 Opponents point to a study commissioned by the National Retail Federation in 2000 that found a national sales tax bill filed by Billy <unk> , the Individual Tax Freedom Act ( H.R. <unk> ) , would bring a three @-@ year decline in the economy , a four @-@ year decline in employment and an eight @-@ year decline in consumer spending . Wall Street Journal columnist James Taranto states the FairTax is unsuited to take advantage of supply @-@ side effects and would create a powerful disincentive to spend money . John Linder states an estimated $ 11 trillion is held in foreign accounts ( largely for tax purposes ) , which he states would be repatriated back to U.S. banks if the FairTax were enacted , becoming available to U.S. capital markets , bringing down interest rates , and otherwise promoting economic growth in the United States . Attorney Allen Buckley states that a tremendous amount of wealth was already repatriated under law changes in 2004 and 2005 . Buckley also argues that if the tax rate was significantly higher , the FairTax would discourage the consumption of new goods and hurt economic growth . 
