The Fair? Tax

This is an off the top of the head rant so please bear with me. Th other day I was listening to a right wing nutjob hawk the proposed Fair Tax Initiative. The suggestion is that we do away with federal income tax and institute a 23% national sales tax in it's place. Every purchase would be taxed without exception, food, medicne, cars, all of it. This would supposedly stimulate the economy to no end. The nutjob on the radio repeatedly stated that the economy would grow 10% in just the first year. I'm calling BS on that just because the right hasn't been correct about anything in at least 7 years.

Afetr thinking it over I have two thoughts on the Fair? Tax, It seems that it is much more fair to wealthier people. The lower income and middle class families tend to have to spend everything they make to get by. This means you would be paying 23% in taxes, not counting state taxes and taxes on gasoline, property taxes and such. people with higher income do not have to spend everything they make to get by and enjoy savings and investment accounts that earn money. Completely untaxed money at this point. People are people and the wealthy don't use more toothpaste or toilet paper than us lowlives so a large portion of their income would go untaxed. Doesn't sound very fair to me.
I also like to collect antique glass. I buy pieces some I keep for a long time some I resell after just a short time. If I have to pay 23% over cost for a collectible I'm never going to be able to sell at a profit and probably not even be able to break even. Most collectibles do not appreciate  23% in the short term. I think this tax proposal would shut down the collectibles market.
My last thought is that many wealthy - famous people I know don't pay for a lot the the more expensive tems they enjoy. I know several professional athletes that are given free use of automobiles with the agreement that they will steer cutomers to the lending dealer. Among business owners there is an underground economy of trades, my goods for yours. These would be completely untaxed.
I do think it is high time the tax system is overhauled. I don't think the Fair? Tax is the way to go.