[pigdog]

Oh, but it does need to be taxable, Nightie, and the very last line of just the part you quoted shows that when it says:

"... receives certification in a form satisfactory to the Secretary that the qualified inventory was subsequently sold subject to the tax imposed by this subtitle ..."

(emphasis added)

And it's not a matter of "liking" your numbers or not, Nightie, merely that they are grossly wrong covering all inventory even that held by manufacturers, wholesalers, etc. In short - all inventory in the US. That's not what the bill said and you know it.

Most of us on these threads know of your disinclination to admit your errors and I'm certainly willing to think that the figure Linder offered of less than 1/3 of "your number" is more correct. All this is just more of your nonsense and hope to derail ay FairTax discussion by claiming no one was willing to post SOME of your past lies/misstatements. I just did so.

[Your Nightmare]

`(2) TRANSITIONAL INVENTORY CREDIT RIGHT MAY BE SOLD- The business entitled to the transitional inventory credit may sell the right to receive said transitional inventory credit to the purchaser of the qualified inventory that gave rise to the credit entitlement. Any purchaser of such qualified inventory (or property or services into which the qualified inventory has been incorporated) may sell the right to said transitional inventory credit to a subsequent purchaser of said qualified inventory (or property or services into which the qualified inventory has been incorporated).

Oy.

As I tried to explain to you before, the credit right can be sold with the inventory even if the inventory is to be later incorporated in other taxable goods or services.

`(2) TRANSITIONAL INVENTORY CREDIT RIGHT MAY BE SOLD- The business entitled to the transitional inventory credit may sell the right to receive said transitional inventory credit to the purchaser of the qualified inventory that gave rise to the credit entitlement. Any purchaser of such qualified inventory (or property or services into which the qualified inventory has been incorporated) may sell the right to said transitional inventory credit to a subsequent purchaser of said qualified inventory (or property or services into which the qualified inventory has been incorporated).

According to your logic, if I'm a wholesaler, I don't get the credit because my sales are not a taxable event. That's not what the bill states. The bill reads that if you have inventory that is not taxable, you can recieve the credit and later sell that credit with the inventory. The person who sells the inventory, or any inventory it's been incorporated into, at retail can then use the credit.