[longtermmemmory]

you are incorrect for those who have planned.

Some of a retirement portfolio MIGHT be taxed but under the fair sales tax scam ALL will be taxed.

Consider that ROTH IRA’s which are to be no tax on the money comming out WILL then be taxed TWICE with the money in and out.

Don’t forget the class envy game that will happen with prebate games. Democrats are guaranteed to say “rich people” (which they define as a family earnign more than 80k) should not get the prebate at all. [for the children]

[cinives]

For those of us who had IRAs long before the Roth came along, we will pay taxes. Anyone with a 401k will be taxed.

Pensions are taxed, period.

Pension income may cause SS to be taxed as well in the early retirement years.

The tax envy game occurs now and will not cease under any tax regime.

Taxes are never “fair” to anyone. The current tax scheme exempts almost 50% of the population from paying taxes. How is that better than the fair tax ?

In my book, if everyone pays taxes , and I mean everyone including those illegals who don’t now pay taxes, then just maybe those who believe they get government goodies for nothing will cease trying to vote us all into socialism.

[beavus]

“Democrats are guaranteed to say “rich people” (which they define as a family earnign more than 80k) should not get the prebate at all. [for the children]”

Exactly. And how are the Dems going to know who is rich? Back comes the IRS!

[wgflyer]

Just a thought you might be able to comment on...why is it that people think it’s a great thing to be forced into hiding their savings and investments from government predation? Buy things at a loss so they can get the deduction? Pay other people to find loopholes in the maze of IRS regulation? Or wade in and spend ours of otherwise productive time doing it themselves? And keep reams of records in order to do so? A great portion of our economy, which might otherwise be productive, is spent trying to legally get around the IRS. How about this? If you don’t like the tax, don’t buy the product, or by a used one. If you’re the type that is now spending your efforts on illegal avoidance of the current system, there is always the black market under the FairTax, if you think it’s too high.

For me, and I suspect the bulk of America, I’ll pay far less tax under the FairTax than I do now, and legally. And the Fed won’t have it’s hooks in what I have or what I earn. Only what I spend. You can double the FairTax proposed percent and that still holds. The money in my accounts will be untouched by dirty Federal hands. That sells me.

The complaint that Congress will corrupt the FairTax is valid. However, no more so than with the current system. That we allow Congress to do this at all just boggles my mind. However, since that won’t change, barring some epiphany by America’s rather detached citizenry, I prefer the FairTax and the opportunity to make Congress start over again.

It sounds like you have a lot of your time and money invested in the current system and are afraid of the change. I welcome it with open arms. It brings me financial freedom.