Volcker has lost his mind with this idea of a VAT tax. The VAT tax is really an evil tax that hits everyone including the poorest people, it taxes labor as well, hence it is also an income tax. The VAT tax should be abolished everywhere . The way to solve the revenue problem is simply to tax people according to their profession. Entrepreneurs should benefit from much more progressive tax rates with a lower top marginal rate. "Less productive" professions and professions in industries benefiting from monopolies or advantageous conditions granted by law or otherwise should be taxed according to less progressive marginal rates with higher top rates . For example, let's tax CEO's of utilities and energy companies at a top rate of 65%, let's tax bankers at a top rate of 70%, let's tax government employees at a top rate of 60% and so on. A wealth tax could also be introduced such as in France or Switzerland, this taxes the idle rich . A special tax on executive bonuses, options grants and golden parachutes wouldn't be a bad idea either . And also let's tax polluters . We would solve much of the revenue problem .