[pigdog]

The FairTax will indeed do away with the income tax and, BTW, I don't go to casinos (can't afford it since the income tax has all my spare change.

The FairTax when passed will no doubt kick off the biggest spending boom in years from those in your position unless they decide to invest their money and get even richer - which would also boost an economic boom.

[Final Authority]

What would be my incentive in retirement, say in 15 years, under the so-called farttax (do me a favor and cite a legal definition for "fair") to spend money at a 30% premium where my income tax marginal rate hopefully will be at 15% and that will only be about 1/3 of the money I will be spending, so the net marginal rate will be 5%.

Let me see, do I want to be taxed 5% or do I want to be taxed 30%? Let me think for a minute. Na, I'll take the 5% and keep the rest of my money. (based on My cousin Vinnie) What do you think, the whole of the electorate is stupid. The only reason you have gotten this far is because your proposal isn't on the radar screen of nearly anybody yet. When it is it will be made sport of like what happened that the stage for the topic of this thread. There have been academic reviews by think tanks which ridicule may of the ideas of your proposals. At some point in time it will be so obvious it will be just funny that there are so many holes that this tax will never hold water and it won't go to the floor to be voted on either. However, you and your friends have greased the skids to give us a NRST of about 3%. That deed alone is unworthy of any American who believes in our free republic.