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If there is no federal income tax, there is no need for federal mortgage deductions. And there would automatically be a much bigger paycheck for every working American. Eventually, the Social Security Tax will also have to be phased out and privatized otherwise it fails of its own weight and goes bankrupt. This alone returns 16% (both sides, employee and employer) or so of every worker's paycheck to the working family.

As a bonus, the costs of all products sold will be reduced by 20% or so as the government tax burden on all products will be lightened.

Let's face it, the 25% that the federal government siphons off the GDP every year is a huge dead weight burden on our society!

They wouldn't lower their prices; when have ( except during the GREAT DEPRESSION ) businesses ever done that, when they got a tax break ?

Okay, so there is NO Fed income tax, but there would still be the rest of the deductions ? That would mean a 10 % ( and that's far too low, it'll be closer to 20 % ) consumption tax added to EVERY SINGLE purchase ? Taxes on food, drugs, doctor's visits, manicures, haircuts, etc. ? This, on top of state, city ( where it applies ), property and already existing consumption taxes ? There'll also be new tarrifs ( China, Europe, et al are just gonna LOVE that, Jim. )on everything we import and that'll raise the price of those items and make the consumption tax , on them, even higher.

There'll be NO mortgage deductionms ; however, they buyer will have to pay at least a 10 % ( probably much HIGHER ) consumption tax on the purchase of a new home / apartment ? There wouldn't be enough " extra " money, in peoples' pockets for that !

No unemployment benefits, no Medicare, no Medicad, and that's done immediately , in your wish list ? The Veterans Revolt, will look like a day in the park, compared to the riot, that would take place.

look, I'm NOT in favor of a bloated government and HATE the IRS ; however, reality tells me, that this plan is a crock. Back to the drawing board !