Nate and others contributing to this thread:
SS benefits are not directly based on the taxes one pays in, they are determined by the individuals wages. This reporting is maintained under the FairTax.
The section of the law you included defines wages to be reported to the Social Security Administration for the purpose of determining social security benefits. The FairTax definition of wages is the same as that used currently to determine SS benefits.
As you know…
Added by Marilyn Rickert on March 29, 2010 at 7:50pm — No Comments
Sec. 202 of HR25 creates a Sales Tax Bureau in the Dept. of the Treasury. The purpose of the bureau is coordination of the state administration of the federal sales tax. As you know, the states have all of the expertise in administering sales taxes, so the FairTax takes advantage of this by having the states collected the federal sales tax along with their state sales taxes. The states can do it much more efficiently using existing systems.
The IRS is…
Added by Marilyn Rickert on March 29, 2010 at 7:46pm — No Comments