[baybabe]

Then your $2.3 million (plus) should do quite well in allowing you to live in high style under the FairTax since any interest earned or capital gains would not be taxed ... only the things spent for taxable consumption.

You should easily be able to generate $250,000 per year and even plug some of that back into your starting capital to do very well. Not all of what you spend out of that amount will be taxed in any event - but that's up to you.

[Polybius]

Then your $2.3 million (plus) should do quite well in allowing you to live in high style under the FairTax since any interest earned or capital gains would not be taxed ... only the things spent for taxable consumption. You should easily be able to generate $250,000 per year and even plug some of that back into your starting capital to do very well.

So, if I want to pay cash with my already taxed money for a house in the Florida Keys in order not to waste money on interest and maybe make a profit in 5 years, I can't do that because your Fair Tax would allow me to spend no more than what my saved money produced that year without being double taxed?

If the stock market tanks, like it did in 2000, and we all lose money in our investments, we should eat cat food for that year to avoid double taxation?

Three points:

1. If you can "easily" produce a guaranteed 10% plus return on my portfolios in the current economic climate, I will fire my current money managers and hire you right now. "Guaranteed" means that any shortfall comes out of your pocket into my pocket.

2. I have already paid hefty income taxes on MY saved wealth. Why should I desire to have you or The Gubbmint dictate to me that I must not spend it unless I want to get raped by your Fair Tax double taxation? What part of MY money do you people not understand?

3. Why should we savers be told that we cannot spend OUR already taxed money any way we please while you people pay off your credit card and home equity debts that you used to get goods without paying income taxes or sales taxes and then pay off with money that you never paid income tax on.

How about this? On any debt you have, The Gubbmint will charge you retroactive income taxes since you received goods by just swiping your VISA and, under the Fair Tax, you will then be charged a 23% sales tax when you pay off your VISA and home equity debt. That will make it "Fair". You will be in the same Double Taxation Boat we savers will be in and we can then tell YOU what you should have done with your finances.

3. Why don't you Fair Tax advocates come up with a plan that will not double tax those of us who haved saved serious money instead of telling us that we can't spend our own saved money without being taxed to an obscene degree while you people pay off your accumulated debts with tax free income?