You are patently WRONG on this point!
Under the FairTax, unlike the income tax, everyone would be able to save and invest with previously untaxed dollars. They would be able to gather in the profits from those investments without having to first consider the tax consequences as well.
For the first time in the lives of anyone living in the USA today we would be truly FREE!
>> Under the FairTax, unlike the income tax, everyone would be able to save and invest with previously untaxed dollars.
You’re being disingenuous.
I said it would screw retirees, as well as those who save so they can spend later.
How?
Well, these poor folks were TAXED (highly!) when they EARNED the money.
And, they will be TAXED AGAIN at CONFISCATORY (30%) rates when they SPEND their hard-earned, and highly-taxed, money.
Tell me, how is that FAIR?
I’m afraid it is you who is patently wrong on this issue.
Free from what? oldIRS vs NEW-IRS?
Free from book keeping? not according to HR25 which has the draconian registration and reporting requiremetns.
Free from lobbyists? not accordign to the K street lobbyists who will be marching to the Hill for all sorts of exemptions and from lobbyists.
Free from politics? not on you life as democrta demand a “living rebate check”.
Free from entitlement programs? not from the prebate/rebate entitlement program that dwarfs the wealfare and social security systsms. Especially around each election cycle. It will very well be the monthly living expense as social security has become from the socialist con job of FDR as a mere supplement for seniors.
The only Free will be trading the chains of the IRS slavery to the NewIRS slavery with new and improved draconian intrusivness and that fresh entitlement program scent.