What literature? Give me a link.
NIPA tells you consumption spending is slightly over $8 Trillion.
IRS statistics tell us Business Taxes are under $200 Billion and 1/2 of SS Tax is about $350 Billion. Nobody disputes this, so I can only find about 6.8% of taxes which are hard costs. I try and try and try to discover where the remaining $1.85 Trillion of savings are so business can keep prices the same, but they refuse. The only thing I haven't accounted for is compliance costs, which will only be a small fraction of that. If they can't come up with the rest of the savings, the only conclusion has to be prices will go up substantially under the Fair Tax (which any honest person already knows).
Separately, I would support the replacement of our income tax system with this consumption tax even if prices changed.
But the overall tax collection remains constant AND the tax base is made larger... they'll be more people paying tax.
If you have a pizza party with 18 people for $90, you could have 9 people pay $10 each. Alternatively, you could broaden the base and have 18 people pay $5 each.
If you really want to see what the remainder of costs that will be reduced or eliminated, do a simple search on google or here on FR. I'm not going to spend my time doing what you could do (but refuse).
IRS statistics tell us Business Taxes are under $200 Billion and 1/2 of SS Tax is about $350 Billion. Nobody disputes this, so I can only find about 6.8% of taxes which are hard costs. I try and try and try to discover where the remaining $1.85 Trillion of savings are so business can keep prices the same, but they refuse. The only thing I haven't accounted for is compliance costs, which will only be a small fraction of that. If they can't come up with the rest of the savings, the only conclusion has to be prices will go up substantially under the Fair Tax (which any honest person already knows).
Worth repeating.