[AFreeBird]

Hurt: Those who have saved in the past in non-tax deferred accounts. They paid income tax on the money before saved and will have to pay again when spending it.

Huh? Non-taxed deferred, but taxed before saving?

This makes no sense.

My 401K was all pre-tax; off the top of my gross. It means I was betting on a better tax position when I retire.

Under fair tax, I only pay taxes on that retirement fund, when I spend it on new goods or services.

I figure that's a better tax position.

[TexasTransplant]

>>>My 401K was all pre-tax; off the top of my gross. It means I was betting on a better tax position when I retire<<<

We all bet, take chances I sure hope that your bet is the one that pays.

PS I never bet on Politicians or Taxes both are black holes of unending consumption and endless want.

[KarlInOhio]

Huh? Non-taxed deferred, but taxed before saving?

This makes no sense.

Non-tax deferred = Roth IRA and savings/investments outside of retirement accounts. You pay the tax, save what's left and pay again when you spend it.

[hripka]

The 'FairTax' hurts Roth IRAs, and in fact all accumulated wealth, since it taxes this wealth when it is spent. And the wealth is spent eventually. Welcome Double-Tax!!

Boortz glosses over this topic on pg. 169 of his book. I paid a BIG chunk of money in income taxes to convert to a Roth IRA after 1998. Now I am supposed to roll over and pay an additional 23-30% sales tax when I spend it?? (I actually figure the rate to be 34% BEFORE the prebate.) If businesses can have an inventory-on-hand transition rule (pg.120-121) can't Roth IRA owners have an account-on-hand transition rule?