It would be the most liberating thing to happen to the USA since the American Revolution itself, in my humble opinion.
Agreed RayChuang88.
No business taxes.
No withholding.
No forms for private citizens to fill out
No gov agency knowing how much tax you pay or what you own or how many kids you claim, etc
Everyone paying the same marginal rate. Everyone from us citizens to illegals to tourists... everyone pays the same marginal rate. Everyone.
Exports become more competitive with removal of tax costs. Manufacturing becomes more competitive by having imports pay the excise.