In this frightening Bloomberg article, John Podesta, Co-Chair of Obama’s transition team and President of the Center For American Progress (another SOCIAL JUSTICE organization), outlines ways in which the current administration is working to balance the federal budget…
Podesta said Obama will begin by ending the upper-income tax cuts enacted under his predecessor, President George W. Bush. “Then you have to look at whether that gets you far enough of the way,” he said.
A so-called consumption tax would “create a balance” with European and Japanese economies and “could potentially have a substantial effect on competitiveness,” said Podesta. Value- added taxes in Europe and Japan encourage savings by taxing consumption.
Podesta said such a tax may be regressive, but can be balanced by exempting some products and using “the money to support low-wage workers.”
Unbelievable. The Dems would not even consider Conservative alternatives to taxation such as a flat, fair or consumption tax, but WILL consider it when it is over and above an existing federal income tax!
I am just waiting for the upcoming tax revolt.