'If at the End of the Day We Need to Raise Taxes, We Should Raise Taxes'

They'd like to raise taxes at the beginning, middle and end of every day, except they're anathema to the public. But hey, if they're willing to further compound their misery and ensure electoral disaster this November, this is a good way to start.

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.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

I'd like to see a poll to see how toxic a VAT would be, not to mention a carbon tax.

These people really need a good smackdown come November. Which is probably why they're in such bad shape they think running against Bush is a marketable strategy.