Since the Senate opposed the creation of a Value-Added Tax (VAT) last week by an 85-13 margin, you might think the issue is dead. Even though it was a non-binding resolution, that’s still a pretty strong statement, after all! And let’s not forget, the President did promise on the campaign trail that “Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” So we’re safe, right?
Our friends at Americans for Tax Reform point out that the President’s “no tax hikes” pledge has been… altered. He’s started saying he won’t raise income taxes on Americans earning under $250,000/ year – which is a LOT different than “not your payroll tax, not your capital gains tax, not any of your taxes.” But since he’s already started hiking taxes insidiously – like on cigarettes, for example – it shouldn’t come as a surprise that he’s trying to walk back his rhetoric.
Unfortunately, the President has admitted that a VAT still on the table – despite the Senate vote, despite the evidence that it’s a bad idea, and despite overwhelming public opposition to the plan (sound familiar?) He’s even gone so far as to call it a “novel” idea. To be fair, the administration is desperate for money to cover their mounting debts – but this is ridiculous!
With all due respect, Mr. President, I have another “novel” idea. Keep your original promise, and don’t increase taxes. Any of them.