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Tuesday, August 30, 2011
CNS Falsely Attacks Obama Nominee Over VAT
Topic: CNSNews.com

Fred Lucas writes in an Aug. 29 CNSNews.com article:

President Barack Obama’s nominee to chair the President’s Council of Economic Advisors has supported a European-style consumption tax that taxes every stage of production for a good or service, a policy generally called a Value Added Tax, or VAT.

Alan Krueger, a Princeton University economist, called for the Value Added Tax in a commentary for the New York Times in January 2009. The White House, however, has said that President Obama would not consider such a tax.

“Why not pass a 5 percent consumption tax to take effect two years from now? There are many different ways to implement a consumption tax, but for simplicity think about a national sales tax,” Krueger wrote in the Times piece published on Jan. 12, 2009, shortly before Obama took office.

The consumption tax differs from a “Fair Tax” proposal or national sales tax proposal that has been considered in recent years by U.S. politicians who want to replace the income tax. The VAT would be a levy that adds to the current tax structure.

In fact, as Media Matters details, Kruger didn't express support for a VAT in that Times article; he specifically stated that "I pose it only as a suggestion for serious discussion; I'm not sure it is the best way to go."

Lucas further messes up by stating that "The VAT would be a levy that adds to the current tax structure." Actually, Krueger stated that over time, "income taxes or corporate taxes could be reduced and the revenue replaced by the consumption tax."


Posted by Terry K. at 2:16 AM EDT

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