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Value-Added Tax

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Obama Economic Adviser Says U.S. Should Consider 'Value-Added Tax'

Acknowledging it would be a highly unpopular move, White House economic adviser Paul Volcker said Tuesday the United States should consider imposing a "value-added tax" similar to those charged in Europe to help get the deficit under control.A value-added tax is a national sales tax that, like state and city sales taxes, would be collected by retailers.Volcker, a former Federal Reserve chairman, told a New York panel on the global financial crisis that such a tax is "not as toxic an idea as it has been in the past.""If, at the end of the day, we need to raise taxes, we should raise taxes," he said.He also said that Congress might also have to consider new taxes on carbon and energy.A White House official asked for comment, said, "The president has passed historic tax cuts for middle-class families and continues to push for more tax cuts. The president is not proposing to cut the deficit at the expense of middle-class families."The value-added tax suggestion was immediately met with out...

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  1. Obama Expresses Openness to New Value-Added Tax

    WASHINGTON -- President Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his a...

  2. White House Dismisses Speculation Over National Sales Tax

    The White House pushed back Monday on a report that administration officials had examined the impact of a national sales tax as a way to help close the federal budge...

  3. Top White House Advisor Suggests Imposing VAT Tax

    FBN's Gerri Willis breaks down value-added taxes.

  4. Rep. Bachman on The VAT Tax , Tea Parties

    Rep. Michele Bachmann, ((-MN), on the growing support of the tea party movement.

  5. VAT Man Cometh?

    Senior White House economic adviser: Feds should consider 'Value Added Tax'

  6. VAT Tax Cometh?

    Will a value-added tax cover Obamacare?

  7. Potential VAT ’s Impact on Retail, Economy

    FBN's Rich Edson on how a potential value-added tax might affect the economy and jobs.

  8. 'VAT' is Where It’s At?

    Neil sounds off on whether a national sales tax is an option.

  9. Would VAT Break Obama Pledge?

    White House downplays president's comments on possible new tax

  10. Be Afraid, Be Very Afraid of the Obama Administration's Scary Trial Balloon

    By Phil Kerpen Policy Director, Americans for ProsperityIn today's Washington Post , the White House floats a really scary trial balloon--a new national Value-Added ...

  11. The VAT Is Obama's License to Spend

    White House adviser and former Federal Reserve Chairman Paul Volcker floated the idea of introducing a Value Added Tax (VAT) as part of an overhaul of the U.S. tax s...

  12. Use VAT Tax to Pay Off Deficit?

    Center For American Progress's Michael Linden argues we could use a VAT tax to pay for debt.

  1. VAT Tax ’s Impact on What You Buy

    The Lanier Law Firm Lead Counsel Mark Lanier and the Varney & Co panel on increased costs of products if a value-added tax is imposed.

  2. Value Added Tax

    Debate over VAT being used to cover costs of health care reform

  3. Value-Added Tax Fails Senate Vote

    Former U.K. Parliament member on U.S. fears of higher taxes

  4. Debt Commission Gets Started With 'Everything' on the Table, Including National Sales Tax

    President Obama said Tuesday that "everything has to be on the table" as his newly appointed debt commission goes to work, but he would not entertain questions about...

  5. National Sales Tax to Fix Health Care?

    Urban-Brookings Tax Policy Center Director Len Burman on whether a national sales tax would raise enough money to fix the health care system.

  6. National Sales Tax Chatter Draws Fierce Opposition

    As lawmakers toy with the idea of an across-the-board sales tax on just about everything, tax reform advocates are starting to drum up opposition with the same fervo...

  7. Is a VAT the Cure for Government Debt?

    FranTarkenton.com Chairman Fran Tarkenton and FBN's Rich Edson on a potential value-added tax .

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