FairTax, another thought...

What about all of those "Roth IRAs" out there? What about the 529 college accounts?

Both of these work by putting away POST tax money, and the benefit is accrued at the time of withdrawal, the money which has grown tax-free continues to be tax-free.

As soon as you enact the "FairTax" you basically invalidate the planning of anyone responsible enough to make use of one of these plans.

Of course, you could always have a "one time pre-bate" payment to people to make up for the loss, but that's one more bit of spent money that would have to be made up, and one more complication thrown into the mix.

Just my thoughts for this morning.

Liam.