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IPFS News Link • TAXES: Federal

Volcker: Taxes likely to rise eventually to tame deficit

04-07-2010 • reuters.com/

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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Reported By Jack Gregson

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