Quote Originally Posted by SniperJoe
Pretty much. It is designed to be revenue neutral, which means that the government would take in a similar amount of money. The XBox would still cost $300, but 23% would go to the Feds.

You would still have things like state income tax and property tax, though. But you'd get your entire paycheck rather than a chunk of it.
I believe its both state and fed income taxes that would be gone. Another big one would be capital gains, which would be nice.