Sounds like it.
From FactsCheck:
Answer: No. This idea was first floated in 2004 by one House member, who says it would replace the federal income tax and eliminate the national debt. So far it has gone nowhere.
IMO, if they did place a transaction tax on ALL services, like legal fees, hair cutting, stock transactions, etc., they could get the percentage way lower. The intent would be that "we don't care how you got your money, we'll tax it when you spend it."
The problem is that while the income tax raises revenue, the pols use tax breaks as a carrot/favor and distorts the whole setup.
No IRS? Ah, perchance to dream.
Ahh Yes...IMHO..no meaningful economic recovery will occur until the income tax comes to an end. The time costs and bureaucratic expense of compliance reflect a 20th century economy.