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To: bill1952

This post has to do with the implications of replacing the Federal income tax with a Federal flat value added tax, and everything that you posted has to do with a system that would be scrapped.

This thread has to do with a National RETAIL Sales Tax, replacing all federal income and payroll taxes (e.g. SS/Medicare).

No VAT is involved as the retail tax is collected only from sales of goods and services for final consumption, and is not collected on purchases for business use as VATs are collected.

The NRST implemented by the FairTax legislation would be collected from the consumer, not from intermediate sales of good or services used for business purpose.

255 posted on 08/25/2005 1:29:08 PM PDT by ancient_geezer (Don't reform it, Replace it!!)
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To: ancient_geezer
The NRST implemented by the FairTax legislation would be collected from the consumer, not from intermediate sales of good or services used for business purpose.

Which is exactly the point I am trying to make, without splitting hairs between the EU definition of value added, and our sales taxes in various locales.

Therefore I'll just write "sales tax," and we are in agreement, semantics aside..

308 posted on 08/25/2005 5:03:47 PM PDT by bill1952 ("All that we do is done with an eye towards something else.")
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