[Protagoras]

The Baby Boomers are about to retire, and they won't be happy about paying Federal taxes on their income their whole working lives, and then getting bent-over twice by paying Federal taxes on everything they buy during their golden years.

Bingo.

Also, People might want to think about what the short term effects on the economy will be if this thing ever saw the light of day. I know what one person will do (me).

I would immediately stop buying anything whatsoever that wasn't absolutely essential for life. I'd pocket the savings for as long as I could to try to get whole from all the years these filthy thieving thugs have stolen my money. Then and only then, would I ever buy anything I didn't need.

[pigdog]

Actually the short (and long) term effects on the economy would be dramatically good.

But, hey, why "pocket" the savings (which WOULD be considerable) ... why not invest them since investment income is not taxed and it helps boost the economy?