[John Valentine]

I think it’s a bad idea because it’s a disincentive for consumption...

That is the PRECISE reason it is a GOOD idea. The whole idea is to encourage saving (investment). That can only come at the expense of consumption.

While there are some good reasons to be concerned about the fair tax idea, this just isn't one of them. Quite the contrary - this may be its biggest plus.

[Terpfen]

The whole idea is to encourage saving (investment). That can only come at the expense of consumption.

IMO, the purpose of tax policy should not be to substantially change purchasing habits. Taxes are a necessary evil that should be minimized/eliminated wherever and whenever possible, not a tool to force people to keep their bank accounts in what some gubmint official deems to "correct."

If someone wants to blow their money, it's their decision and responsibility. Tax policy should not be used to alter that behavior.

[John.Galt2012]

I think it’s a bad idea because it’s a disincentive for consumption...

As opposed to disincentive for production???

I agree, this is probably the best thing about a consumption tax.
Other than those who are living of their trust funds (wealthy) and/or working “under the table” (illegals and criminals)have to start paying.

[1010RD]

The whole idea is to encourage...

You just lost the argument.

America is founded on individual liberty, not government encouraging anything - especially the pop idea of the day.

[Mojave]

The whole idea is to encourage saving (investment).

By screwing everyone who has already saved for their retirement throughout their lifetimes. Since the income tax doesn't tax those savings, the "Fair Tax" cultists have created this scheme to get at those moneys to help fund their "prebate" welfare scheme, the largest in history.