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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Kelvin Taylor who wrote (829)3/30/1998 8:36:00 PM
From: Kelvin Taylor  Read Replies (1) of 5810
 
First, thanks for all the replies. Candid discussions about issues are a good way to view ideas and formulate new ones.

Now my response:

Bob-
Yes my idea of a flat sales tax would apply to everything. In fact few things now that are purchased are not taxed. For example the state I live in taxes food, clothing, real estate, airline tickets, electric and phone bills, water (purchased from the county), automobiles, even a tax on pets you own. So expanding a low rate say of 5-10% to everything else wouldn't be too hard. Under this system both the achievers and underachievers could share in the sacrifice of supporting an overspending government.

Colin-

A flat tax is a point of sale. To prove my point lets use an example. When you purchase an item from a store that charges a sales tax, you pay the purchase price plus tax. The tax is then sent on to the agency
In this case State Department of Revenue. If you want the stuff you pay the tax. No cheating possible here. I suppose the black market for items and personal sales from one person to another may prove hard to enforce, but the current system allows massive cheating right now.

How does Mr. Forbes "stand to gain handsomely" by advocating a flat tax? He got rich under the current system.

Kansas-

No double taxation under this plan. Sales tax would replace the income tax. Yes all the money you earn (wages, invest income, lottery, etc.) you get to keep. You choose how much tax to pay by what you buy not by how much you make. Why? Because it's YOUR money. Spend it wisely.

KT
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