What I'd prefer seeing instead of a Sales Tax (consumption based) is a flat tax of ten percent with no deductions/allowances (everyone pays the same amount)
Ten percent on what? Income or profit?
If you say "profit", what do I get to deduct from my income to call "profit"? Wages? Rent? Equipment? Raw materials? Transportation costs? Marketing and advertising? Employee training? Sales retreats? Investment expenses?
If it is income, I buy 100 shares at $10, and sell that 100 shares for $11, when I sell the shares I have an income of $1100, but a profit of $100 (actually less once you figure in brokerage commission). Are you going to let me deduct the cost of the shares I bought and the brokerage commission? Or do I have to pay $110 in taxes on that trade?