VAT tax cut results in increase in consumer confidence

Once again, a reduction in taxes had accomplished what all the spending by gov't could not.

The ER cut its Value Added Tax by 2.5% late last year. Already, this cut has resulted in an increase in retail sales of an estimated $2.1B Euros.

Unfortunately, in the U.S., the only thing Washington can do is to take away from one sector and give it to another. Not to mention ensure that our taxes will be raised in every sector.

God help us, if the Europeans can figure it out, why can't our leadership in Washington, D.C.?

http://news.bbc.co.uk/2/hi/business/7995850.stm