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Despite denials, the Obama Administration is clearly considering a Value-Added Tax to pay for their
binge spending habit
And earlier this week, Obama’s Press Secretary denied that the President is considering VAT
Q: "Is there anything that this administration is doing to consider, calculate, pose in any way, shape or
form, weigh or measure potential deficit implications or economic implications of a value-added tax?"
GIBBS: "No, this is not something the President has proposed nor is it under consideration." (Briefing By
Press Secretary Robert Gibbs, The White House, 4/19/10)
Obama's economic team has already calculated how large VAT would need to be in order to pay for their
binge-spending
“…One way to reach that 3% goal, by the calculations of Mr. Obama's economic team: a 5 percent
value-added tax ..." (John Harwood of the The New York Times, 4/18/10)
Obama economic adviser Paul Volcker says the VAT is needed to get Obama’s deficit under control
"The United States ... may need to consider a European-style value-added tax, White House adviser
Paul Volcker said on Tuesday. Volcker ... said the value-added tax 'was not as toxic an idea' as it has
been in the past ... 'If at the end of the day we need to raise taxes, we should raise taxes,' he said."
(Volcker, Reuters, 4/6/10)