An editorial in the April 20 Wall Street Journal titled “The Toxic VAT” explained: “Bipartisanship has broken out in the Senate, not that the media bothered to notice. Last week John McCain introduced a resolution stating that ‘It is the sense of the Senate that the Value Added Tax is a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery.’ The resolution passed 85 to 13.”
Who voted against this bit of economic sanity? As the Journal reported: “Republican George Voinovich of Ohio, and a dozen Democrats: Daniel Akaka (Hawaii), Jeff Bingaman (N.M.), Sherrod Brown (Ohio), Robert Byrd (W.Va.), Ben Cardin (Md.), Byron Dorgan (N.D.), Ted Kaufman (Del.), Carl Levin (Mich.), Jack Reed (R.I.), Tom Udall (N.M.), James Webb (Va.) and Sheldon Whitehouse (R.I.).”
Take note.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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