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Non-Tech : Who Really Pays Taxes?
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To: BWAC who wrote (643)1/7/2003 10:21:00 PM
From: Mana   of 666
 
On this National Sales tax thing? What happens if you spend more than you make? Is that like going on margin?

The same as what happens today. You go into debt, your get bad credit and then good luck getting a loan or a credit card... No, not like margin at all.

I think you are looking at this wrong.

Under a National sales tax, all federal income tax is abolished. This means more money in your paycheck. To make up for this loss of revenue, the govt adds a sales tax of 18% to all goods. If a person buys a DVD, a 18% tax will be added on to the cost. If they don't have the money they can't make a purchase. That simple. Your tax obligation depends on what you buy. It allows for more individual freedom.

There are several ways you could do the exemption. You could send quarterly checks of $2500 or some sort of debit card could be used.

Is it the perfect system? No but I believe it would be better than the current system and slightly better than a flat tax.
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