When you purchase a speculative investment, is it taxed at 23% at the time of the investment? If so, this would kill investing of any kind Hmmm .... Never considered that angle.
If you buy 100 shares of AmericanWidget stock, would the Fair Taxers want to get their 23% tax up front, guaranteed, instead of waiting to see if the investment actually makes a profit as the current system does.
I wonder what the consequences would be.
the same as after tax savings for retirement and ‘already heavily taxed’ personal assets you would plan to liquidate in retirement - you end up right back to the pre-Reagan effective income tax rates in total.