The “Center for American Progress” lead by John Podesta, a former Clinton Chief of Staff and senior Obama adviser, recommended in a report to the Obama administration that:
[T]he administration should consider a tax on consumption, such as a value-added tax [VAT] system similar to that in use in the European Union. Mr. Podesta suggested that its impact should be limited to protect lower-income people, who otherwise might be hit particularly hard.
“As progressives we need to debate the policy merits [of] a range of options, including designing a small and more progressive value-added tax,” Mr. Podesta said in a statement Tuesday.
The report, said the administration can’t rely on taxing richer Americans and companies to reduce the deficit to sustainable levels by 2014 because those groups would see 40% tax increases.
The Obama administration wants to stimulate consumer spending to revive the economy. Ok, good idea! But to achieve that, they propose a tax on consumption. Brilliant!!
I'm getting the sense that a shittier economy is the goal of this administration.