re: #354 NJDhockeyfan

This will finish off the economy…

Volcker on the VAT
The middle class is where the money is.

White House distances itself from Volcker tax remarks

WASHINGTON, April 7 (Reuters) - The White House distanced itself on Wednesday from remarks by former Federal Reserve Chairman Paul Volcker that higher U.S. taxes might one day be needed to control the country’s deficit.

Volcker, an influential adviser to President Barack Obama, made the remarks on Tuesday in New York.

“Mr. Volcker was speaking for himself and not the administration. The president has not proposed this idea nor is it under consideration,” a White House official said.

“The president has passed historic tax cuts for middle-class families and continues to push for more tax cuts. The president is not proposing to cut the deficit at the expense of middle-class families,” the official said…