[cappy26]

Means if the Fed prime rate is 4% and my mortgage interest is 7%,the Fair Tax would be 30% on the excess of 3% or .009 added to my interest cost each month

How about the guy that has 18% credit card rates

He would be paying 30% on excess of the prime rate of 4% or 30% on 14% or an additional 4.2% added to his 18% monthly payment

[lewislynn]

Means if the Fed prime rate is 4% and my mortgage interest is 7%,the Fair Tax would be 30% on the excess of 3% or .009 added to my interest cost each month

Actually 0.9 added, but yes, you got it.