Friday, April 9, 2010

McCarthy: are we facing a 'value added tax (VAT)' on top of other tax increases?

 Rep. Kevin McCarthy (R-Bakersfield) gives his view from Capitol Hill. In his own words:

 "I started the week by celebrating Easter Sunday with my family.  The day before was my son's 16th birthday - amazing how time flies. I squeezed in a little work talking with Chris Wallace during an early morning appearance on Fox News Sunday.  We discussed the future direction of our country and the need for Congress to listen to the American people.
 "As I mentioned last week, I am heading up a new initiative (Commitment to America) to do just that; this project seeks to engage Americans by all means possible--from cutting edge technology to the more traditional town hall meetings--to bring forward common sense solutions that will lay the foundation for a better future for our children.

 "On Wednesday, neighboring Congressman Buck McKeon (CA-25) and I held a joint town hall in Lancaster.  During the meeting we listened to a number of people express their frustration with Washington.  I appreciate all those who took the time out of their evening to share with me their ideas.  I truly believe the best ideas are not in Washington, but from our neighbors and friends who see and experience the effects of bad policy decisions. That is why I think Washington should do more listening and less spending.‬

 "That said, common sense says that if you are in debt, the first step you should take is reduce spending and get out of debt. However, when it comes to deficit spending, this Congress and President have no such will.  Instead of reducing spending, they have decided to simply raise taxes.  In fact, this week a top Administration official suggested that our country may need to impose a “value added tax” (VAT) on top of a national income tax like many European countries have.  I firmly believe that raising taxes at a time when unemployment hovers at 9.7% nationally and 12.5% in California is a recipe for disaster. ‬‪‬‪

 "To help keep government accountable on spending, I introduced legislation (H.R. 4943) that would require the IRS to publish an annual report showing the state of Federal government finances both on its web and in the instruction booklets individuals’ use when preparing their income taxes. Just as public companies provide their stockholders with information on company finances, I believe American taxpayers - the Federal governments’ stockholders - ought to know the state of our nation’s finances as well.  This report would include current and projected Federal tax revenue, spending, deficits/surplus, and public debt, as well as the public debt per taxpayer. Transparency and openness in government is vital to American democracy, and this bill is designed to build upon these fundamental tenets.

‬‪‬‪ "I finished out the week attending the Red Cross Real Heroes luncheon in Bakersfield - recognizing local residents who have served our community in amazing ways.  Finally, the State Forensic Finals will be held for the first time ever at Bakersfield College next weekend.  Good luck to our local representatives and I hope everyone can judge a few debate rounds.

1 comment:

Anonymous said...

Reducing spending would prolong the recession, Kevin! Yes, the VAT (as an additive tax instead of a replacement tax) is a terrible idea right now. But when the economy turns around, we will pay for this, as long as we have the kind of responsible Congress we had in the 1990s (Republicans!) and not the irresponsible one of the 2000s. We got out of the Great Depression with the full-employment program called World War II, and paid for it with revenues from the roaring economy in the decade that followed. The government should be hiring people to build infrastructure left and right, and shed them to the private sector when the private sector is ready to hire them.

Stop saying "no" and read some economic history, Kevin!