[groanup]

Explain to me how $100,000 in a bank right now would be taxed under a flat tax

BINGO!

You had to make 130,000 to wind up with that 100,000 in the bank. Under NRST the playing field is leveled for those still trying to create wealth. As Rush said on his show yesterday: "An income tax is a tax on the creation of wealth."

Under NRST you have to make 100,000 to have 100,000 in the bank. You spend it when you want, OR, you save it and never, ever, ever pay any taxes on it.

[Your Nightmare]

Well, we were discussing the transition to a sales tax. Your post doesn't really address that.

You had to make 130,000 to wind up with that 100,000 in the bank. Under NRST the playing field is leveled for those still trying to create wealth.

But it is worth $100,000 of goods and services.

Under NRST you have to make 100,000 to have 100,000 in the bank. You spend it when you want, OR, you save it and never, ever, ever pay any taxes on it.

But to get $100,000 worth of goods and services under the FairTax I would have to have/make $130,000. The real value is the same.

[lewislynn]

Under NRST you have to make 100,000 to have 100,000 in the bank. You spend it when you want, OR, you save it and never, ever, ever pay any taxes on it.

It doesn't matter if you spend it or leave it in the bank it's still only worth $77,000.

Technically it's not even worth $77,000 when you consider the gross payment tax taxes 30% on any other taxes, fees, excises etc. that might be included in a gross payment.