Would an overnight jump of 25% in prices destroy the economy?
The fair tax scheme would not be implemented 'overnight'.
Read the some of the links about HR 25. They explain it all, in detail.
How many businesses would fail during the transition period?
How many angels on a pinhead?
And how would any change in tax collection methodology solve the problem of exorbitant Unconstitutional spending?
Depending on how it was finally written/legislated, a fair tax bill, -- or perferably an Amendment, could put an absolute limit on Fed & State taxes.
If you don't buy the 22% embedded tax nonsense, the rest of it makes no sense.
How many angels on a pinhead?
Or to quote the Hildabeast: "I can't be responsible for every undercapitalized small business in America."
Fine. As long as we know where you stand, we can judge your arguments.
Depending on how it was finally written/legislated, a fair tax bill, -- or perferably an Amendment, could put an absolute limit on Fed & State taxes.
No such limits exist in the current bill. And I suggest any such limits would it completely. Or just be ignored like every other limit Congress has attempted to impose on itself.
I continue to assert that Unconstitutional spending is the root of the problem. Solve that and tax rates would drop like a rock.