Just so you'll know I have read virtually every FairTax thread for about two years now. You have recently made the claim, and you make it continually, that the FairTax will create instant inflation of 30%
Since that piece of startling information would be welcome fodder for any and all resistance to the FT, I thought it would be helpful to see the opinions of some economists, such as Gale who is very much against the idea, expressing the disastrous results of such inflation.
Immediate 30% inflation is your claim. That is big news. To an economist, it would be the equivalent of meltdown at the Federal Reserve.
Since it is is such an extroadinary number and would have the effect of taking America to third world status immeditately, I thought surely that some anti FT economist would have been all over it.
That is why I asked you to back it up.
So far the only place it has been mentioned is in your posts. Aside from the sound of crickets chirping is there anything else?
I've said on this very thread that prices would go up about 18-25%, and explained why. And I've said that dollars saved after-tax would therefore see a deflation in value of the same amount. Do you dispute that this would happen under the FairTax at least initially?