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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Jacques Chitte who wrote (48179)8/1/1999 9:04:00 PM
From: Father Terrence  Respond to of 108807
 
Right now, most of your earned and unearned income is taxed.

Under the National Sales tax plan, if you only spend 70% of your gross earnings, the other 30% is untouched. Therefore, if you make $100,000 you are taxed 20% on $70,000 and -0-% on $30,000. Your tax would then be $14,000. How much is paid under the current system? Depending on deductions, $20,000 to $35,000?


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