The Revenue from the Current System we need to Replace
The Congressional Budget Office (CBO) does a wonderful job of keeping and publishing historical budget data. In particular, they publish tables of government revenue by major source. If you look at the 2003 numbers in this table you will find (in billions of dollars):
|Year||Individual Income Tax||Corporate Income Taxes||Social Insurance Taxes||Excise Taxes||Estate & Gift Taxes||Customs Duties||Miscellaneous Receipts||Total Revenues|
The FairTax repeals the taxes for the columns highlighted above in green. So the FairTax must replace the $793.7 + $131.8 + $713.0 + $22.0 = $1660.5 billion dollars in revenue. I will not discuss in detail the source of the $22.0 billion in gift and estate taxes, because it is so small.