I on the other hand, engineered the largest tax-free family business transfer ever up to that time, and successfully fought of a number of attempts by the IRS to get even the first bite at the apple.
No wonder you don't want a tax on consumption. Almost anything you buy with your after tax inheritance would be taxable.
My business continues to grow to just south of $200 million, in an industry that is currently running around like chicken little screaming "the sky is falling"...
OMG. You must be in the building supplies business. The slow down in housing starts must be pretty scary.
... in our industry, which is 80% retail.
At least you can sell home improvement supplies to homeowners and remodeling contractors. No wonder you are so concerned about that 23% (or 30%, depending on your perspective) sales tax.
I spend exactly zero time worrying about the IRS, or the income tax. That 65% that's left over is a mighty nice chunk of change, and allows me to perpetuate and grow the business, and keeping in fit shape for the next generation coming along shortly.
Just two more questions please. How can you spend any time growing your business if you are on FR 24/7? And, do you really pay 45% of what you earn to the IRS. If you did, you should be more supportive of the FairTax. Or, do you have an army of tax accountants and lawyers to provide you with ways to shelter most of your income so that you have no need for the FairTax?
Is there some reason you can’t answer a post on the original thread?
Ain't it just peachy-dandy, knowing such people? Makes one want to throw up.