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That's why Linder calls the FairTax the "tax on accumulated wealth" and he and Boortz don't understand why liberals aren't all for it. Your problems with the FairTax are all valid points.

Don't be expecting the FairTaxers to listen to anything logical though, logic exposes the FairTax for what it is, a double-counting scam.

In a nutshell - Everyone who has already been taxed at the highest rates, managed to accumulate some 'wealth' in liquid assets, and collectively pay nearly 95% of the current tax burden on income, obviously have a propensity and a greater capacity to spend (consume) to maintain their lifestyle. This is exactly what the FT is banking on. Talk about an out-of-control wealth redistribution plan...

50%-60% of the after-tax wealth spent by the upper income levels goes toward reinvestment in businesses that create and maintain jobs and payroll for those 'working their way up'.

Once, Twice, Three times screwed.

Once again, one of the income tax supporters weighs in.

You do not seem to understand that the existing tax system also taxes "accumulated wealth" but in quite a different manner - and in a way that is even more punitive that the voluntary consumption payments under the FairTax and allows no comparable tax free income provision as does the FairTax.

The income tax measures taxing accumulated wealth now are the confiscatory measures such as the estate and gift taxes and for the income tax itself not only some very high marginal rates but the imposition of what amounts to an additional tax on everything one spends (some of which would not be taxed under the FairTax) in the form of the hidden tax costs embedded in prices of EVERY thing purchaased (plus the effect of having to earn more originally to spend that sum of money).

So trying to pretend that one tax system taxes "accumulated wealth" and the other does not is certainly ill-informed as well as disingenuous. They both do.