Sunday, November 21, 2010

In Good Company?

Republican leadership demonstrates once again their ignorance and how bankrupt their thinking is. Eric Cantor, one of the "young stars" of the Republican Party, rejected the idea of a VAT (value added tax) as being "too European." A VAT was one potential solution to the budget problems suggested by the deficit commission. Catherine Rampell provides a map of the 150+ countries around the world that currently use this device to fund their governments. The question is: would we rather be associated with European governments (and Canada, Australia, Japan, China and India) or the likes of Saudi Arabia, Libya, Iran, Angola and Myanmar?

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