Thanks for the calcultor. Proved me right.
I ran my numbers, and they come out ‘equal’, but the calculator assumes I pay social security and medicare taxes on my military pension, interest and dividends [which is false].
When I manually put that back into my “true purchasing power”, I come out $2800 short spending retirement income. That’s something that Boortz continues to basically ignore [or make fun of the callers] by saying ‘read the book [good pitch - WRONG] and we spent $20M studying this”. Well, the calculator proved me right.
I got 790 on my math SAT, majored in engineering at “Drexel Institutute of Technology” [poor mans MIT] before it becamse a university for one year. Spent 26 years in the Navy working electronics.
I pay federal taxes on my military pension. Some with a disabilities also get concurrent receipt [tax exempt] or a percent of their pension is tax free. Those people would really get screwed unless the pay was adjusted up front.
Unless somewhere in the book it talks about ‘extra comp’ for pensions, won’t work, won’t fly as written. Find me something other than, trust me it’s fair before it will get m support. In fact, I turn Boortz off some days after he gets a call from someone living off IRA’, savings, social security, etc and gives them the ‘spiel’ - you already pay the taxes - WRONG - I have more money than those working, because I don’t pay SS & MED on pension and dividends.
Find me something REAL to prove me wrong.
I'm not Boortz but perhaps I can explain what he is talking about when he says that you are already paying taxes. Even if everything you have said is true (I have absolutely NO reason to doubt that it is) everything you buy today that was produced in the U.S. carries in it's retail price all the taxes, and all the costs of dealing with those taxes, of every set of hands which have touched the process of producing them. They are hidden from you but you do pay them whether or not you realize it and I suspect that this is what Boortz is referring to. ALL of that would go away under the FairTax which would make our domestically produced goods and services a good deal less expensive for us to buy and FAR more competitive around the world as well.
Did you notice the "assumptions" tab on the calculator? If not I would hope you would go back and redo your calculations using whatever reasonable number you chose for price drops under the Fairtax.
I am a Viet Nam vet, retired (not from the military), and, as I said, come out better under the FairTax under ever condition I can think of.
That should tell you all you need to know.
Also please see this post for an aspect that you may not have considered up to now.