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I do not expect that I'm particularly unusual in my position. I'm 58 years old, have worked in a middle class job most of my life, have accumulated what I expected to be, savings that will allow me a comfortable 20-30 years of non-income earning (retirement) life, should I be able to buy things at only inflation adjusted prices through those years. Get it stupid! A whole life, you narrow minded retard. A whole life. And there are plenty of like persons situated. You take 30% of my savings and commit me to poverty! Do you get it, stupid! I will strenuously fight against this gross robbery. And should such a travesty be enacted, will leave this country for better climes.

Maybe I can get this in before your post gets pulled

In what form are your retirement savings? Interest accounts at banks? Your interest becomes tax free.

Mutual funds? All of the appreciation becomes tax free.

Stocks? If they are long term apprectiated you no longer owe capital gains taxes.

Real estate? No more capital gains, even on rental property.

Untaxed retirement accounts? They all become tax free.

Corporate bonds? Interest becomes tax free.

Muni bonds? Since the yield on muni's will float up to the corporate level you will lose pricipal value if you sell them before maturity. In that scenario you could be worse off. In most other scenarios you would benefit.

From my post #452:

"Just bitching about one aspect of something isn't sufficient. You have a few of those who presently profit in some manner by the present system, but none have been able to offer any valid improvements for most taxpayers as does the FairTax and I doubt you'll do so either but merely - like those others - descend into the attack only mode in your efforts to defeat the FairTax. "

And now we see from this poster exacly what the above excerpt was talking about:

"... Get it stupid! A whole life, you narrow minded retard ... Do you get it, stupid!"

It will be interesting to see if the Mods continue to allow this.

".. accumulated what I expected to be, savings that will allow me a comfortable 20-30 years of non-income earning (retirement) life, should I be able to buy things at only inflation adjusted prices through those years ..."

I'm perplexed as to why you would go 20-30 years with a non-income earning life I guess. It seems inexplicable. If you have enough salted away to spend for 20-30 years, why not put it to earning in savings and/or investments and use the proceeds to live off of?

For example let's say you've planned for a 25 year retirement spending $50,000 per year. With no income this would mean you've set aside 25 x $50,000 = $1,250,000. Even as little as a 5% return would result in $62,500 per year or the $50,000 with another $12,500 each year added to savings. You might very easily do better that the 5% without great risk to your capital.

Perhaps I'm missing something. Could you explain ... and please knock off the personal attacks.

And BTW, have you used the Calculator to assess your effective tax rate???

Several times through this thread, you've spoken of yourself as a "middle-class retiree" and seem to say that you plan to live off of your accumulated savings for 20-30 years comfortably with no income other than the savings.

This doesn't help see what your tax situation would be under the FairTax an apparently you don't wish to use the calculator for some reason.

Is the above a correct description of what you're said? If so, what would you consider to be a comfortable amount of money to spend over the next 20 to 30 years? Are you married? With/without children? Do you have any other income after you retire? If so, who much - or is it only S/S?