LOS ANGELES (YBH.ME) – Appearing on Charlie Rose’s PBS show on Monday night, House Speaker Nancy Pelosi affirmed that a Value Added Tax, or VAT, is on the table.
Nancy Pelosi floats trial balloon on VAT
Pelosi said that any new taxes would come after Congress finishes the health care debate, and that it may come as part of a larger overhaul to the tax code.
The Speaker also emphasized that any reworking of the tax code would not result in an increase in taxes on middle-class Americans. This is a claim Ms. Pelosi’s political opponents will take issue with, as a VAT would add tax on almost all steps of production. Businesses would likely pass the cost on to consumers through higher prices.
VAT’s are in place throughout Europe and critics claim that the tax inhibits job growth and keeps production costs high.
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