What is the Fair Value and Fair Price? What is the main difference between them?

Answer 1

They are the same.
Fair value, also called fair price, is a concept used in finance and economics, defined as a rational and unbiased estimate of the potential market price of a good, service, or asset, taking into account such factors as:
relative scarcity
perceived utility (economist's term for subjective value based on personal needs)
potential risk/return characteristics (i.e., for a tradable asset)
replacement costs, or costs of close substitutes
production/distribution costs, including a cost of capital

Answer 2

The tax preparation workers, accountants and attornies along with the IRS would have had a cow. Just the extra money saved by the poor by not having to pay someone to do their taxes would probably make up for some of the "regression". After all, they don't spend much anyways. A person making 20,000 dollars a year spends only 5000 dollars on taxable stuff and that comes up to a whopping 300 dollars. Wow, what a burden on the poor :/