No worries. I like the fair tax because it only targets those spending money, regardless of how they earn it.
If you’re in a position to buy luxuries or the latest iphone, you get taxed. If you’re trying to save, and not spending money, you aren’t taxed.
Lowest income earners still have the latest gadgets, because our current tax system is based on earned spending potential, not spending or lifestyle habits. They get a break while the actual earners pay their way.
The problem is for those who have already saved. They've paid taxes on what they earned and if we implemented a consumption tax they would pay again when they spent those savings.
A consumption tax may make sense in some circumstances but we're way past the point where we could realistically transition to one.