Neal Boortz puts a one-two knockout punch to the Kerry idea that the Fair Tax plan would result in the largest ever tax increase on poor and middle income Americans. (From TownHall.com)

I have my own questions about how it would affect some purchases – particularly big ticket items – but it’s clear that Sen. Kerry hasn’t done his homework. Mr. Boortz debunks Kerry and at the same time gives us an intriguing peek into how the Fair Tax actually works.

I don’t know about you, but I want to know more. It seems like the big losers are the accountants and the rich, to be honest. Wait, this just in… John Kerry is rich? (Sorry, we thought you knew.?ed)

UPDATE: Well, I obviously didn’t get a degree in journalism. Mr. Boortz didn’t show us why Kerry hasn’t done his homework, but rather simply that he hasn’t. Consequently, I’ve fixed that first paragraph to match reality.

MORE: Wacky. The day after I post this, Instapundit notes the other side of this story. If nothing else, it raises a concern as to how the Fair Tax affects (currently taxed) savings accounts. I’m not convinced at the magnitude of the loss, but it’s worth exploring further.