"All of this is in addition to any of the other difficulties such a system would face as has already been previously mentioned; such as avoidance of taxation through a black market (case in point look at the mob and their traffic of tobacco products into New York), non removal of excise taxes, incentives for home ownership (why buy a house when you can rent and pay the same taxes?) and a new bureaucracy to manage the new taxation system. "
You seem to have only a superficial grasp of what the FairTax is and how it functions. You give the good old "black market" shibboleth with no definition of what you mean nor any definitive backup information and you cite apocryphal data relating to sales tax arbitrage between states with is completely eliminated under the FairTax.
You also cite "incentives for home ownership" as a negative when if fact it is one of the very positive parts of the FairTax which is clearly shown by the information on the FairTax website.
You seem to actually have done little in investigating the matter and make what amounts to a claim of having decreasing prices with taxpayers having more and that this combination will be "the biggest economy-destroying event" in the history of the Universe (or perhaps it was Intergalactic Space. IAE, it seemed a bit much - especially since just the opposite is the thing that will occur.
Also your claim that prices will decline with the elimination of the income tax is an "assertion" clearly means that you believe there is no income tax costs embedded in prices today. You certainly on a very sharply-pointed platform with that claim as most people certainly realize that is not the case.
But I'd be glad to read your detailed economic analysis of how the FairTax will drive our country "to hell in a handbasket" for perusal. Just be sure it is adequately presented as to methodology and data sources as is the lead-in paper in this thread. Since you're so positive of your claim, I'll just wait here on line as it shouldn't take you long ...
I have better things to do than to spend my entire weekend writing an economic paper detailing how the Fair Tax is a house of cards built on a shaky foundation of assumptions. I actually find whole premise interresting and possibly cause of further research. I just find fault in it being implemented.
Keep in mind however that it would cause a massive restructering of the economy to pull off, and any restructering of an economy (one that is working should I add) can cause huge displacements.