[Iwo Jima]

An item is used if it's had the tax paid on it.

So there is no such thing as a used good before the tax goes into effect? And after the NRST goes into effect, a 20 year old car would be taxed as a new good the first time that it was sold? Are you saying that LAND is ever taxed as "new"? If that's the way this thing is supposed to work, its supporters are being very deceptive. No ordinary person would define "used" in that way.

Does anybody else agree with this? So much for the argument that you can avoid the tax by buying used goods.

And tell me this, how do you know if a tax has previously been paid on an item or not? You're not going to tell me that we have to keep records for every item bought or sold to determine if the tax was properly paid, are you? Think of the paperwork!!

[Principled]

So there is no such thing as a used good before the tax goes into effect?

Wrong. Anything produced under our income tax system has already been taxed. It's those pesky production chain taxes passed thru to final consumer.

[kevkrom]

So there is no such thing as a used good before the tax goes into effect? And after the NRST goes into effect, a 20 year old car would be taxed as a new good the first time that it was sold? Are you saying that LAND is ever taxed as "new"?

All items previously sold, prior too the enactment of the tax, are considered previously-taxed. The transition plan allows for an inventory credit for unsold goods as well.

Land is considered previously taxed. New home construction or existing home improvement is taxable, but the land it is on is not.

[Principled]

And after the NRST goes into effect, a 20 year old car would be taxed as a new good the first time that it was sold?

No. If the car was produced during the income tax, it had tax already built into its price - it has already been taxed.

[Principled]

You're not going to tell me that we have to keep records for every item bought or sold to determine if the tax was properly paid, are you? Think of the paperwork!!

EGADS no! That would be what we do now!!!!

Consumers don't have to keep records under the nrst.

[Always Right]

And tell me this, how do you know if a tax has previously been paid on an item or not? You're not going to tell me that we have to keep records for every item bought or sold to determine if the tax was properly paid, are you?

Yes you better keep reciepts on all your new items for a period of 6 years. It is your burden according to the bill.