David Kirkpatrick

October 2, 2009

Is a value-added tax coming?

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 3:40 pm

I sure hope not.

From the link:

President Obama has been steadfast in his pledge that he won’t raise taxes on those making less than $250,000. But that doesn’t mean only high-income households will be subject to higher taxes.

An increasing number of influential Democrats and fiscal-policy experts have signaled that lawmakers will have to get a handle on the deficit. And they recommend seriously considering the creation of a value-added tax (VAT) on top of the federal income tax.

That could mean more money out of everyone’s pockets when buying virtually anything — sweaters, school books, furniture, pottery classes, dinners out.

A VAT is tax on consumption similar to a national sales tax. But it’s not just paid at the cash register. It’s levied at every stage of production. So all businesses involved in making a product or performing a service would pay a VAT. And then the end-user — such as the retail customer — ponies up as well.

March 27, 2009

GOP budget plan?

Filed under: Politics — Tags: , , , , — David Kirkpatrick @ 3:37 pm

Apparently this …

GOP budget chart

GOP budget chart

The Republican Party isn’t even trying anymore is it? This has already been very widely (and rightly so) mocked on the blogosphere as being a bit too reminiscent of South Park’s underwear gnomes profitability plan.
The “Rebpulican Road to Recovery” rectangle is where all the “magic” happens here. Too bad the curtain has long been pulled aside exposing exactly what that “magic” entails. And it’s not policy, brains or, judging by this chart, any iota of seriousness.
The long walk in the wilderness just got a little longer for the GOP.
(Hat tip: the Daily Dish)

March 5, 2009

Because this worked so well in the 90s …

Filed under: Politics — Tags: , , , , , — David Kirkpatrick @ 10:27 pm

the GOP is blocking a spending bill forcing stopgap budgetary measures. Good way to stop looking obstructionist during a financial crisis that currently surpasses 1929 there.

From the first link:

Senate Republicans blocked a $410 billion omnibus spending measure on Thursday night, forcing Congressional Democrats to prepare a stopgap budget resolution to keep the federal government from shutting down.