To: n-tres-ted
You need a clearer picture? Pull out your calculator. Let’s say that a single mother with two children spends $45 a week on groceries. The removal of the 22% embedded tax would bring the price of those groceries down to $35.10. The sales tax at 23% would be $8.07. This brings the total price to $43.17.WRONG! It would be right if it was a real 23% sales tax and not a tax "23% of the gross payment"
The groceries would cost $45.58...$0.58 MORE than before not including the new tax on taxes in "the gross payment".
$45.58 (gross payment)
Minus 23% ($10.48 gross payment tax ) equals.
$35.10
The 23% "tax of the gross payment"(including itself) is a 29.87% (30%) sales tax.
8 posted on
08/26/2004 11:20:03 PM PDT by
lewislynn
(Why do the same people who think "free trade" is the answer also want less foreign oil dependence?)
To: lewislynn
The 23% "tax of the gross payment"(including itself) is a 29.87% (30%) sales tax.30% !!!
Holy smoke, that's even worse!
If they REALLY wanted to let us keep our money, they'd lower it to maybe only 10% a do away with that phoney "rebate" nonsense.
If they have it to give back to us, they shouldn't be taking it to begin with.
11 posted on
08/26/2004 11:27:27 PM PDT by
Willie Green
(Go Alan Go!!!)
To: lewislynn
"mother with two children spends $45 a week on groceries."Yeah right! Maybe $145 a week!
31 posted on
08/27/2004 1:12:54 AM PDT by
endthematrix
("We've come a long way from John Kerry reporting for duty to Miguel reporting for booty!")
To: lewislynn
Thank you for correcting the article.
To: lewislynn
But the single mother of two would receive the prebate of her sales taxes, so would pay no payroll taxes and no sales tax. She would be far better off than now.
62 posted on
08/27/2004 8:06:08 AM PDT by
n-tres-ted
(Remember November!)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson