Domenici and Rivlin Propose a 6.5% Federal VAT...

Reclaiming our future

They call it a "debt reduction sales tax."

I am skeptical because one of the heads of the enterprise--Pete Domenici--is another Republican budget arsonist who now wants to wear a fire chief's hat. I cannot remember Domenici voting against any major Republican initiative that broke open the deficit or voting for any major Democratic initiative that reduced the deficit in all his time in Congress. A willingness to put your vote on the line for deficit reduction should be a precondition for "bipartisanship" on the deficit. And I do not think Domenici meets it.

Still, looks like a vast improvement over Simpson-Bowles...