If you are referring to taxing your savings again when you spend them then you should know we've heard that tired AARP scare tactic many times before and it won't work. If you bothered to study the issue you would know that you are paying embedded federal taxes on every retail purchase so there is no way to get around paying federal taxes on purchases whether under the Income tax or the FairTax.
and I don’t want the government to have the chance to add new taxes later. If the 16th isn’t repealed and replaced with an unimpeachable ban on future income taxes then we’ll be just like Europe with an income tax and a VAT within a decade or less. Count on it.
And the FairTax movement will immediately move to repeal the 16th Amendment just as they point out on their website http://www.fairtax.org , and they are correct in pointing out that once Americans are free of the Income tax, they will never allow it to return. And this will be done with a bill to repeal the 16th Amendment. As soon as the FairTax is enacted the IRS is abolished and the Income tax is repealed. And the very same day of FairTax enactment the bill to repeal the 16th Amendment will be introduced.
You paid taxes that you didn't owe, that were embedded in things you didn't buy, because only your income was taxed, because what you might buy will have to be taxed again, especially if you had after tax money, to spend on untaxed things with embedded taxes, that aren't taxed because corporations don't pay taxes, because you paid the taxes you didn't owe.
Got all that?
Now rinse, and repeat.
And the question every fairtaxer since the beginning of time fails to answer, if the employee is taking that money home in the form of a bigger paycheck, how does that reduce prices? It does not, those costs are still embedded in the cost of goods and the new tax will increase the costs of goods and services to the consumer.