“Now some want to tax it again when I spend the savings in retirement.”
BS Talking Point. Debunked numerous times. Such a talking point hasn’t flown and will not fly.
When savings are used to ‘spend’, they are taxed again in the price of purchases. Federal taxes are embedded in the price of everything; embedded taxes that the FairTax NRST is designed to replace.
re Hostage:
TP/FT - in spades. (the usual BS)
“Federal taxes are embedded in the price of everything”
BS Talking Point. Debunked numerous times.
NRST= Not Ready [for] Sales Taxes
I say “bull”. The numbers don’t agree. Let me simplify: 84% of the 2007 US Federal Budget receipts come from individual income taxes, socialist security, and mediscare taxes NOT corporate taxes. That 84% is not embedded in the product costs now but will be with that fair tax. When that 84% get’s shifted to product sales, I will have to pay that 84% again on the money (outside 401K of course) I already paid taxes on and saved for retirement.
nonsense.
The double taxation for those who have already saved is showin the language of the actual Fair Tax Scam bill located at http://www.thomas.gov.
This story is dubious at best and seems based on technicalities not tax obligations.
The IRS shoudl go, the fair tax scam is not the way to do it because it is based on teh concept of tax income neutrality. WE are NOT tax inccorectly, we are taxed too much.
The fair tax scam needs to be dumped just as equally as the current tax code should be dumped. Something else must be adopted.