That's not what the Fair Tax folks claim. They claim when the income taxes disappear cost of goods to businesses will be lower and businesses will still continue to charge $1 for that milk with the 23 cent tax (that's how they get their 23%) coming out of that. It is claimed the tax will have no effect on prices.
I think most here can see the problem with that previous paragraph!
Let's not forget the "prebate". This is a government check that everyone will receive to cover the taxes on what the government deems to be the taxes paid on the necessities of life. Great... Make EVERYone a recipient of government largess!
A simple flat tax was a better idea, but that has no support right now.