I don’t mean to be political the last few days but the events I am starting to see bother me. I think this situation is starting to get out of control. The administration is considering a national sales tax in order to make up for their out of control spending.
Seriously, people, what the hell?
What would it cost? Emanuel argues in his book that a 10 percent VAT would pay for every American not entitled to Medicare or Medicaid to enroll in a health plan with no deductibles and minimal copayments. In his 2008 book, “100 Million Unnecessary Returns,” Yale law professor Michael J. Graetz estimates that a VAT of 10 to 14 percent would raise enough money to exempt families earning less than $100,000 — about 90 percent of households — from the income tax and would lower rates for everyone else.
And in a paper published last month in the Virginia Tax Review, Burman suggests that a 25 percent VAT could do it all: Pay for health-care reform, balance the federal budget and exempt millions of families from the income tax while slashing the top rate to 25 percent. A gallon of milk would jump from $3.69 to $4.61, and a $5,000 bathroom renovation would suddenly cost $6,250, but the nation’s debt would stabilize and everybody could see a doctor.
Let’s ignore the people who could “pay” for this – those making over 100K per year – this has the potential to impact EVERY person. Someone who could afford a gallon of milk and a loaf of bread now may have to pick between the two if something like this were to take place.
The government is lopsided, the balance is gone. We now have one party in power that is going to do whatever they want and another party who is afraid to keep them in check. Previously, at least the Democrats would keep the Republicans in check.
The decisions made in the next four years have the potential to create profound changes in how this country operates. At this point, I am very hesitant of what may come.
