Great thing is that it treats people and corporations equally, because corporations have their raw materials that need to be bought. It also gives us a great way to grow into the information economy, as the "products" we produce are the efforts of labor and intelligence that don't have raw materials to be bought, thus saving a lot of money and giving a REAL "tax incentive" to that sort of economic growth.
But, yeah, no electable politician will ever go for it. Oh well.
We did have it in our county's platform and every now and then it seems to develop a bit of traction. Added bonus...we'd get rid of the IRS! The accountants (of which I am one) and tax lawyers would scream to high heaven too. I'm not very popular among CPAs when I bring it up.