Sullivan, Martin, Ed., “The VAT Reader, What a Federal Consumption Tax Would Mean for America,” Tax Analysts, Falls Church, VA, 2011

“Among the unpleasant possibilities, a VAT must be on the short list of options. For starters, a VAT is a consumption tax. Economists of all stripes agree that if there must be a new tax, a broad-based consumption tax will do the least economic damage. Further, all the world’s other leading economies have VAT regimes.
The amount of revenue a VAT would bring in depends critically on the details of its design, but a reasonable estimate is that it would take a VAT with a rate in the neighborhood of 10 percent to stabilize our country’s debt-to-GDP ratio. This ballpark figure is only a point of reference not a prediction or a recommendation.
It’s unlikely a VAT would ever become law in America without major spending cuts also contributing to deficit reduction. Concurrent spending cuts would lower the VAT rate needed to restore fiscal sustainability. Conversely, there is a good chance that any new VAT would fund a reduction of other taxes. That is there could be a tax reform and deficit reduction element to the adoption of a VAT. That would raise the VAT rate necessary to achieve fiscal sustainability,” p. 11
— Martin A. Sullivan, Editor