Wednesday, April 07, 2010

Volcker: [Carbon tax may be needed to cover entitlement costs]
NEW YORK (Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.
Flashback: YouTube - President Obama's Pledge Never to Raise Taxes on Anyone Making Less Than $250,000 a Year
taxreformer — February 04, 2009 — This footage was taken during than presidential candidate Obama's speech in Dover, NH. President Obama pledges not to raise taxes on anyone making less than $250,000 a year.

1 comment:

catmman said...

Not even hiding it anymore.

You would think that he would have made the statement about carbon taxes being needed for climate change AND to help with entitlement costs.


Just need to soak the taxpayer to continue covering the cost of big, excessive government.