The Fair Tax and the Mark Of The Beast

Discussion in 'Economy' started by rtwngAvngr, Sep 17, 2005.

  1. rtwngAvngr
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    rtwngAvngr Guest

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    We were having a chat about about the fair tax and I remember I said it would require individual smart cards or vchips or something to tie every retail transaction to the buyer. I was challenged and at the time couldn't remember why I had thought that. I think my reasoning was this: Keeping track of retail transactions and being able to provide the purchaser of every item is the only ironclad way of protecting against "fraudulent wholesale buying", or buying things through a wholesale outlet and using for personal or black market use. How else could we guard against this BESIDES recording the individual purchaser at time of purchase, and forcing businesses to pay the tax or account for the merchandise, or provide the buyer id. Forcing them to provide the buyer id, keeps it in the legitimate market.
     
  2. insein
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    insein Senior Member

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    From what i ve read, they have certainly taken this into account. Im sure there is a acceptable amount of loss as in any business that is factored into the cost. It'll be interesting to see.

    IMO the benefits outweigh detriments.
     
  3. pegwinn
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    pegwinn Top of the Food Chain

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    I admit it, today I am stupid. Please elaborate because I don't understand. So long as the tax was paid at the time of purchace, who would care if you buy stuff wholesale? Tomorrow I might be in shape enough to get it. But for today .........
     

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