Slow Road to Hell: Spain Entertains VAT Hike

Slow Road to Hell: Spain Entertains VAT Hike

Of all the inept policy moves in the midst of a clear depression, hiking taxes is right at the top of the list. Yet, that is the path Spain is on, because it will not meet its budget projections.

Here is a link to an amusing "as is" Google translation of an article on El Econimista whose headline reads "The Government will raise the VAT if they fail the current fiscal".

What caught my eye was the translation of the last sentence that reads "Therefore, it is possible that eventually have to raise this popular tax before the deadline."

I was laughing...