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I think you can design one such way that does not cause too much harm for American Industries that compete with folks abroad. Consumption tax is difficult if you try to do a value added tax. There are things you can do to tweak the incometax to make it look like a value added tax. At the end of the day, what you think the tax code will look like when these conversations between the president and Speaker John Boehner are done . What will look like when they are done . I think we will have slightly higher marginal tax rates on some at least one high income tax bracket and i think there will be a variety of tax and exclusions and deductions that are scaled back modestly and thats about it. It scaledback means capt. Someone, i agree completely. I think we will see some of those things rolled back. I think the top rate will be in between 39 and 45 . We have some Common Ground among our economists where we will end up. Thank you for joining us and thank you all. I appreciate the Pedersen Fou

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