rtwngAvngr
Senior Member
- Jan 5, 2004
- 15,755
- 513
- 48
- Banned
- #1
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.