Are business to business transactions exempt under fair tax? If not, the numbers are wrong.
Business to business purchases are exempt. The NRST is levied only once on sales for final consumption of new goods and services, and not on purchases for business or investment purposes.
I buy a top of the line luxury boat & charter it out one week of the year, because I need exactly that much income to make ends meet, would my purchase qualify for the business exemption?
I like the idea of the funds getting filtered through the states' coffers first. I'm just not sold on the whole mess getting the full overhaul, specially since there's that need for massive reeducation, that I mentioned in a previous post.
Anyway, just by changing the way funds are sent to the Fed, even if you're leaving the rest of the income tax codes we have now, some important dynamics could change.
Once the states have their hands on that money, they will begin to plot & plan ways to keep more & start talking about "block granting" funds to the Federal government. Let the Fed's apply for the funds, filling out lengthy forms about why they need the funds. What, you wanna put a big dig in some other state?