We have a spending problem, not a revenue problem
That's one of the biggest problems with the FairTax. It doesn't help spending.
Bringing the government the same amount of revenue as the current system doesn't help for two reasons.
A lot of spending needs to be cut entirely.
A lot of what remains needs to be spent at the state and local level, without giving Washington DC bureaucrats the opportunity to skim their "cut" off the top.
We don't need an alternate revenue stream equal to the current revenue stream.
We need less government! Especially at the federal level.