The last bill that was proposed to abolish income tax and the IRS included a National Sales tax. The Buddy Carter sponsored bill did not pass but was proposed. Had it passed you and I would have had to pay a national 23% sales tax on top of any state...

You are correct, everyone needs some skin in the game, or they won't care, My concern is that most retirees have purchased every item we have with after tax dollars. Also, much of our savings is after tax dollars. So, if the income tax is abolished a...

Attention, Fellow AARP members:I want to bring to light and important issue regarding the possibility of the income tax being replaced by a national sales tax system, which could have a significant implication on our financial well-being, particularl...

If income tax is axed and there are not any adjustments anything we own that is our free and clear will be taxed again by a national sales tax or similar. Say you bought 1 acre of land for 50000 dollars with after tax dollars then you sell that acre ...

I agree. But I wonder why the subject is never discussed since most financial gurus push folks toward Roth 401Ks and never mention the fact that a Roth is only good for the tax system we have today. The dangers of your contributions being taxed again...