I have not read anything about that bill. Does it have a provision for expense deductions?
There are no deductions against income. The Fair Tax is a consumption tax. You pay the tax at the point of sale for new items. The Fair Tax does not tax twice. Used items will not be taxed since the tax has already been collected. People will also be issued a monthly prebate check to cover the tax on necessities up to the poverty level.
You can read more about The Fair Tax at
www.fairtax.org
The Fair Tax does not tax twice.I'll bet that, if anything like it ever passed, after congress got through with it, what they would call "Fair Tax" would include double taxing, and that might not be the worst thing about it.