>>25
I don't like property, death, and gift taxes either. Heck, who likes taxes at all. I also a agree a simple system would be nice, but as someone has probably already mentioned standards of living are going go way down. The rich/poor divide is going to increase. Is this a bad thing? Probably, I hadn't thought about it much.
Necessities like cars (yes they are necessary at times) are going to be alot harder for your average person to buy. Buying used/old fuel inefficient cars is not an answer. Not everyone lives in a metro area with public transportation and walking is not always an option. Your average person loses.
The US automotive businesses which are already in the shitter are going to suffer from even less sales. This industry loses.
US economy slows down. The whole world loses.