We need new taxes.... Ok, so Paul Volcker believes we need a value added tax. But what about Øbamacare, that according to the Øbamessiah, somehow by forcing the purchase of health care by nearly everyone (and by nearly everyone, I leave out the congressional staffers who exempted themselves) we are going to somehow save trillions of dollars. Yet, Mr. Volcker believes we need a VAT to tame the deficit. I'm NOT an economist and I DON'T play one on the internet, but why does this smell like a Keynesian idea?
The entire middle class is going to get the short end of the stick if this goes into effect.
h/t to the P/Oed Patriot