A nation-wide sales tax would be hazardous because it requires Congress to be involved in the restructuring. These are the same people responsible for the Internal Revenue Code and even after 90 years of experience, the Code fails to meet any normal standards for a simple, efficient, and effective tax on income.
1. Hillman on Commercial Loan Documentation http://www.pli.edu/Content.aspx?dsNav=Ns:sort_title|101|1|,N...
2. Securities Activities of Banks http://www.aspenpublishers.com/product.asp?catalog_name=Aspe...
3. Federal Taxation of Financial Instruments and Transactions http://ria.thomsonreuters.com/education/catalog/instruments....