Sounds a bit to Zen for me.
1. Are you saying that if I buy shares of stock I should pay or not pay sales tax?
2. If I have money in an account of any type earning interest,dividends,bond payout, whatever; Am I not consuming capital?
3. A Tax-a-phrenic is someone that believes that the home mortgage interest writeoff actually pays them money. Or that buying a customer a $250 lunch and writing it off is somehow cheaper than letting them buy you that same lunch.
4. I'm totally in favor of a national sales tax. I didn't spend a quarter of what I made for 20 years. I just don't want to pay taxes again on money I earned and paid taxes on during that 20 years.
a) Can I get a refund on the tax I paid over the amount that would have been collected in sales tax? Better yet how do I prove that?
b) Will I be able to spend my after tax dollars without paying tax again? Or, how do I prove that I am spending "old already taxed" money to a merchant?
1. Are you saying that if I buy shares of stock I should pay or not pay sales tax?
Under H.R.25, as a causal investor, you pay retail sales tax only on brokers fees (a service) not on the capital invested nor on dividends or any capital gains on sale of investment assets. You do not pay the NRST on investment capital itself.
2. If I have money in an account of any type earning interest,dividends,bond payout, whatever; Am I not consuming capital?
In what way are you consuming capital? You are investing/saving capital that others are using.
3. A Tax-a-phrenic is someone that believes that the home mortgage interest writeoff actually pays them money. Or that buying a customer a $250 lunch and writing it off is somehow cheaper than letting them buy you that same lunch.
Yep!! Just costs you as well as assures Uncle still gets his cut out of his favorite tax collector the business.
4. I'm totally in favor of a national sales tax. I didn't spend a quarter of what I made for 20 years. I just don't want to pay taxes again on money I earned and paid taxes on during that 20 years.
Sorry my friend no way out of it, you are going to pay again now when you pay for goods and services under corporate & business income/payroll taxes that exist today. It is all embbeded and financed out of the price paid for products. In the end only a human being, the individual citizen can pay a tax, any tax.
However under H.R.25's FCA, you will be compensated for the taxes up to the povertylevel of your expenditures. And you will be paying lower prices for goods and services such that your dollars expended including the NRST will be no more than what you pay for the same thing today with its embedded tax burden.
a) Can I get a refund on the tax I paid over the amount that would have been collected in sales tax? Better yet how do I prove that?
No. But then you can't do that under the current system either. No way to get a refund on the taxes embedded into the prices of goods and services.
b) Will I be able to spend my after tax dollars without paying tax again?
No. But then you can't do that now either. When you buy something today you finance the embedded business tax burdens that exist to the tune of 20-25%. So not only did you get whacked up front on the dollars you put in, you are getting whacked again when you spend it.
Sorry, but where the Ross IRA is concerned, the government sold you a bill of goods if you figured that there was no tax consequence on money spent out of those accounts under the current tax system or any conceivable tax system. And that my friend is an economic fact of life.
The best you can do, is recover some tax paid back through the the Fair Tax Act, FCA, which under the current tax system you do not have the advantage of. That way you will have the advantage of the personal exemptions and deductions taken when taxed under the individual income tax when you invested/saved, and the NRST FCA as well. To that degree and the benefits of a better economy encouraging additional growth and returns on you investments, you are better off under HR25.