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Value-Added Tax Would Hurt Economy, Kill Jobs, Business Group Study FindsBy Matt Cover, CNSNews.com Staff WriterCNSnews.com Oct. 15, 2010 |
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 (CNSNews.com) -- An economic analysis sponsored by the National Retail Federation (NRF) shows that a Value-Added Tax (VAT) would damage economic growth and kill hundreds of thousands of jobs. The study showed that a large reduction in federal spending would be better for the economy. The NRF study was conducted because President Barack Obama's Fiscal Commission, which is scheduled to issue its first report soon, reportedly is considering a VAT as one option for reigning in out-of-control federal deficits. "An add-on VAT would result in less economic growth as compared to a reduction in government spending, when addressing the nation's long-term fiscal imbalance," the report said. Read More 
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