This is the worst idea I've heard from the Idiot-in-Chief since... oh, who's counting?
I don't know a lot about economics, but I come from Tennessee, home of one of the highest sales taxes in the nation (including on food, and yes I do mean groceries). And sales taxes are definitely regressive.
Do the math. Say a person needs x amount of food to survive, taxed at 8%. For Bill Gates that tax is nothing; for the average middle-class American it's an 8% jump in the food bill. Talk about your cost of living increase...
I guess this is his way of saying he doesn't think he's put enough of the tax burden on the middle and lower class.
And if this post pisses you off, I don't give a fuck.
EDIT: Excellent article from blackacre: