The current tax system is based on debt and penalizes savings.
The Fair Tax encourages savings (saving is tax free) and therefore encourages the resulting investment.
If you are a saver, changing to a tax system that encourages savings is an advantage that more than offsets the tax liabilities of consumption.
Add in your ability to engage in tax avoidance - buy used, buy less and don’t get tax (and these are things that savers do anyway), and the Fair Tax offers a huge advantage to savers.
It is a tax system DESIGNED for savers.
“It is a tax system DESIGNED for savers.”
But it screws those who have been savers for decades and now want to live off that savings. The tax man took money from me as I saved and now a new crop of tax men want to take it from me a second time. It was NOT “DESIGNED for savers”.
This is the upside of the Fair Tax to me. It is tax free to save. However, my concern is the rebates to households. If the IRS is abolished, then how do they administrate sending checks to all households on a monthly basis when there a a large number of errors in the distribution of SS? I don’t like the dependence on government to send all households checks. Why collect money and then pay to give it back?