I already pay over 11% of my income in property taxes. I am retired on a fixed income. If I have to pay 23% on every purchase, will they freeze property taxes, and drop all Fed & state taxes on fuel???
With the price of gasoline, I only drove 3111 miles this past year.
You'd have to pay 30% on each purchase. And if you sell your home now, you wouldn't have to pay capital gains taxes on a profit of $250,000 ($500,000 if you're married) but under the FairTax, you'd pay 30% on the gain when you spent it. And 30% on the original purchase price when you spent it.
Sounds great for you!