[Always Right]

Personally, I see this scheme as a way for the "going broke fast" government to exploit the retirement savings of the baby boomers, who will be spending their lifetime of savings, and get marginal benefit from the elimination of income tax.

Pointing out real flaws in their fairytale is not allowed. So what if retirees have to pay taxes again on savings that have already been taxed. They have economists who they pay to spin this so it is a good thing. Why don't you believe what their paid for shills tell you? The fairytax has no flaws.

[GregoryFul]

But it could be corrected - if only the flaw was acknowledged and accommodated. But I see here that proponents of the FairTax don't want to go there. It could be the trillions of dollars in after tax wealth that they don't want to compensate for, that would make their scheme unaffordable.

It has become common in this country to ignore freedom and justice and cloak outright blatant theft of rights, freedoms, and property in deceptively comforting words, "for the children", "FairTax", "Social Security", "Medicare", "Patriot Act", "Medical Privacy Act", etc.

Unfortunately, there is an ignorant hoard out there that falls for this cynical pretense.

[pigdog]

"They have economists who they pay to spin this so it is a good thing. Why don't you believe what their paid for shills tell you? "

So does this little blast then mean that the anti-FairTax economists such as William Gale and Bruce Bartlett DO NOT get paid???

Or perhaps you're trying to say it's OK for work done to be paid for so long as someone who opposes the FairTax is the one getting paid??? It's not hard to figure out that sort of reasoning.

[GregoryFul]

I figure that there are at least 25 million households that have near $1,000,000 in after tax assets. Heck, a computer operator from my company just retired last year with more than a million $ in retirement savings, a significant portion of which was pre-tax income savings. And it has been a number of years since "The Millionaire Next Door" (1998) has been published. Lots of us quiet guys doing the things that accumulate (actually) modest wealth. Given my guess, that is 25 x 10^6 x 10^6 of assets = 25 trillion, a large portion likely to be spent before the deaths of those who own those assets. Lets say 50% is spent, conservatively. So we are talking about 12.5 trillion that will be subject to a second, onerous tax (30%), thus the government grabs another 3.75 trillion $ from the old guys in this society under the FairTax scheme. Not bad for a day's work.