I made that point in #9, but maybe should have given its it own number. Interest is also taxed under the sales tax, but only the amount above the fed rate.
"Interest is also taxed under the sales tax"
Just how did you come to that conclusion?
Yes but it is a different matter than the fact that savings will be double taxed, so I think it deserves its own bullet.
Interest is taxed today. And under the fair tax, if I made $500 in interest on my savings account in a year, the government could not tax it because they wouldn't even know about it because I would no longer have to file any income forms with them.