Good thing I have a Roth IRA

Like millions of Americans, Attaturk has a variety of income tax favored retirement accounts. Cumulatively these accounts are in the ... well I don't know, trillions?

Like Digby, I think this is a throw it against the wall trial balloon (it is from frickin' Drudge who's batting average gets ever lower) and it reflects two things (again, if true):

(1) Disastrous public policy that sounds like Candy -- as is just as nutritious as an all-candy diet.

and

(2) Regressivity. Yes, that's what we want from the tax system. Hike all your purchases 20% over what you pay now and you get the idea. The rich benefit and the middle class and poor are encouraged NOT TO BUY!

The investment markets will also definitely NOT be happy if this is a serious policy proposal. Investment markets know crap policy when they see it.

VAT's imposed upon a system such as ours, over the current system, is a self-imposed shock policy that is both bad policy short and long term.

My desire to see the GOP permanently marginalized by disastrous policy decisions for generations is quite high...

But I love my country and would rather not see disastrous policy implemented, crazy Patriot that I am.