[Vinnie]

An income tax deduction was taken for contributions to most of these plans

True, but what about Roth IRAs, any stocks, mutual funds , savings accounts that you have been taxed on already?

As for your other point about the embedded taxes on manufacturing and that savings being passed on to the consumer, I don't believe it.
How are we, the consumer, to know whether we are benefiting from those 'savings'? We have no way of tracking as to whether we are getting gouged.
How is the consumer to possibly know how much the tax is on the amount of steel, plastic, leather used in the manufacture of a car for instance? We have to take the word of the manufacturer

IMHO any 'savings' would be minimal.

Don't get me wrong, there are points I like about the Fair Tax, esp. many folks that get around paying income tax would now be contributing( love that pc word).

[Man50D]

True, but what about Roth IRAs, any stocks, mutual funds , savings accounts that you have been taxed on already?

Taxes paid on anything prior to implemetation of the Fair Tax would not be rebated. No newly implemented tax system could promise a rebate. Congress would not have enough money to run the government.

As for your other point about the embedded taxes on manufacturing and that savings being passed on to the consumer, I don't believe it. How are we, the consumer, to know whether we are benefiting from those 'savings'? We have no way of tracking as to whether we are getting gouged. How is the consumer to possibly know how much the tax is on the amount of steel, plastic, leather used in the manufacture of a car for instance? We have to take the word of the manufacturer.

The consumer will know how much the tax on a product or service because business to business taxes will be eliminated under the Fair Tax. The only tax will occur at the final stage of production, which will be the tax you pay when you make a purchase.