Skip to main content
No. of Recommendations: 0
Vtaeger,

Good post!

<<The affect of a switch from income tax to consumption
tax affects traditional IRAs, ROTH IRAs and after tax
savings differently. Lets assume a switch to consumption
taxes with no increase in Government spending, so the
consumption tax replaces the income tax dollar for dollar.>>

Big assumption IMHO. While I see some kind of national VAT or sales tax, I don't see it standing alone. Far from it, in fact. I think our fearless leaders will implement some kind of consumption tax in conjunction with an insidious income tax (applicable only to the "rich" of course) at a lower rate than today's. In that case, my statement stands. ALL savings will be affected adversely, albeit at differing levels.

Regards….Pixy
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.