[Filo]

The Fair Tax is still deeply flawed.

The most basic flaw is that it will re-tax money that has already been taxed. Virtually all of my savings was saved after-tax (with the exception of my 401K) and when I go to spend any of it I’ll be taxed again on that same money.

Unless that flaw is corrected then the Fair Tax is doomed. There are too many people in my situation who stand to be royally screwed by this fix.

[Phantom Lord]

Your post tax money is already retaxed when you purchase something because of the embedded taxes in the product.

How is that different and better than the FairTax you will pay?

[GeorgefromGeorgia]

check it out

http://www.fairtax.org/PDF/TheFairTaxAndEconomicGrowth.pdf

[Still Thinking]

I’ve given this problem some thought, and it seems easy to fix. What would have to be done is that on the date of the changeover, say January 1, 2010, or whatever, if you had $100,000 in savings, stocks, etc., and the tax rate was pegged at 23% exclusive, you would be issued $23,000 worth of Fair Tax Vouchers, which could be used only to pay FT on future purchases. Thus, your $100,000 would still buy $100,000 worth of goods (or you could probably sell the vouchers at a discount and add that money to your investments).