[Pecos]

The point of failure of this plan for me is that it gives Congress another revenue stream (VAT/sales tax) without repealing the 16th amendment. Mark Levine (following my lead on this, IMHO) made comment on this last night.

[Sacajaweau]

So you're telling me that all the Fed taxes attached to anything...gasoline for example will go away. And there will be no SS and/or Medicare tax. Of course, there will be no mortgage/taxes deduction, no number of family members deduction etc....

So if you have 3 kids and make $50,000, you will have to pay 9% or $4,500 in taxes. If you have one kid and make $50,000, yopu will pay $4,500 in taxes.

And you will also pay 9% on your purchases....say another $2000 in taxes. And God knows what will happen to SS.