Skip to comments.Taxation by the numbers
Posted on 12/19/2002 11:20:18 PM PST by JohnHuang2Edited on 07/12/2004 3:59:44 PM PDT by Jim Robinson. [history]
We need government, and that means taxes. But when we think about government spending, and the taxes needed to finance its spending, we should also think of the effects of taxation.
Suppose I hire you to repair my computer. The job is worth $200 to me, and doing the job is worth $200 to you. The transaction will occur because we have a meeting of the mind. Now suppose there's the imposition of a 30 percent income tax on you. That means you won't receive $200 but instead $140. You might say the heck with working for me ? spending the day with your family is worth more than $140.
(Excerpt) Read more at washtimes.com ...
PS I saw this first in the Washington Times and checked to see if it was posted on FR. I found other Williams pieces via keyword search but not this one. I'm afraid my first attempt at adding keywords left out the slashes in some. My apologies. Can anyone freepmail me instructions to newbies? I'd appreciate it! Merry Happy
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