[groanup]

Personally, I see this scheme as a way for the "going broke fast" government to exploit the retirement savings of the baby boomers, who will be spending their lifetime of savings, and get marginal benefit from the elimination of income tax.

Then you are sadly mistaken. Most invested retirement assets are sitting in IRA's and 401(k)'s, 403(b)'s, TSA's (why in the hell do we have to have so many %$^%$%plans anyway?). So your theory is kaput from the start. All of these plans would lose their future tax liability. The greatest windfall of the FairTax plan.

[GregoryFul]

All of these plans would lose their future tax liability.

Not true - these assets would be taxed at the Fair Tax rate when consumed by the retirees, a rate that would probably be more than the retirement income tax rate.