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White House Adviser: America Needs a Tax Hike

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Posted on April 7 2010 3:43 pm
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by Steven C. Johnson and Leah Schnurr

The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax “was not as toxic an idea” as it has been in the past and also said a carbon or other energy-related tax may become necessary.

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