I propose the President eliminates all Federal taxes and implements a variable VAT (National Sales Tax) that would fluctuate every year depending on the needs of the federal government. This variable rate would capped from going higher than a certain percentage which would be voted on by Congress and many common items, such as bread, milk, or diapers, would be exempt. This variable vat tax would have the following beneficial effects on the US.
1) Big business and the 1% could not hide their money. If they purchase something - it's taxed.
2) 90% of the IRS could be shut down reducing Federal Spending.
3) Working class families could keep 100% of their earnings & many needed items would be tax free.
4) Would promote investment and saving.
5) VAT reduced if spending goes down.