[Eccl 10:2]

It is regressive.

I you make $10,000 per year and I make $100,000 per year and we both buy a boat for $1,000 at say, 10% tax then we both pay $100.

That $100 is only 0.1% of my income and 1.0% of your income. That's a regressive tax system.

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That is incorrect. With the FairTax, each household gets a sizeable "prebate" up-front each month which covers necessities (though presumeably not boats as in your extreme example). The same tax rate applies to all purchases. People with lower income get all their taxes covered by the prebate.

If lower income people are dumb enough buy more than they can afford (like an expensive boat), they are screwed under ANY tax system.

[xcamel]

Naaah... it's 30% - and good luck getting the tax portion financed. (assuming you had more of a real world scenario where one purchaser paid cash, and the other needed to finance it)

[avacado]

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That is incorrect. With the FairTax, each household gets a sizeable "prebate" up-front each month which covers necessities (though presumeably not boats as in your extreme example). The same tax rate applies to all purchases. People with lower income get all their taxes covered by the prebate.
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That rebate only covers up to poverty level of living. And my ecxxample is not extreme. If you purchase any thing for $1000, then the person who makes more money pays less percent tax of their income on it.

We don't need a fair tax, we need a fair tax.

[pigdog]

Right "chew" are.