Wrong. Assuming for this excample that the $18,000 of the deductions are going to the Federal Government as taxes of one sort or another (IncTax, Fica, etc. The FairTax is implemented, the Feds no longer takes the $18,000 -- your take-home pay is now $98,000.WTF? Are we supposed to take this as anything near credible? Is that Fairtax accounting? Nothing you said adds up/makes sense...
There's a couple thousand dollars not accounted for there
http://www.fairtax.org/site/PageServer?pagename=about_faq
...and study the Questions and Answers -- and the whole site sections.