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Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75642  
Subject: Re: E Bonds - Advice please Date: 7/25/2011 11:34 PM
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ferjen:

<<<That is a nice way to devalue Roth IRAs and I am sure a 30% (29.87%, IIRC) sales tax will do wonders for the economy.>>>

"Perhaps you missed the part where I said you get to keep EVERYTHING you make. I believe it will greatly improve the economy...your Roth will be fine. It's all relative..."

I have done plenty of reading about the "Fair Tax".

IMNSHO, the propenents get off to a bad start talking about a 23% all inclusive rate" when no other sales tax is discussed or calculated in such manner. When the starting point is starts off fraudently, then the balance often goes down hill.

Second, Fair Tax does not necessarily change any state income tax, so you do not necessarily "keep EVERYTHING you make".

Third, there are a lot of assumptions about economic behavior that one has too swallow on faith to believe that a roughly 30% national sales tax will do wonders for the economy.

etc., etc. etc.

Adn there is no way that it does not devalue a Roth IRA. Currently, the qualified dollars coming out of a Roth IRA in retirement for covering expenses owe no federal income tax and no federal sales tax. Under your concept, the dollars coming out in the future will likely owe a roughly 30% sales tax when expended.

Regards, JAFO
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