If you add 40% to the take-home pay I'm using to pay for it, then, yeah.
Any other questions?
I was resistant to the notion of shifting our tax burden to the "fair tax," or a national sales tax, until I heard the notion of reimbursements. It was first floated by the Cato Institute, I think, and is now part of the Fair Tax proposals.
The idea is simple: figure out how much money someone at the poverty line paid in tax, and then refund that amount. The same amount to everyone. The assumption is that everyone at the poverty line spends every thin dime on necessities -- that's what the line is supposed to mean.
If you spend a lot more, you pay a lot more, and that's part of the idea. If you pay less, you might get back more than you paid, and that's part of the idea. Works for me. Bump up prices by a big percentage, and bump up my bank balance by a bigger percentage, and I can learn to live with that.
What about people who already have saved after-tax money? What do you tell them now that their saved money is worth 20-30% less than it was the day before the FairTax was made the law of the land?