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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Kelvin Taylor who wrote (829)	3/29/1998 11:22:00 PM
From: bluejeans	Read Replies (1) \| Respond to of 5810

just so everyone really begins to think about this issue... a flat tax on everything means that an item like food may be taxed at the same rate that a house purchased or a stock or an operation or a plane trip,etc. bob

To: Kelvin Taylor who wrote (829)	3/30/1998 12:22:00 AM
From: Colin Cody	Respond to of 5810

Kelven A Flat Tax does not collect taxes "at the point of sale" I am afraid you have been mislead by Mr. Forbes or others who stand to gain handsomely by fooling the public into supporting a "flat tax". . A National Sales Tax (a COMPLETELY DIFFERENT concept) would purportedly collect taxes on retail sales "at the point of sale". . In EITHER of the above cases there are NO safeguards that would prevent massive tax evasion. Under the NST (above) there would be a SIGNIFICANT INCENTIVE for MORE tax evasion than ever before. . Under a "Flat Tax" there would probably be about the same incentive for tax evasion as we have today with the Federal income tax. . Colin

To: Kelvin Taylor who wrote (829)	3/30/1998 7:37:00 PM
From: Kansas George	Respond to of 5810

Sales tax? Kevin what about those of us who have saved after tax dollars and already paid dearly to Uncle Sam? Do we get doubled taxed?

To: Kelvin Taylor who wrote (829)	3/30/1998 8:36:00 PM
From: Kelvin Taylor	Read Replies (1) \| Respond to 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