[sportutegrl]

According to WSJ, the "fair tax" amounts to a stealthy double tax on boomers retirement. It will force boomers to pay taxes again on already taxed Roth IRA savings. I prefer Steve Forbes 17% flat tax proposal. It hits the blue staters the hardest.

[Phantom Lord]

It will force boomers to pay taxes again on already taxed Roth IRA savings. I prefer Steve Forbes 17% flat tax proposal. It hits the blue staters the hardest.

So what. And those with 401(k)s and other pre-tax retirement plans will not have income taxes taken from them. And regarding the flat tax, remember, our current income tax code started as a flat tax on only very few people and it has grown into the monster it is today.

[John SBM]

In other words, what's good for you is what's good for the country. Get a life.

[pigdog]

And in addition to Phantom Lord's #9, there's also the "little problem" of these mythical "boomers" (who in fact are not all that numerous and many of whom have nest eggs in the thousands or tens of thousands at best rather than many hundreds of thousands or millions).

They'll all pay a goodly chunck of those savings in the form of hidden taxes - the tax costs embedded into the prices of everything they buy; they're hardly "home free" from taxation.

[Mind-numbed Robot]

According to WSJ, the "fair tax" amounts to a stealthy double tax on boomers retirement. It will force boomers to pay taxes again on already taxed Roth IRA savings. I prefer Steve Forbes 17% flat tax proposal. It hits the blue staters the hardest.

You are right. What they don't tell you is if the we keep the present system the government intends to give back to us all that money we have already paid in taxes. (Just like God is going to give back my days of youth.) Point being, what is gone is gone. Why impede progress moaning over past mistreatment?

Add to Forbes 17% Flat Tax the 15% SS and Medicare tax withholding, which it keeps but the Fair Tax doesn't, and you get a lovely 32% without all the ancillary benefits of the Fair Tax.

[Sprite518]

LOL! I am guessing you read that from the opinion pages? Nevertheless, what is the percentage of boomer's that have all their money after tax in 401s and IRAs? I imagine it is quite low... I think it comical that you would prefer the Flat tax.. Let see the fair tax eliminates ALL taxes. The Flat tax still leaves in every other tax. For instance, capital gains, ATM, etc.... Your nuts you think you or the country would benefit more from a Flat Tax.