[Man50D]

Idiocy.....the Fair Tax would DESTROY RETAIL!! NO ONE will pay 24% tax on furniture, jewelry, etc

The idiocy is not realizing The Fair Tax will abolish hidden value added taxes(VATS)as business to business taxes will be abolished. Compliance costs will be reduced. Consequently prices will drop by approximately the amount of the Fair Tax rate. The result will be prices remaining about the same as they are currently.

You also have not factored in people will have more purchasing power since they will have more money in their paychecks. More money will give people the opportunity to spend more.

[Suzy Quzy]

sorry.....that won’t happen.....and the mortgage deduction will NEVER go away.

[lucysmom]

The idiocy is not realizing The Fair Tax will abolish hidden value added taxes(VATS)as business to business taxes will be abolished.

You mean those VATs that don't exist in the US at the federal level? How does the FairTax eliminate what doesn't exist?

Another FairTax lie.

[robertpaulsen]

"Consequently prices will drop by approximately the amount of the Fair Tax rate."

They will drop or they can drop? Big difference. There's nothing in the Fair Tax legislation that forces a domestic manufacturer to drop his wholesale price 23%, is there?

Which brings us to foreign manufacturers -- they won't be able to drop their prices at all, will they? (Not without cutting into profits.)

Now, I don't know about you, but just about everything I buy is imported. Which means my costs just went up 30%.

Hey, I got an idea! Instead of the Fair Tax, we leave the current tax system in place and simply tax imports at 30%! Same net effect, right? Think of the additional revenue that will be raised!

And think about where that revenue is coming from! Us!

[robertpaulsen]

"You also have not factored in people will have more purchasing power since they will have more money in their paychecks."

I've read your posts. I know you're smarter than that.

Now, if you want to claim that the current hidden taxes will be used to reduce prices 23% before the Fair Tax is added, I'll give you that for sake of argument. But "more money in their paychecks"? Save that for the ignorant masses.