Subject: Re: Buffett’s view on current account deficits
Turkeys don't like voting for Thanksgiving,...

Are you sure Jim?
77 million, as 8th&20eth reminded us, seem to have.

Anyway.
I think a broad VAT or national sales tax is regressive. A flat tax that hurts those who consume a bigger proportion of their income, i.e. the poor.
Unfortunately, I believe US cannot have a wealth tax due to our constitution. Otherwise, a mix of VAT, income tax, and wealth tax would be a fairer distribution of pain. Without that, I am good with having no national sales tax.