SORA Fairtax or shared direct taxation is a double entry tax system where each tax is split between the buyer and the seller. The seller's payments for each transaction must match the buyers'.
Tax burden is borne by the seller who must pay on behalf of the buyer. Receipts must be analyzed to determine correct tax payment
Tax burden is split evenly between buyer and seller. Tax payments are checked by comparing the tax payment of the buyer and seller in a sample
SORA Fairtax categorizes taxes according to three classes: Tax on fixed capital, called rent taxes , tax on circulating capital, called profit taxes , and Tax on personal capital, called wage taxes . The rent taxes counteract the natural idleness from wages taxes, the profit taxes counteract the natural rent-seeking behavior from rent taxes, while the wage taxes counteract the natural oligarchy tendency from profit taxes.
SORA Social Fairtax refers to the double-entry system on the three tax classes where the interest of the buyers, renters, and employees checks the interest of the sellers, landlords, and employers, and the public interest of the government checks the combined interest of the two parties, who then check the government through elections. The simplicity of the system empowers everyone to check each other!