[Nathan Zachary]

"Let's not lose sight of the fact that Mr. Will is correct about the transaction details: If a retail transaction for a house occurred and the sale price was $1,000,000, then the buyer would have to pay $298,700 to the federal government for the FairTax on that transaction."

It would all get rolled up and be included in Mr. Wills mortgage anyway, just like car tax is included in a car loan.

It's just the tax is more visible, and that bothers people for some reason. They'd rather not see it.

A creative Realtor will advertize the house as- "Big nice house 1,298,700- we pay the tax!" That will make those people happy.

[lewislynn]

A creative Realtor will advertize the house as- "Big nice house 1,298,700- we pay the tax!"

`SEC. 510. TAX TO BE SEPARATELY STATED AND CHARGED.

`(a) In General- For each purchase of taxable property or services for which a tax is imposed by section 101, the seller shall charge the tax imposed by section 101 separately from the purchase. For purchase of taxable property or services for which a tax is imposed by section 101, the seller shall provide to the purchaser a receipt for each transaction that includes--

[lewislynn]

It's just the tax is more visible

At the same time it's visible it's:

Increased take home pay.
Increased purchasing power.
Government checks in the mail every month.
More money for savings.
Reduced interest rates.
Easier to save for a new house.
All the while the government is still funded as usual without a hiccup.

Where's the visibility?

[robertpaulsen]

"It would all get rolled up and be included in Mr. Wills mortgage anyway"

And if Mr. Will defaults? How does the bank recoup the $300,000 already paid to the IRS?