Spending to Force Value-Added Tax Implementation
By Jeff Poor| Business & Media Institute
N.H. Sen. Judd Gregg tells CNBC’s Larry Kudlow leaders are ‘trying to run the government into the ditch’ to institute European social welfare model.
We’ve heard from various elements that President Barack Obama was a socialist trying to “fundamentally change” the United States of America in a covert manner, but maybe it isn’t as covert as it seems.
A recent CNS News analysis of government data shows that in the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion – more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan. So why is the government doing this? Larry Kudlow asked Sen. Judd Gregg, R-N.H., that question on his Sept. 9 program, suggesting it was a “giant massive tax trap.”
“Senator, instead of going bankrupt, you know what will happen?” Kudlow said. “It’s a massive tax trap. That’s what’s going to happen. It’s going to be a gigantic humongous, massive tax trap that will doom us to subpar, stagnant, slow economic growth and high unemployment. Isn’t that really the issue?”
According to Gregg, who was at one time Obama’s choice for Secretary of Commerce until he withdrew his name, it’s part of a philosophy that sees the private sector as “under-taxed.”