While the positives of the FairTax Act sound very nice, I believe the negatives outweigh it. Of particular concern to me is the scrapping of waivers and deductions that the middle and lower class primarily use, namely credits on child care and education and the ability to deduct interest payments on mortgages and student loans. The "prebates" included in this bill will not make up for this. I also believe that the rationale behind this bill is flawed. By raising the sales tax and making things more expensive, you discourage spending and this plan is dependent on people spending just as much or more than they do now. Also, a decrease in consumer spending could result in an economy that grinds to a halt. Lastly, I think it is unlikely that the wealthy will increase their spending at all. They will just continue to invest (tax free) that money just as they do now.