Well, I had something to say. I just had to figure out what it was.
Okay, you already know this but I thought I'd weigh in. The notion, or mind-spun fabrication about people taking home 100% of their pay cannot be done and also have prices drop 22%, supposedly that being fraud is a mind-spun fabrication. As you know, it's a lack of clarity ny the authors.
To be fraud, it must include the intent to deceive. For example, if a first grade teacher asked a student what day of the week today is and the student replies "Thursday", when in fact it is Friday", the teacher would not say the student lied or intended to deceive, rather, that the student was mistaken.
Two scenarios.
1, After the FairTax has been implemented employees take home pay is the same as it was under the income tax. Retail prices decrease 22%. The 23% FairTax brings the price back up to100%. It's a wash. Then monetary benefits accrue when a person or family receives a monthly prebate check, when they buy used goods and capital gains are not taxed.
2) After the FairTax has been implemented employees take home 100% of their paycheck. Retail prices are reduced equal to the amount that employers pay income tax, matching FICA, and paper-shuffling income-tax compliance cost. Prices reduced about 7% to 9 %. For a person paying 15% in federal tax and FICA, that take-home pay increase combined with 8% retail-price reduction brings the the price back up to100%. It's a wash. Then monetary benefits accrue when a person or family receives a monthly prebate check, when they buy used goods, and capital gains are not taxed. The taxed dollars they save under the income tax no longer has taxes removed prior to being saved. Thus they have more money to save.
Between the two the market for labor will set wage levels which will effect prices. It seems to me that producers with union employees will reduce their prices less than producers that have non-union employees.
I imagine I would pay about the same amount of tax under the Fair Tax plan unless I choose to change the way I spend my money, but I would at least save $300 on income tax preparation cost.