I don't pay sales tax in my state so your argument is completely wasted right there. This is absolutely false that you pay a 5 to 6 percent federal sales tax. Its a state or county or city tax that you are paying. It sounds like someone has go back and read their Constitution and all amendments.
Simple. Jobs and trading activity will quickly offshore. For example, there are a number of exchange products that quickly moved to electronic trading on another exchange when the former exchange tried to keep open their pits. Someone just published an ET thread about Hedge Funds moving and considering moving from London to Switzerland, based on new British taxes. walter4, you need to take Econ 101 before becoming the next "Mr. Clueless Starts Another Thread."