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To: RobFromGa
If creating wealth is SO IMPORTANT to you going forward, why does the FairTax plan severely punish anyone who has created wealth in the past by destroying a large portion of the value of their wealth?

Well thanks to a link you gave me I was able to dispel much of that myth. How convenient that you are bringing up this argument now. Did you ever consider the wealth enhancement brought about by the removal of taxes on retirement accounts? Do you have any idea (of course you do) the increased compounding effect of the removal of taxes? Don't you want your children to be able to take advantage of that? Why do you insist that it be done only in government approved vehicles? I sure don't.

Here's a question for you. What if we just reformed investment? No more of this ten different retirement accounts, one for annuities, one for teachers, one for small business owners, one for employees, one for gov't employees. What if we just made all retirement accumulation tax free? Would you go along with that? No more tax on any investment income of any kind? No limit on how much we can put into those accounts tax free and no taxes ever? Even when we cash out?

1,055 posted on 10/26/2006 7:40:53 PM PDT by groanup (Limited government is the answer. What's the question?)
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To: groanup

You can't ask me any more questions until you answer mine. You asked for two days, and I granted your request.

And I asked about the people that already have created wealth, why do you want to punish them? Not whether it will be relatively easier or harder to create new wealth. That is a different discussion, and worth having, but it is not more important than what happens to the wealth that people have already created.


1,056 posted on 10/26/2006 7:45:10 PM PDT by RobFromGa (The GOP will retain the Senate and House in 2006- Let's Do Something With It!)
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