[smokeyb]

Unless you are very ignorant as to savings, most savings (especially retirement savings)are deferred income. Do you have an IRA, 401K, SEP, etc ? This would be a benefit to those who have saved. Unless you are a major drug dealer I don't know too many people that have large deposits of after-tax cash equity on hand.

For those that do they still will be buying new products at a lower price, can buy a house, car, etc. used and not pay tax.

Double taxation !?!? I suggest you take a product, say the computer you are using, and follow the taxes from the start of the manufacturing process to delivery into your hands and see the amount of taxes embedded into the price.

I agree, Badray, they are either IRS employees (who have never worked in a private business), lobbyists, or tax accountants afraid of loosing their jobs. Or maybe they like the current Marxist tax system.

[Remember_Salamis]

"Unless you are very ignorant as to savings, most savings (especially retirement savings)are deferred income. Do you have an IRA, 401K, SEP, etc ? This would be a benefit to those who have saved. Unless you are a major drug dealer I don't know too many people that have large deposits of after-tax cash equity on hand.
For those that do they still will be buying new products at a lower price, can buy a house, car, etc. used and not pay tax.

Double taxation !?!? I suggest you take a product, say the computer you are using, and follow the taxes from the start of the manufacturing process to delivery into your hands and see the amount of taxes embedded into the price.

I agree, Badray, they are either IRS employees (who have never worked in a private business), lobbyists, or tax accountants afraid of loosing their jobs. Or maybe they like the current Marxist tax system."

-- I don't think it's much use trying to explain this point. I've tried it 1,000 times, stating that the overwhelming majority of savings are in tax-deferred vehicles (pensions, IRAs, 401(k)s).

I then tell them that the only ones who lose out are someone stupid enough to kepp their entire life savings under the matress.

[Your Nightmare]

Unless you are very ignorant as to savings, most savings (especially retirement savings)are deferred income.

And a good portion of that is in tax exempt investments.

[lewislynn]

Unless you are very ignorant as to savings, most savings (especially retirement savings)are deferred income.

Most, not all. Money saved/invested that isn't deferred would be taxed twice.

[lewislynn]

Double taxation !?!? I suggest you take a product, say the computer you are using, and follow the taxes from the start of the manufacturing process to delivery into your hands and see the amount of taxes embedded into the price

If I'm paying taxes on the production of my computer and it's components I'm likely paying Chinese, not American taxes....How will that effect prices with a U.S. nst?