[OHelix]

Would all my current savings, including cash, stocks and real estate (less any applicable capital gains taxes), be exempt from NRST when I spend this money, money on which I have already paid income taxes?

No, your savings would not be exempt when you spend it. So you'll likely want to spend it before the FairTax takes effect. Maybe invest it in items that will likely be easy to sell and sell them tax free as "used" after the tax goes into efffect.

[Phantom Lord]

No, your savings would not be exempt when you spend it. So you'll likely want to spend it before the FairTax takes effect.

Currently your savings are subject to income taxes and investments to capital gains taxes. Once the NRST is established these items are TAX FREE.

Your 401(k), you get 100% of the balance. NO TAXES ON IT!

Stock sales... TAX FREE!

[BikerNYC]

No, your savings would not be exempt when you spend it. So you'll likely want to spend it before the FairTax takes effect.

That's ridiculous. I don't want to spend it now, I want to spend it upon retirement. Without exempting savings on which I have already paid income taxes, the NRST should go nowhere.