[numberonepal]

I already paid taxes on what I have saved.

You may have paid some taxes on the interest of what you saved. What we're saying here is that you would no longer have to pay taxes on what you earn. Certainly you paid taxes on that money you earned in order to save some, and yes, you will be taxed again on it when you spend that saved money on retail/consumer spending. Folks that are living on money they saved (say retirement money) will have to have some sort of exemptions. I believe fairtax.org explains this. I'm not sure if HR 25 says anything about it.

[RKV]

Actually, no, I saved after-tax income. A consumption tax on that money is double taxation. I already paid taxes on it.

[WritableSpace]

Hay How bout we just give retirees a NRS Coupon to give the old folks a savings on the NRST. The coupon could then transfer up to a discount on the item taxed to the retailer.

Of course, this may make second class citizens out of those who work and pay, and it might also be possible for businesses to cheat the system somehow into getting additional tax breaks...hmmm.