Liberal commentator Nancy Skinner conceded there is one issue the right is right on - the value-added tax (VAT) is an absurd idea.
Skinner who is a regular guest on the Fox Business Network, stated April 7 that the VAT will do absolutely nothing to help the ailing economy, concurring with the "Bulls and Bears" panel.
"Everybody, you're going to be surprised: I finally found a tax I don't like, and it's this VAT tax!" Skinner exclaimed. "Here's why - it doesn't produce any behavioral changes - it's hidden as Gerri Willis said. What you want in a tax is a tax that changes behavior."
As Reuters reported April 6, White House adviser Paul Volcker - of the Larry Summers school of economics - threw out a trial-balloon recently, saying the U.S. may need to consider a European-style value-added tax to raise revenue and bring the deficit under control.