And our present graduated income tax system is one of the ten basic principles for a communist society. [See the Communist Manifesto].
In that light the VAT does not sound so bad. And at least it is somewhat voluntary- you pay the tax only if you purchase the item in question. The income tax is regressive, punitive and compulsary.
EoM, As written, it sure is. That is why I suggest a true flat tax with no exemptions and/or deductions. NO individual or entity is favored. Whereas as the author writes, with the NRST, business and investors are favored greatly. Their wealth would compound almost exponentialy. While at the same time, Joe Sixpack's ability to save and further himself would be curtailed greatly. AND, when those not paying taxes wanted more government services {museums, opera halls, baseball stadiums, race tracks} they WILL ask for and get the politicians to raise the tax on those other guys. That's the way favoritism works. It just ain't right. Peace and love, George.