[nopardons]

The 23% or 30% tax on everything, would wind up costing most people far more than they now pay in income tax. And there is nothing to restrict that percent from being upped later. Nor is there anything to prevent what is taxed to be altered to include even more things, at a future time.

Since the higher percent of 30, is probably what will be used, that also would make people in lower tax brackets ( forget about that prebate, it isn't enough to offset the FT's final cost!), they would automatically be bumped into a higher tax bracket and things such as bus, train, and taxi fares would rise. So would the cost of gasoline, for those who drive.

Most people don't raise all of their food. Immediately their grocery bills will skyrocket.

Yes, there will be a prebate, no prices won't come down, and people always holler when any price is raised; remember what happened with the price of gas? And just because they won't be paying an income tax, it's the price shock, when buying something, that they'll look at!

[pigdog]

You're daydreaming as well as poorly informed.

There is no "23% or 30% tax on everything". Only end consumers are taxed and only on taxable items (not everything is taxed). Many tupes of transactions are not taxed at all (busines-to-business sales, typically, for things used in making or providing taxable items).

Actually there is plenty to prevent the rate r=from "being upped" - even some of the founders of this country knew that and said do. In addition, there is the fact that "upping" the rate raises taxes on everyone and not just the select subset that paaay taxes as at present. A similar comment applies to trying to make other things taxable. The bill is very specific about what types of things are taxed.

You also seem to misunderstand that there not two tax rates; there is only one. It is 23% tax inclusive or 29.87% tax exclusive. The bill specifies tax inclusive since that is the way income taxes are sopecified. You'd do well to research the bill and the FairTax website.

And you're making the completely unwarranted assumption that prices before the FairTax was applied would remain the same as they are now. That isn't the case at all. Most economists realize that some portion of business income taxes are embedded into prices as a hidden tax and that this will be removed when income taxes go away. Your belief in prices "skyrocketing" is either caused by your own lack of knowledge or by your wish to stampede others by scaremongering.