Why would my house be taxed under the Fair Tax? It was fully paid for when we built it.
We don't buy a new car every year; nor every three or four months,as someone on this thread claimed the people he knows do.
So yes, it would be just food and services that I would have to pay tax on. Everything else, I can call an "investment", as it has been explained on this thread ; even new books, since I'd make certain that all of them were first editions.
Now, it is probable that those posting here, who favor this scheme, don't know what they're talking about. And since the Fair Tax hasn't any real chance to be realized in my lifetime, it really doesn't matter.
**gasp**
No!
That sort of scheme would certainly not past the smell test. Buying some already-used clothes that had some sort of historic or museum-quality value (G. Washington's riding breeches) might very well qualify, but trying to purchase new clothes claiming they are an "investment" is a silly justification and would no doubt not be honored by any seller of same since it would be that seller rather than you who would be liable for the tax should it come to that. It does not matter that YOU "consider them an investment" at all. I doubt that you've been lied to but it may be that whoever told you that didn't grasp your little "consider it as an investment" trick.
Keep in mind you must first buy them as new and at that point they have no established value other than their retail value (with 23% of that being the Fair Tax). The stunt of "calling everything as an investment" is clearly beyond the pale and I'd think you'd realize that if you had read the FairTax bill or even spent a bit of time on the FairTax website. You can "call" it anything you wish. Not paying a normal applicable retail sales tax on it is another thing entirely.
In fact, even common sense should tell you that.