[rwrcpa1]

Your Broker, Inc. will report every transaction they collect on. Time, Date and Amount and you can bet the Who will be included.

Not true. Investment transactions are totally tax free under the Fair Tax. There is nothing for your broker to report. They will charge the sales tax on brokerage commissions, but that is less intrusive than reporting every sale on a 1099B.

The fact that you are even considering this worse than the IRS shows a little naivety on your part. Once the government collects income tax from the individual, it doesn't come calling. Oh, really? Ever heard of an IRS audit?

It wouldn't be much different with a sales tax except that many individuals who are not burden with collecting and reporting taxes under the current system would now become reporting agents.

EVERY business is a reporting agent and collector now. What do you think you do when you withhold taxes from your employees' paychecks and make tax deposits?

[lewislynn]

Not true. Investment transactions are totally tax free under the Fair Tax

Not true. This has been pointed oput to you before Nightie, so you cannot honestly pretend you didn't know it.

[GVnana]

The fact that you are even considering this worse than the IRS shows a little naivety on your part. Once the government collects income tax from the individual, it doesn't come calling. Oh, really? Ever heard of an IRS audit?

Now who's being naive? Yes. I've even been through one. If you'd can your put-downs and biases we might have a discussion.

Otherwise, if you just want berate people who may not agree with you, you don't need to reply to my posts.