Political Quotes

“Mr. Speaker, consumer spending is critical to creating new jobs, and the last thing we want to do during a recovery is discourage it. Unfortunately, we are hearing whispers and rumblings that the President's debt commission could recommend a new value-added tax before the end of the year, a VAT tax. Close advisers to the President such as Paul Volcker and John Podesta have publicly supported this tax which is already widely used in Europe. The problem is that European taxes mean European unemployment and European levels of job growth. From 1982 to 2007, the U.S. created 45 million new jobs, compared to only 10 million in Europe. VAT taxes raised the price of goods, directly reducing consumer purchasing power, and this means fewer jobs. I think we need to make it clear to the debt commission that a VAT tax is no solution to our fiscal problems. The real solution is to restrain Federal Government spending that has far outstripped its traditional boundaries. I'm circulating a letter for signatures to the commission opposing the VAT tax, and I hope all my colleagues will stand with me against the VAT tax. ____________________”