The Fair Tax is explained clearly here, along with its effects.
As Ticker notes, both the LeftOWackies AND the RightyWackies hate it.
To me, that's a feature, not a bug.
What is The Fair Tax? First, a replacement for all Federal Taxation on incomes. Corporate, personal, FICA, Medicare, Unemployment. All Federal Taxes other than tariffs and imposts are replaced with a national sales tax.
Lots more, all food for thought, at the link. And he makes it clear that it will kill off "outsourcing."
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Taxing consumption is a much better model than taxing production.
There is, however, a risk of a black market popping up, but we have lots of avoidance now too.
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