In a non-binding test vote in the U.S. Senate today, a Value Added Tax (VAT) resolution was approved in a vote of 85-13. Senator John McCain introduced the resolution declaring a VAT a "massive tax increase that will cripple families on fixed income." Republican Senator George Voinovich (OH) disagreed with McCain's assessment and so one Republican joined twelve Democrats in supporting a Value Added tax.
Voinovitch, finding that Ohioans were'nt fond of giving him another term, decided to retire from the Senate in January 2011. An April 2010 Rasmussen poll shows Republican Rob Portman "slightly" ahead of his two chief Democratic rivals, Lee Fisher and Jennifer Brunner.
"Though Mr. Volcker didn't say this, he is acknowledging that taxes on the rich can't begin to finance the levels of new spending that the current government has unleased. Even the expiration of the Bush tax rates next January and the new taxes in the health-care bill won't be enough."It's clear that we MUST drag out the chopping block.
McCain introduced the resolution to show a 'sense of the Senate's' opposition before the idea can grow political legs.