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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (72995)	3/4/2007 7:23:10 PM
From: Broken_Clock	Respond to of 306849

In reality it works this way: I pay 4% on income I receive(so does my wife). When we file GET(every month or we get penalized) we then pay an additional 4% on the taxes we charged our customers. We pay 4.17% whether we are able to collect it from customers or not. We then pay another 4% every time we buy anything(legal services, gasoline, food, medical, etc.) I can't think of a single item we don't pay 4% on. Since this tax is sloshing around the Hawaii economy likes waves in a tub(or like an echo in an New Mexico canyon), it increases exponentially with every transaction...it is estimated as being equal to a 13-18% sales tax...no one exactly for sure.