[JTHomes]

1. Prebate is socialist

2. pre-earned/saved money is re-taxed when plan is implemented

3. tax rate is way too high

Actually, I don't like the rebate part of the plan. I think the poor should pay their fair share too, maybe just at a lower rate for necessities. Tax rate is too high, true, but is also too high now. At least people would see more directly what their government costs them. I think though that the benefit of no income tax on your tax deferred savings and your capital gains would balance things out for most people.

[toast]

I don’t get the prebate.

Fair tax is supposed to relieve us from the need for the IRS and reporting our income to the government.

How are they going to determine what the prebate should be if they don’t know what our income is?

[Filo]

I think though that the benefit of no income tax on your tax deferred savings and your capital gains would balance things out for most people.

I disagree. My savings are already fully taxed - the principle, not the interest.

Why should I have to pay 30% in additional taxes for the privilege of using my money?