If you really want to know and aren't just yanking our chain, go to http://www.fairtaxvolunteer.org/smart/tax_system.html and look at the very bottom Table 2.
the link won't work, maybe the site is overloaded. I will look into it.
I am not yanking anyone's chain, I just want to understand this so I can support it and explain it to people so they believe me, or I can logically discuss why I am against it.
If it is as it sounds and we can get the current costs of compliance to pay for the whole FedGov, while saving every citizen of the US including people with no income a lot of money, of course I am for it.
What I understand so far is that the FT people are claiming that the compliance money currently spent is enough to fund everything without asking the taxpayers to fork over a nickel. Everything we buy retail will cost the same as it does now, we will pay no taxes to the FedGov, and everyone gets a check every month to boot.
It sounds like a free lunch but if it works, I am all for it.