[Man50D]

Is there a Cliff’s Notes version for the lazy intellectual?

I suggest reading and absorbing a little bit of the bill at a time. The short term solution for what you describe is probably the FAQ section. The link is below.

Fair Tax FAQ's

One thing I would be concerned with is my real estate investment. Without the tax advantages it is less desirable and, of course, that would at the same time make it less marketable.

It may not be taxed if you purchased it for business purposes or it is used(had a previous owner). Also keep in mind the rebate covers the tax on necessities, including shelter, up to the poverty level thereby reducing your effective tax rate. I suggest you look at Fair Tax FAQ's 1-3.

[A_Tradition_Continues]

It Appears "Fair Tax" is based upon the assumption retail prices would decline due to pass along taxes we currently pay being eliminated. Who is going to stake an entire tax system on assumptions of lower prices by end sellers. Historically, that just doesn't happen. Additionally, how do you handle state, county and city taxes? What about Special District taxes? Are you willing to have 23% added to your healthcare premiums? Are you willing to have that $20K car cost you an additional $4600.00 up front? How many tens of thousands of federal employees will it take to operate the monthly rebate scheme?

Sorry, this just doesn't make a lot of sense to me.