8/27/2010

A value-added tax on goods sold in the U.S. would likely result in slower retail sales, according to the results of a new National Retail Federation survey. Almost two-thirds of consumers responding to the survey said a VAT -- essentially a tax added at each step in the life of a product -- would cut into their personal spending. "These numbers are clear evidence of what common sense would tell even the most casual observer: If you tax spending at a time when the economy is still struggling to recover, consumers are going to spend less," said NRF President and CEO Matthew Shay.

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