Schuyler, Michael A., “Consumption Taxes: Promises & Problems,” Institute for Research on the Economics of Taxation, Washington, DC, 1984

“In summary, a VAT is similar in many respects to a retail sales tax.  The chief advantage of these taxes, as well as a consumed income tax, is that they would not encourage immediate consumption at the expense of saving and investment.  For that reason, they should pay us long-run dividends in terms of higher productivity and more employment.  Although the VAT with its multipart collection method may be slightly less convenient than the retail sales tax, it has the advantage of being more enforceable.  Acccordingly, in addition to being a good candidate for supplanting both the corporate income tax and the present maze of federal excise taxes, a VAT would be capable of generating sufficient revenues to replace much of the current tax system.  It would not be very attractive, however, as a minor or temporary revenue source,” p. 115