That’s what it’s all about these days. Ian Welsh:
When House Speaker Nancy Pelosi told Charlie Rose last October that a value-added tax was “on the table” as a possible way to solve the nation’s fiscal woes, the remark didn’t generate much interest. But as recent budget figures have put the depth of America’s problem into black and white, and with former Federal Reserve Chairman and White House adviser Paul Volcker nearly secondingPelosi’s view recently, the idea of a VAT — already in use in nearly 160 countries — is gaining traction.
Trillions were spent to bailout bankers, and every dollar spent fixing the mess since then is also effectively caused by the failures of the rich.
A VAT isn’t necessarily evil, but until progressive taxation is restored, capital gains are taxed at the same level as ordinary income, corporations are forced to pay taxes on their actual profits (rather than making billions and paying no taxes) and a financial transactions tax is implemented, why is another regressive tax (one that hits the poor instead of the rich) even being considered?
Oh, yeah, because this government exists to do unpopular things Republicans want to do while allowing Republicans to vote against them, as with Medicare, essentially a 1994 Republican plan.
With Democrats like these, who needs Republicans?
I was thinking today that I didn’t think I could ever bring myself to vote again. I just don’t see the point.