"Income taxes are not an expense."
There are five major categories of financial data:
1. revenues
2. expenses
3. assets
4. liabilities
5. owners' equity
Since income taxes are not an expense, which of the other categories would you place them in? Ok, they can be a liability, but only up until the time they are paid.
"Your use of both rates is an anomaly among those pushing this new scheme."
Incorrect again. It is an anomaly that income taxes and sales taxes have historically been calculated using different methods. It hasn't come up before since no one has suggested replacing income taxes with sales taxes before. If you ignore the difference in calculation method, you introduce a bias in favor of income taxes. That is to say, that the exact same amount of taxes relative to the exact same amount the taxpayer is left with after taxes would be expressed as a lower percentage as an income tax using traditional methods and mislead some into thinking they are paying less under an income tax regime. Of course, if you have a bias toward the current horrid system, you probably say "what is wrong with that?"
BTW, I have noticed that the term "scheme" is a term of disparagement widely used on FR by those who want to maintain the current dysfunctional system. However, few of those will admit that to be their real objective. Apparently, the current system is so widely despised that even those who have carved out a nice niche for themselves and want to keep it for some perverse reason won't readily admit it. They just attack the leading threat to their little game, magnifying every defect (real or imagined), all the while pretending that they actually support tax reform, just not this type of tax reform.
They just attack the leading threat to their little game, magnifying every defect (real or imagined), all the while pretending that they actually support tax reform, just not this type of tax reform.
It can easily be concluded that K street lobbyists respond the same way.
Just not on these threads. But perhaps I'm mistaken and some do. In the end, is there a difference? Only by degree.
Fear and Loathing of the Status Quo Lobbyists.
HA! HA! HA! HA! HA! HA!
HA! HA! HA!
Laughing them out of existence.