Ayup, there's a lot to the FairTax, but if you head down all the rabbit holes, it is amazingly well thought out.
My family has always been in retail until recently, so I too have that mindset, and it still has me convinced. Now that my family is doing import/export, I had to look at it from that viewpoint... and I'm still convinced.
The hardest time period, IMO, will be the transition. People will either hoard their money for a while, or go on a spending spree when they see their bank accounts swell. But after at most a year, I'd expect things to be pretty much just as they are now in retail.
And another thing to think about - you'd have an *advantage* over many retailers - your goods are luxury consumables. Since FairTax has no sales tax for used goods, it encourages people to buy used items... but yours can't be. ;)
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Re: Wow, I totally Agree
Date: 2004-10-19 04:17 pm (UTC)My family has always been in retail until recently, so I too have that mindset, and it still has me convinced. Now that my family is doing import/export, I had to look at it from that viewpoint... and I'm still convinced.
The hardest time period, IMO, will be the transition. People will either hoard their money for a while, or go on a spending spree when they see their bank accounts swell. But after at most a year, I'd expect things to be pretty much just as they are now in retail.
And another thing to think about - you'd have an *advantage* over many retailers - your goods are luxury consumables. Since FairTax has no sales tax for used goods, it encourages people to buy used items... but yours can't be. ;)