Why the FairTax benefits Seniors

Americans For Fair Taxation ^

[Man50D]

Fair Tax ping!

[Principled]

The FairTax lowers average remaining lifetime tax rates.

This is only true for those who currently pay taxes. If someone is cheating now - the nrst will increase the taxes they pay! LOL

[Paladin2]

The socalled FT is NOT fair to seasoned citizens who have actually saved to take care of themselves. Saying otherwise is 0bama speak.

[chainsaw]

The UN Fair sales tax will tax the seniors saved money that has already been taxed in the past. That is when you go to purchase something it will add a 37%+ tax to the item purchased, plus the state sales tax.

Somehow, I don’t believe the politicians will ever give up the cash cow that allows the government to confiscate your money before you even see it. (payroll withholding tax)

[Man50D]

The socalled FT is NOT fair to seasoned citizens who have actually saved to take care of themselves. Saying otherwise is 0bama speak.

Much of those so called savings are taxed either as capital gains, income dividends or from a savings account. The Fair Tax will abolish taxes on those sources of income enabling them to be true methods for savings. That's straight talk.

[Man50D]

The UN Fair sales tax will tax the seniors saved money that has already been taxed in the past.

They're being taxed now on captial gains, income dividends, savings accounts etc... Not to mention the embedded corporate taxes the consumer pays in every item they purchase. That will end with The Fair Tax.

[chainsaw]

The UNFairTax ends all record keeping and income tax filings of any kind for seniors, totally insulating them from the high costs and abusive tactics of tax preparers.

The UNFairTax rebate zeros the retail taxation of necessities, up to poverty-level spending, for seniors.

double speak. A rebate denotes that you have to file a form to get your money back.

[Paladin2]

No, they are previously taxed savings now taxed as spending. To indicate otherwise is BS.

[Man50D]

A rebate denotes that you have to file a form to get your money back.

Let's see now filling out one form with The Fair Tax or continue to fill out a multitude of forms under the income tax that require every detail of personal information. Only one of the small number who benefits from such an invasive process would choose the latter.

[lewislynn]

The FairTax lowers average remaining lifetime tax rates.

This is only true for those who currently pay taxes.

Really? What would the lifetime rate of the Fairtax be?...and while you're at it what will the lifetime rate of the income taxes be?

[lewislynn]

The FairTax lowers average remaining lifetime tax rates.

This is only true for those who currently pay taxes.

Really? What would the lifetime rate of the Fairtax be?...and while you're at it what will the lifetime rate of the income taxes be?

[groanup]

The FairTax holds many benefits for seniors, not the least of which is that it untaxes withdrawals that seniors are forced to take out of IRA's at age 70 1/2.

But the anti's will be along telling us that the FairTax won't work because it unfairly taxes the old geezers.

Never mind that they are living off of the younger work force as it is.

[lewislynn]

The FairTax holds many benefits for seniors, not the least of which is that it untaxes withdrawals that seniors are forced to take out of IRA's at age 70 1/2.

No it doesn't. Even before one dime is withdrawn, whether they spend it or invest it, the face value of all their assets would be reduced 23% day one of the Fairtax. Can you say hidden tax?

Never mind that they are living off of the younger work force as it is.

Poor you, everyone but you is making out fine. But they can't do it unless they're screwing someone else huh! Like Ins. sales, tax accountants, seniors with IRA's.

[foxfield]

If someone is cheating now - the nrst will increase the taxes they pay! LOL

If someone is cheating, that someone should be prosecuted. BTW, you can tell that to Rep Charlie Rangel.

[Turret Gunner A20]

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

YAWN ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ Wakew me up if you ever find out that don't have the foggiest notion of the truth about the FairTax. Your deliberate ignorance on the subject has long since gone far beyond the stage of just being tiresome.

[longtermmemmory]

read http://www.thomas.gov

you will see the record keeping is totally false. Seniors STILL have to register with the goverment in order to get the monthly welfare check from the NewIRS.

Seniors also have to account for their lifestyle in order to ensure they are not avoiding sales taxes claimed by NewIRS.

It is all in the bill...

[longtermmemmory]

then eliminat capital gains and investment income.

[groanup]

Even before one dime is withdrawn, whether they spend it or invest it, the face value of all their assets would be reduced 23% day one of the Fairtax. Can you say hidden tax?

So what? As it stands now every dime that is sitting in an IRA/401(k)/403(b)/etc. is worth the net amount of value after taxes.

everyone but you is making out fine. But they can't do it unless they're screwing someone else huh! Like Ins. sales, tax accountants, seniors with IRA's

Looie, when did you first notice these symptons?

[Paladin2]

I hate to drop into this echo chamber......but here goes.

You are totally ignorant.

What about the "straight" saving oldster have made. They WILL be taxed TWICE under your "great" plan. Take a hike.