Fall Volcker News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Purchases. jim angle joins us from washington. about the value added tax. why are they even talking about that at this point? the administration said, no, no no. >> reporter: the reason it's come up is the reasons you were just talking about. all those deficit numbers. the senate voted 85-13 against the idea. but the vote wasn't binding. but it is a sign many lawmakers are worried about what's coming. >> the value added tax is becoming a hot topic because people are realizing the deficit is so big if politicians aren't willing to cut spending, the regular ways of raising taxes, raising tax rat...

But neither the president or any other official has embraced the idea as least not yet. megyn: mani' people say they are considering it citing volcker and others. what is a value added tax? >> reporter: you did a good job, i know people who are more informed about this than either one of us it's a national sales tax imposed at every stage of production. a good example would be bread. listen to this. >> when the farmer grows the wheat, sells it to the baker, the value added tax on that, when the baker makes it into something and sells it to the grocery store, there is value added tax. when the ...