Federal
Pelosi: VAT Is On the Table
• Economic Policy Journal Pelosi, appeared Monday on PBS's "The Charlie Rose Show" and said 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.
Overhaul is, of course, code for tax increases.
"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.
Overhaul is, of course, code for tax increases.
Watch Streaming Broadcast Live:
LRN.fm
DLive
Live Chat
Telegram
Telegram
1 Comments in Response to Pelosi: VAT Is On the Table
Sorry folks, a Value Added Tax (VAT) is a Direct Tax and Direct Taxes are forbidden by the federal Constitution. No wonder things are so screwed up; the Speaker of the House hasn’t yet read the Constitution upon which she depends for the existence of her job. Of course, this could just be an underhanded ploy to give them an excuse to modify the Constitution and taxes would just be one of the restrictions they’d like to eliminate. (See Article I, Section 9, Clause 4.)
By the way speaking of elimination, as an aside, since the federal Constitution is the document creating the United States (federal government); it would seem that suspending it would wipe out the very existence of the federal government. Perhaps the plug to the umbilical cord the framers left with us to prevent the federal government from attempting to become a central government/power by removing its restrictions through suspension. Something to think about.