The Fair Tax

This post is about HR25/S25, which is legislation to enact the "fair tax." I ventured onto this link, fairtax.org, which is a grassroots and non-partisan group that wants to elimiate the current tax code. Instead, the tax would be replaced by a national sales tax. It provides a "prebate" to ensure no American would over pay their fair share. They also favor repealing the 16th amendment.
The Fair Tax would place a sales tax of 23% on items of sale. Taxes would no longer be income based, but on how much you spend. This tax would replace all current federal taxes, such as federal Income, Social Security,and Medicare.
The fair tax would also eliminate the IRS. That would not make me lose sleep.
There are also provisions for people in Federal Poverty Guidelines to exempt or refund their money they paid into the tax.
I am going to do some more research on pros and cons of the fair tax. I will post on the benefits followed by the negatives of the fair tax.