So there is already one built in loophole? How many more will follow? What makes tuition so special?
"`(D) EDUCATION AND TRAINING- Education and training shall be treated as services used to produce, provide, render, or sell taxable property or services."
It's been that way in the bill for a long time.
"So there is already one built in loophole? How many more will follow?"
Boy, THERE'S a reason to support the current system if ever I heard one. The FairTax might have "loopholes"!!!
We certainly can't have that, can we, AR??
AR, you are aware that CCH tallies the current system at more than 60,000 pages of "loopholes", right?
Just as an FYI, the FairTax is a consumption tax. Education is not considered to be an item of personal consumption. It is treated as an investment. From a taxation standpoint, it certainly is closer to an investment than it is to consumption.
Next I guess we will hear that investments should be taxed under a consumption tax also, that exempting investments is a "loophole".
So there is already one built in loophole? How many more will follow? What makes tuition so special?How is that a loophole. Investment in business is tax-free under a NST. Most people don't go to college simply to become more informed. They go to increase their earning power(an investment in business).