Read about it here. BHO promised the masses that they could have their cake and eat it, too.
He was wrong, of course, as any ECON 101 student can explain with ease. What about a Value Added Tax (VAT)? Is that a good idea? Easy answer: yes, if we use a VAT to replace the federal income tax and all federal payroll withholding taxes too. But if Congress piles a VAT on top of the federal income tax, you may want to consider putting on your street shoes and joining a tax revolt.
But maybe you won't mind paying 50% of your earnings in taxes. If you do mind, I propose that you consider joining the New Blood Party.