Education Archive
The FairTax and Globalization of the U.S. Economy
From Duane Neighbors:
I would like to see a new thread started that discusses the current tax system, the FairTax and globalization of the nations economy. How would this country fare in the global marketplace under ...
Posted by Joshua Zader · 45 Comments »
The Fair Tax Act, Part LXIII
July 11, 2007 · Category: Education
Ah, here it is, the very last section of HR25. I made it.
SEC. 303. SALES TAX INCLUSIVE SOCIAL SECURITY BENEFITS INDEXATION.
Subparagraph (D) of section 215(i)(1) of the Social ...
Posted by James Kidd · 4 Comments »
The Fair Tax Act, Part LXII
July 9, 2007 · Category: Education
Nearly There! Section 302 creates the entities responsible for taxation within the Treasury Department:
SEC. 302. ADMINISTRATION OF OTHER FEDERAL TAXES.
(a) In General- Section 7801 (relating to the authority ...
Posted by James Kidd · 2 Comments »
Cascading Embedded Costs of the Income Tax
From Hank Van Gieson:
There is a fairly lively discussion on the fairtaxgroups site concerning just how much income tax costs can be removed if the Fairtax was approved. I have long been puzzled by ...
Posted by Joshua Zader · 13 Comments »
The Fair Tax Act, Part LXI
July 5, 2007 · Category: Education
With some reservation, I have decided to omit the sections of the Fair Tax Act about reforming technical amendments (Sec. 202 under Chapter 9), simply because most of them are just repealing chunks of law ...
Posted by James Kidd · 3 Comments »
Putting Revenue Neutrality in Context
July 4, 2007 · Category: Education
This is a reply from Quadrupole to Hayden, picking up from their discussion here. I'm promoting this to its own thread to provide some front-page coverage for Quad's valuable observations. Happy Independence Day, ...
Posted by Joshua Zader · 10 Comments »
Clarification from Dr. Walby on Section 905
June 14, 2007 · Category: Education
Joshua forwarded this response from Dr. Walby:
There was a post regarding section 905 on your blog. Here is an explanation and reason for it being included in the FairTax Act. Karen
Karen ...
Posted by James Kidd · 15 Comments »
The Fair Tax Act, Part LIX
June 1, 2007 · Category: Education
Sorry for the long absence... life does that to you sometimes. Anyway, I'll post the rest of section 904 today.
`(d) Old-Age, Survivors and Disability Insurance Rate- The old-age, survivors and disability insurance rate shall ...
Posted by James Kidd · 45 Comments »
The Fair Tax Act, Part LVIII
May 10, 2007 · Category: Education
Today I'll cover the first chunk of section 904, which details how to handle Social Security and Medicare revenue with the FairTax:
(a) Secretary To Make Allocation of Sales Tax ...
Posted by James Kidd · No Comments »
Would the Underground Economy Be a Problem?
I'm promoting Jessica's question into a post and thread here of its own:
I don't think we've really discussed the "underground economy" that Mr. Gale says would thrive. As far as I understand it, as used ...
Posted by Joshua Zader · 43 Comments »
The Fair Tax Act, Part LVII
April 30, 2007 · Category: Education
Section 903 details how your Social Security benefits will be calculated after the FairTax is implemented:
`SEC. 903. WAGES TO BE REPORTED TO SOCIAL SECURITY ADMINISTRATION.
`(a) In General- Employers shall ...
Posted by James Kidd · 9 Comments »
The Fair Tax Act, Part LVI
April 27, 2007 · Category: Education
Here we go with Section 902: Transition Matters.
`SEC. 902. TRANSITION MATTERS.
`(a) Inventory-
`(1) QUALIFIED INVENTORY- Inventory held ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part LV
April 26, 2007 · Category: Education
More of section 901:
`(f) Substance Over Form- The substance of a transaction will prevail over its form if the transaction has no bona fide economic purpose and is designed to evade tax imposed by this ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part LIV
April 23, 2007 · Category: Education
Moving on to Chapter 9 which covers a wide assortment of miscellany:
`(a) Intangible Property Antiavoidance Rule- Notwithstanding section 2(a)(14)(a)(i), the sale of a copyright or trademark shall be treated as the sale of taxable services ...
Posted by James Kidd · 6 Comments »
The Fair Tax Act, Part LIII
April 20, 2007 · Category: Education
Another two short sections and we're finished with Chapter 8:
`SEC. 805. BASIC INTEREST RATE.
`For purposes of this chapter, the basic interest rate with respect to a debt instrument, investment, ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part LII
April 18, 2007 · Category: Education
I'll try to cover two short sections today:
SEC. 803. TIMING OF TAX ON FINANCIAL INTERMEDIATION SERVICES.
`The tax on financial intermediation services provided by section 801 with respect to an ...
Posted by James Kidd · 14 Comments »
The Fair Tax Act, Part LI
April 17, 2007 · Category: Education
Moving on with Chapter 8, which defines bad debts:
SEC. 802. BAD DEBTS.
`(a) In General- For purposes of section 205(a), a bad debt shall be a business debt that becomes ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part L
April 16, 2007 · Category: Education
OK, we begin Chapter 8 which is all about Financial Intermediation Services. This is odd stuff to many people so I expect many questions. The first section determines how much of what you ...
Posted by James Kidd · 5 Comments »
The Fair Tax Act, Part XLIX
April 13, 2007 · Category: Education
Section 706 deals with one of the stickier areas of any tax law: Non-profit organizations.
`SEC. 706. NOT-FOR-PROFIT ORGANIZATIONS.
`(a) Not-for-Profit Organizations- Dues, contributions, and similar payments to qualified not-for-profit ...
Posted by James Kidd · 25 Comments »
Landlords and the FairTax
From reader Nathan T:
First let me say congrats on the excellent website. I have been really curious what all the talk is about the fair tax and your site had many of the answers ...
Posted by Joshua Zader · 16 Comments »
