If we could replace the income tax with a VAT, I’d be all for it. For one thing, it would even the playing field against the EU. They get to tax our products, but we don’t get to tax them. So it would lead to something closer to fair trade.
But of course the plan is to simply pile one tax upon another. Income taxes, sales taxes, death taxes, capital gains taxes, liquor taxes, cigarette taxes, gas taxes, you name it and it’s in the works.
Except when you tax something, you get less of it. This is a tax on domestic production and will add between 30 and 50 percent (or more if there are several levels of production) on everything produced in the US. Ask the UAW what they think about the few remaining US automakers moving production to China.