"I paid as much as 50% of all my pay to the government most of my working life, and now that I'm ready to retire and spend whats left, they will no longer tax earnings, but spending."
"Yeah, this thing will look real good to folks in my situation."
Two nationally known money managers told Congressman Linder that they didn't know what the Dow would be on the day the FairTax is implemented, but 24 months later, it will have doubled. If we can double the DJII in 24 months, who benefits the most from that?
Does it look any better to you now? If the value of equities doubles in 24 mos., that dwarfs the fact that you may be paying 2-3% more for US produced goods. Of course, if you choose to buy imports, you will pay more for them. That, however, is your choice.
I'm a money manager.
If your money manager has a crystal ball, double what you pay him.
Projections on the stock market are a dime a dozen.