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  • Value-Added Tax

    VAT Finds Favor with Debt Commission Co-Chairman Bowles

    “I think there are many good arguments that you can make for a value added tax or a consumption tax, as opposed to a tax on wages” said National Commission on Fiscal Reform Co-Chairman Erskine Bowles on April 25 during a joint appearance with Co-Chair Alan Simpson on Fox News. … More

    Obama Calls for a VAT

    President Obama has consistently ducked the question on whether he is considering a massive tax hike in the form of a value added tax (VAT) – until now. Yesterday in an interview with CNBC, the president made clear that he is open to a VAT – once he has seen … More

    Tax Hikes Wrong Route to Take for Deficit Reduction Commission

    Earlier this year, after Congress passed an increase in the debt ceiling, was deliberating over a trillion plus health care package, and the President’s Budget promised new record deficits, the American people started to see a worrisome trend that pushed fiscal responsibility to the forefront of the public’s priorities.  President … More

    The Obama Budget Plan: Taxes and Rationing

    Suddenly, the Obama administration and Democratic congressional leaders seem to want health-care news stories to fall off of the front page. This week, House Energy and Commerce Chairman Henry Waxman abruptly cancelled a high-profile hearing he had called just days earlier to berate corporate CEOs who dared to tell their … More

    Europe’s Record Shows VAT is No Solution to Debt

    The United States is on an unsustainable financial course, and everyone seems to know it.  As Heritage highlighted in our recently published 2010 Budget Chart Book, if nothing is done, federal obligations will reach heights that even enormous tax increases will be unable to reverse.  In 2010, the federal budget … More

    Volcker’s Volley: The VAT Battle Begins

    President Obama’s push to enact a massive tax increase in the form of a new value-added tax (VAT) is now clearly underway. Earlier this week, Obama economic adviser and former Chairman of the Federal Reserve, Paul Volcker said a “VAT should be on the table.” White House claims that Volcker … More

    Morning Bell: How the Left Really Plans to Pay for Obamacare

    According to the Congressional Budget Office (CBO), over half of President Barack Obama’s new $940 billion health care entitlement is paid for by price-fixing Medicare cuts. Never mind that the President’s own Centers for Medicare and Medicaid Services says that these cuts would cause “roughly 20 percent” of Medicare providers … More

    Did You Want More Spending with VAT?

    P.J. O’Rourke once quipped about spending in Washington: “The budget grows because, like zygotes and suburban lawns, it was designed to do nothing else.” To help pay for their addiction to more spending, the left is now calling for a value-added tax or VAT. Cato Senior Fellow Dan Mitchell, in … More

    Reject the Value-Added Tax, Rein in Spending Instead

    The Washington Post today ran an article on the possibility of lawmakers enacting a value-added tax (VAT) to pay for soaring government spending. A VAT is basically a national sales tax, and the possible 25 percent tax rate floated in the article would raise the cost of virtually all goods … More

    Out of Money? Value-Added Tax Next Up

    Massive increases of spending by the Obama Administration, from the stimulus to its proposed budget, have created historically unprecedented large deficits that will push the nation’s debt level to unsustainable levels. It was only a matter of time before the proponents of big government began their push to substantially increase … More