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The fair tax is not fair to those who have saved after tax money that they now want to spend.

That is a valid point I had not considered. But truth be told, my (maybe our) generation is going to have to pay a disproportionate amount of the bill for the excesses of generation X. It already started under Reagan with SS reform.

Ah, yes. Let’s not restore freedom/choice to the masses, it might effect a minority adversely.

The NRST (modified Fair Tax) would *finally* encompass ALL persons (no exemptions), drive-up trade/barter/resale (’green’) and do that which no other tax scheme (especially a ‘flat tax) could do...be completely VOLUNTARY (Freedom again).

The biggest PRO it’s got going for it: No more ‘fair share’ crap; rate is the same across all economic strata. Its in-your-face on every receipt and every politician will be sh!tting themselves if they even bring up a vote to increase the % (poorest hit hardest BS).

The fair tax is not fair to those who have saved after tax money that they now want to spend.

You are correct that if you spend savings previously taxed you would be disadvantaged but that would be somewhat offset by the fact that earnings or interest received from those savings would no longer be taxed. One of the hardest hit would be those with substantial incomes derived from trust funds some of which are multi generational. Other hard hit groups would include those with income from illegal activities, those working or doing business off the books, and illegal aliens.

Groups who would likely benefit would include those with current 401K and other retirement accounts funded with pre tax income. People who save or invest current after tax income would benefit substantially both in the amount available for investing and tax free return on investment.

Generally the Fair Tax is more advantageous to savers than spenders. I suspect that most taxpayers are like me in that the tax I find most fair is the one I don't have to pay.

As a saver you would benefit. The first is any money you earn from your savings will not be taxed. Therefore you could keep it invested and not worry about paying any taxes till you spend it.

Second since you most likely have already purchase most of what you need you will not pay a tax on those purchases. Things like your house, car, microwave, TV, ect you most likely already own.

Therefore you have a better chance of growing what you have already saved than some one who has just started in life.

The fact remains though that the FairTax is just a shuffling of the tax code away from income tax to a consumption tax. This will make it easier for everyone to see just exactly how much we have been paying. Income taxes hide a good chunk of the taxes that are really paid and that cant be done with a sales tax.

Politicians hate the fact that they will not be able to steal with out it being seen again. With the income tax or taxes like Obummer care they can hide it. Look at how many taxes were hidden in the Obummer care bill. Most people dont even know that it was a tax bill and not for health care.