[lewislynn]

What does any of that have to do with me, exactly?

Is any of that supposed to make sense to anyone but you?

LET ME ACCUMULATE WEALTH. PLEASE!!!

Let you? Who's stopping you? If you're a loser and don't know how to accumulate wealth without an act of Congress that's your fault. The opportunities for wealth are endless. If you're waiting for Congress to act, you lose.

[groanup]

Just as I suspected.

What does any of that have to do with me, exactly?

It has everything to do with you unless you're one of those trust fund babies living off of your muni's.

Who's stopping you?

The 25% of my income that is confiscated from me before I can: A. invest it, B. spend it, or C. give it away. That's who.

Once again, I ask you, how would you tax the citizenry? On their income or their consumption. What do you want to encourage? Savings or investment.

Or are you one of those people who think that gov't spending is an "investment"?

[pigdog]

Ah, but it's much easier to do for most people under the FairTax since income is not taxed, nor savings, nor investment nor expenditures such as mortgage and other load payments such as credit card debt, political contributions, education tuition/student loan payments, state and local taxes including property taxes, money in or income from savings accounts, stocks and bonds, donations to church or charities, political donations, purchases of used goods - and other things ... all in the list are not taxed.

Having those things not taxed helps reduce your effective FairTax rate considerable which you'd see if you were to use the rate calculator linked to earlier.

[Mom MD]

no, but it is very difficult to accumulate when you are in the higher tax brackets. My husband and I are by no means rolling in it, but we just make the top tax bracket. RIght now our marginal tax rate is north of 50%. I recently had to send one of my kids to an expensive school (and college is coming up).
That means every extra dollar I need to help my family, I have to make over $2 dollars just so I can give my "fair share" to the government
I am tired of it, and we are cutting back on our income as much as we can afford. It does not pay to work. Your reward is a higher tax bill and others enjoying the fruit of your labor. And this isn't even April -- don't even talk to me then.
/rant off