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If you save using a conventional IRA, isn't it still savings? It isn't taxed until one retires and withdraws it, but under the consumption tax proposal, it will be taxed at a much higher rate (for most retirees) than the tax rate they would have after retirement when they are taxed at a much lower tax bracket. Or, if they do save using a Roth IRA, they have already paid the tax (savings after tax) and could withdraw it and pay no tax, unless there is a consumption tax. Why do you think there are malls on the NH, MA border or the DE, MD border, because people like to pay consumption taxes or because they don't?

In the income tax, interest earned is offset by interest paid, but if you do not own a home and have no mortgage, how would I expect you to know? But, even if you don't, you benefit anyway, by the standard deduction, which by any measure is way too progressive.