A fair tax is good but it does nothing to promote domestic industry like a tariff would. Both the NRST and a tariff could replace the income tax.
+1
The FairTax (NRST) is a “border adjustable tax” in that imported goods WILL be taxed at the same rate as domestic goods.
In effect, the FairTax IS a tariff, much the same as a VAT is a tariff.
Our trading partners will impose their VAT on our goods and we’ll impose the FairTax on their goods, and there will be a level playing field in respect of imports and exports.
Under the FairTax our exported goods will be much more competitive in foreign markets because the FairTax ELIMINATES the “Tax Cost of Government” (as much as 25% of the retail cost of a US manufactured good) on ALL manufactured items; US goods will be exported TAX FREE!
Our foreign trading partners REBATE the VAT on exported goods which means they are essentially untaxed when they arrive in the USA.
FairTax fixes that problem!
Our trading partners impose their VAT on our imports, and we impose the FairTax on their stuff. EVEN STEVEN!