Focker 
Go read it again. It replaces the IRS. No payroll taxes at all, including Social Security and Medicare. No federal income taxes of indivdual or corperations. The only tax you pay is at the cash register.
This elimates all the federal hidden taxes in every product you buy. It also eliminates the recordkeeping burden on companies. Also fewer lawyers, accountants, bookkeepers etc are needed. Once these are eliminated the cost of goods should go down by more than the federal sales tax.
Also each and every individual would receive a check from the federal government each month equilant to the tax on basic needs. This would offset the taxes on everyone just paying for the basics in life.
All individuals who lie to get out of paying taxes and all tax loop holes would close. 95% of all lobbyists would bo out of a job since their job is to get groups special deals on their taxes.
Also for those who are wondering, the more you spend the more taxes you pay so the rich people wil continue to pay more.
Lastly since the federal income tax is eliminated we, the US, will have the lowest corperate taxes in the world. Money that has been hiding around the world will come screaming back here along with those seeking high, safe returns in the most secure country in the world.
Read it again, Mike.
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