A news story from a CNBC reporter's discussion with a Treasury official suggests the Bush administration is considering lowering corporate taxes and replacing the "lost" revenue by instituting a Value Added Tax.
This is not a good thing.
If we are going to lower taxes -- and we should -- we really don't need to be creating any new ones to make up the difference. Other than as another way to manipulate corporations with the tax code, what good would that do?
