Reply #23: On the surface, it might not look so bad.

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If you dig into it and do the math, though, it's not remotely feasible. I'm not one of the people who wants to tax the upper brackets 75% or more until they bleed, but I do believe in a progressive tax. This particular proposal would tax the hell out of the middle class. In order to generate enough revenue to run the country, the tax burden on just about everything you buy would increase the cost by at least a third.

On Edit: Please don't construe this as an attack. I was very interested in this idea when I first heard about it (or something like it) a couple of years ago. The more I read, though, the more I realized this was a disaster waiting to happen.