Warning: The Economy in 2015 Might Shock You

The VAT has it's good points and it's bad. IF, and that's a BIG IF, it also PERMANENTLY ELIMINATES all federal income tax, and replaces it with a rate comparable to the average income tax rate, with stern limits on how it may be increased, it could be a viable option. The other, even BIGGER IF, is there MUST be a way to reimburse the tax paid on after-tax, and promised tax-exempt savings in 401K's, Roth and Traditional IRA's, HSA's, and other accounts where one has ALREADY PAID income tax on that money, and it would be DOUBLE TAXATION to force them to pay a VAT or consumption tax on that same money when they spend it in retirement. Let's not add another unreasonable burden on retirees and those nearing retirement.