[kjam22]

If you spend down 1,000,000 dollars equally in 15 years you spend 66,666.67 per year. If you earn 5% per year on it during that time, you earn a total of 350,000. Even you can figure that out. 46.666.67 earnings in the first year, and 3333.33 in the last year.

And I took the worst case scenario. I assumed that you CHOOSE to spend all million dollars in 15 years. That would be your choice under Huckabee's plan. Under the current plan you've got no choice except to pay the taxes and pull it out of investments when they make you.

[Toddsterpatriot]

If you spend down 1,000,000 dollars equally in 15 years you spend 66,666.67 per year. If you earn 5% per year on it during that time, you earn a total of 350,000. Even you can figure that out. 46.666.67 earnings in the first year, and 3333.33 in the last year.

Thanks for clarifying. Your original claim made no sense. So, assuming the worst case scenario and ignoring standard exemptions and standard deductions, I'd pay say 28% on the $350,000 in interest. Or $98,000.

To recap, $75,000 + $98,000 = $173,000 in taxes paid under the current system versus $230,000 under the FairTax.

Maybe you need a better model?

Under the current plan you've got no choice except to pay the taxes and pull it out of investments when they make you.

Why is somebody making me pull money out of this account?