Dream on, buddy.
Is it perfect? No system is, but it is a heck of a lot better than the current system which the pols use to reward favored constituencies and punish others. No worry about the Gestapo, er IRS taking your assets without court order.
Investments would be made on the simple desire to make a profit rather than be distorted by the need to avoid taxes.
IMO, the fair tax would unleash a productive era the likes of which have not been seen since before the 16th amendment.