Would a 10% national sales tax provide adequate revenue?

Question

Would a 10% national sales tax provide adequate revenue for the U.S. Treasury? What would be the impact of such tax other than simplifying the US tax code? Who would benefit most from such a tax?

Answer 1

Not unless Congress really cuts some pork. But if it happened-- Tax payers would benefit! They wouldn't have to spend money to figure out their taxes. Unemployment for CPAs would skyrocket though.

Answer 2

Probably not, because the people who "earn" the most money don't spend but a small fraction and hoard the rest. The extremely wealthy would benefit the most from this type of tax, because the would only be taxed on the small portion of their income that they spent, where normal people who have to spend pretty much all of their income would be taxed on every bit of it. A lot of people favor this, generally they are either very wealthy or some talking head employed by the very wealthy has pulled the wool over their eyes.

Answer 3

A sales tax is regressive and benefits the wealthy. I stop spending on the war in Iraq and Afghanistan, cut back on military spending like George McGovern suggested in 1972, and most of all, eliminate all benefits to the veterans of foreign wars, which incidentally, is a fraud against the U.S. treasury and a huge waste of money.