It taxes the purchaser! You need a basic refresher on the Fair Tax.Nope, sounds like you need an education on the Fairtax, not a refresher.
The law states the rate is 23% of the gross payments received.
Do purchasers receive payments?
There's nothing anywhere in the law about what the tax rate is for the consumer/purchaser...only the business.
It also says that if you make RETAIL sales of NEW goods or services you are REQUIRED to collect the tax from the purchaser on every sale but I guess you ignored that part didn't you Louie!
The business is just a conduit and that is true whether or not the fairtax is in place!
For the benefit of someone else who may be reading this (not you Louie because I KNOW already that you are to stupid to ever understand it), A business has but ONE source of revenue and that is it's sales receipts. That being the case, EVERYTHING the business pays must, of necessity, come from that source! If you tax a business the tax can accrue to any one, or any possible combination of, only three places.
1. The tax is added into the final sales price of the good or service produced and passed on to the consumer hidden in price.
2. The tax reduces the wages and fringe benefits of the worker involved in the production process.
3. The tax reduces the R(eturn) O(n) I(nvestment) to the stockholders of the business.
There is literally no place else for them to accrue and in all cases they fall on individuals and NOT the business!