[USNBandit]

She's looking to abolish all current taxes and institute a federal 2 percent point-of-purchase consumption tax she believes will create millions of jobs.

"No group will be exempt," she says, claiming annual collected revenues would be in the range of $10 to $20 trillion, "while citizens are liberated from massive, controlling tax oppression."

Interesting math here. Isn't the total gross domestic product $14.6 billion? How do you tax even $10 trillion out of that?

[Mich Patriot]

14.7 trillion for 2010, but still hard to see revenues of $10 trillion. Sales taxes can increase revenues beyond what you might think possible because of the velocity of money (spent several times a year), however with no national sales tax...?

[runninglips]

TRUE Tax...taxing stock and bond trades...It seems to be a great idea to me. The problem is the details are in a book I will not buy.

[RobertClark]

Interesting math here. Isn't the total gross domestic product $14.6 billion? How do you tax even $10 trillion out of that?

The 2010 GDP was $14.58 trillion. However, she indicates a desire for a 2% transaction tax on retail sales. Total retail sales in the US for 2010 were roughly $4.35 trillion. A 2% tax would only generate $87.1 billion on those retail sales.

Economics are, obviously, not this woman's strong subject - Hell, basic math either for that matter.

[oldtimer]

Sounds like another lib mole like the one who elected the frankenstein monster in Minnesota.

[Yo-Yo]

Interesting math here. Isn't the total gross domestic product $14.6 billion? How do you tax even $10 trillion out of that?

Obviously a simple typo, as I'm sure you know the GDP for 2010 was $14.6 trillion.

2% of that is $292 billion, and we have a $2 trillion annual budget.