Tell him that teenagers shouldn't be writing tax code
This.
Also, the whole point of the FairTax is to create a simple tax code. Under your friend's plan, money is taxed over and over again. For instance, a person earns income through his salary and pays a payroll tax. He then invests this income and makes a profit, but has to pay a capital gains tax. This money is then used to purchase goods, so he must pay the sales tax. He then dies and leaves the remainder to his children, paying the estate tax. His children will then be taxed when they use the rest of the money to buy goods.
It just makes more sense to tax all of it at once. After all, the point of money is to spend it, so why not tax it when it is spent? Let people transfer and invest their money as they please; it will all be taxed eventually.
