[phil_will1]

"But its not so good if you have accumulated wealth that just took a 17% or so dive."

But if your accumulated wealth is in equities which increase substantially in value during the first two years of the FairTax, that pretty much wipes out any differences in how much you pay for bread, milk, socks and shoes during that two years, doesn't it?

Here come the attacks from the SQLs who will accuse me of promoting the FairTax as a cure-all when I point out another benefit. Flame away, guys, I have my asbestos boxers on!!

[RobFromGa]

But if your accumulated wealth is in equities which increase substantially in value during the first two years of the FairTax, that pretty much wipes out any differences in how much you pay for bread, milk, socks and shoes during that two years, doesn't it?

I have no interest in debating what the macro-economic effects of this plan will be on the future equity markets until we are able to agree that the plan as described is based on a fundamental misrepresentation regarding the effect on immediate retail prices.