Predatory income taxes in our earning years (coupled with Carters inflation and 0% interest under Bush-Obama) and then confiscatory sales taxes when we need to spend what little we were able to save.
So get ready for a VAT, the pols are already drooling.
OK Gen-Xers, start screaming how greedy we old farts are - don't care.
Arguments on the confiscatory nature of the "Fair Tax" mostly fail to acknowledge there is a push to expand taxation to everything you own anyway, e.g. the "you've got much more than you need - share the wealth" premise. So your argument is already mooted, too bad you oppose ending the reign of the taxers on the theory your savings would be protected. There's not going to be special treatment for you.
It's not a principled argument on your part to argue against ending the boundless abuses inherent in income taxation. How can any sensible person think their current retirement savings are safe from confiscation simply because of a silly law. Heck, the gov't has proved they don't even have to confiscate your account to steal it's value (quantitative easing, for example)?
OTOH, with the "Fair Tax" you actually get some say-so over how much of your spending is taxable. Do you have some influence over how much of your income is taxable in a tax-advantaged savings plan? Not really, you just get to choose the tax regime - current or future. So they could gin up specially confiscatory taxation on future withdrawals from your retirement plan and then where would you be?