Ah, but they do if you want to claim that you are not being double taxed on your "wealth".
Right, I forgot we will all driving Pintos and wearing jeans with patches on the knees.
Listen butthead, I have bought many pre-owned cars, as do many other people, and the oldest ones have been no more than 6 years old. My house is a pre-owned home, like many people buy, do you own a home? Did you have it built or did you buy an existing home (pre-owned)? Many people buy clothes from Goodwill, Salvation Army, etc. that are still in great shape. To make such comments shows your true intelligence.
But the interest gained is taxed when spent.
Waaa, and that is worse than the current system where you pay taxes on the intrest and then pay sales taxes when you buy something with it?
Ah, but they do if you want to claim that you are not being double taxed on your "wealth".Usually double taxation is considered being taxed by the same entity twice not that I pay two entities taxes.
Waaa, and that is worse than the current system where you pay taxes on the intrest and then pay sales taxes when you buy something with it?You don't pay federal sales taxes currently. We really aren't discussing state taxes because they don't change with the proposed plan.