FairTax.org has posted some Frequently Asked Questions with answers that really explain how the FairTax will affect each and every American.
You can find FairTax FAQs here:
One question answered is: "Does the FairTax rate need to be much higher to be revenue neutral?"
Answer: "The proper tax rate has been carefully worked out; 23 percent does the job of: (1) raising the same amount of federal funds as are raised by the current system, (2) paying the universal rebate, and (3) paying the collection fees to retailers and state governments. Unlike some other proposals, this rate has been independently confirmed by several different, nonpartisan institutions across the country. Detailed calculations are available from FairTax.org." http://www.fairtax.org/site/PageServer?pagename=about_faq
More questions answered at FairTax.org:
What is taxed?
Exactly what taxes are abolished?
How does the rebate work?
Why not just exempt food and medicine from the tax? Wouldn't that be fair and simple?
Is the 23% FairTax higher or lower when compared to the income taxes people pay today?
Does the FairTax rate need to be much higher to be revenue neutral?
How is the Social Security system affected?
How does the FairTax affect Social Security reform?
Is consumption a reliable source of revenue?
Click here to find out more: http://www.fairtax.org/site/PageServer?pagename=about_faq