With the FairTax, income isnt taxed - only certain qualifying consumption.
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I Won’t capitalize,,,,,,,,,,,,,,,,,,,,,,,,,
I don’t have any income. I planned it that way,,,,,,,,,,,,,
to NOT pay taxes. I paid my taxes. I paid my taxes, I paid my taxes.
But now you want me to throw out all my planning and pay taxes again, some more and on money which has already been TAXED.
Tell me where I went wrong. Besides lying about two capitalized words.
That means they can change the definition by IRS regulation fiat (and do) making all your fanciful “zero tax planning” go out the window. Nothing to prevent a move on their part to seize all funds on which you receive “income” (their definition) until they can decide how much to give back ... come to think of it - that’s pretty much what they do now. Perhaps you disagree?
I’d rather see a tax on consumption which I have some control over.