The “Fair Tax” makes a number of very unrealistic assumptions. Never mind the 23 versus 30% arguments, the concept assumes that business will reduce prices exactly in line with the reduced taxes. B.S.!! Do you really think that your Doctor, Lawyer, Other Services Providers and Product Suppliers are going to do this? Why? As a retired Corporate Senior Executive I can assure you that it will not happen. Businesses with low profit margins will utilize the funds to improve their profitability and increase their ability to compete with lower cost international firms. In addition, the citizens who have been responsible and saved money for their needs and have already paid burdensome taxes on those savings, will now be taxed again when they need to spend their savings. What in the world is fair about that. This is an utterly stupid concept.
