[Your Nightmare]

Do you have some crow handy, Lewis ? Once again you demonstrate that you don't really understand HR25.

Maybe y'all could share a serving of crow. You were wrong about Social Security payouts being increased by the FairTax and also about not-for-profits having to pay the FairTax.

[lewislynn]

Maybe y'all could share a serving of crow. You were wrong about Social Security payouts being increased by the FairTax and also about not-for-profits having to pay the FairTax.

Not to mention tax on interest, Social Security bureaucrats adjusting the rates every year, increased spending on negative taxes(otherwise known as welfare), and 22% price reductions to name a few more.

[Kellis91789]

I don't share well. I might be order upa small portion of crow for the iffy conclusion you've drawn about SS benefit increases, but certainly not on the "not-for-profit" issue. `SEC. 706. NOT-FOR-PROFIT ORGANIZATIONS. (e) EXEMPTIONS- Taxable property and services purchased by a qualified not-for-profit organization shall be eligible for the exemptions provided in section 102. `SEC. 102. INTERMEDIATE AND EXPORT SALES. `(a) IN GENERAL- For purposes of this subtitle-- `(1) BUSINESS AND EXPORT PURPOSES- No tax shall be imposed under section 101 on any taxable property or service purchased for-- `(A) a business purpose in a trade or business, or `(B) export from the United States for use or consumption outside the United States, if, the purchaser provided the seller with a registration certificate, and the seller was a wholesale seller. `(2) INVESTMENT PURPOSE- No tax shall be imposed under section 101 on any taxable property or service purchased for an investment purpose and held exclusively for an investment purpose. `(3) STATE GOVERNMENT FUNCTIONS- No tax shall be imposed under section 101 on State government functions that do not constitute the final consumption of property or services. `(b) BUSINESS PURPOSES- For purposes of this section, the term `purchased for a business purpose in a trade or business' means purchased by a person engaged in a trade or business and used in that trade or business-- `(1) for resale, `(2) to produce, provide, render, or sell taxable property or services, or `(3) in furtherance of other bona fide business purposes. `(c) INVESTMENT PURPOSES- For purposes of this section, the term `purchased for an investment purpose' means property purchased exclusively for purposes of appreciation or the production of income but not entailing more than minor personal efforts. ------------------------------------------------------ So where was I wrong ? Puchases made by a 'not-for-profit' organization are treated exactly the same as purchases made by a for-profit enterprise in the normal course of running its business. They are not taxed. Neither do they pay tax on their employees' compensation, as shown above in the same section as the school-teachers issue. On the SS benefits issue, you seem to be interpreting that differently than I do. HR25 says that the CPI will be measured and if it has gone up, then the SS benefit will be adjusted by 23% of the rise in CPI. You assume the CPI will go up, while I do not assume that. If there is no increase in CPI then I am right and you are wrong. If it goes up the full amount of the FairTax rate, then you are right and I am wrong. If it goes up some, but not the full amount of the FairTax rate, then neither of us is right or wrong. So it isn't time to order up the crow yet on that issue.

[pigdog]

Nightie first stubbed his toe on this not-for-profit thing in relation to churches and he still can't admit his error - nor will he.

He continues to insist they and other NFP organizations (he seems to make no distinction between the different types of NFP organizations which is itself an error as some ARE taxable) are stuck with tax under the FairTax.

That's not the way the bill reads and only the Looey-like misreading of it allows him to make that sort of off-base observation. Kellis91789 doesn't understand you've hoist yourself on your own petard (and that he's beating his head against the wall) and you will never admit your error - or even the slightest possibility of a different interpretation.