[kevkrom]

So, houses, cars, and other non-business property existing as of 12/31/06 would never be subject to the NRST. Correct?

That is exactly correct, and is not at odds with what Principled says -- items purchased prior to the NRST enactment date are considered "previously taxed", because they were already subject, directly and indirectly, to the income and payroll taxes.

[Iwo Jima]

Then there would be a mad rush to stock up on everything before 12/31/06, with a depression-like slow down afterward. Think of Y2K but much bigger.

[Iwo Jima]

You previously stated (at least I think that it was you) that real estate would not be taxed, but as I read the bill, it is not excluded and seems to be included. Tell me why you think that real estate or land would not be subject to the NRST.