Friday, October 15, 2010

Daniels Threatens to Repeat Mistake with VAT

Indiana Governor and potential 2012 presidential candidate, Mitch Daniels, suggests potential support for a European-style Value Added Tax which is essentially a wholesaler tax on goods. Daniels seems to forget that his state had to repeal a VAT-like gross receipts tax several years ago because of the harm it did to the state's economy. If Daniels truly has presidential aspirations, he'll need to do a better job of remembering history or his campaign could sink before it leaves shore.

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