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To: TheMightyQuinn
Business expenses are not taxed nor are equities.

So because of my business I would never have to pay another tax except for food? I like this tax : ) Everyone I know will like this tax too : )

So who will fund the government?

134 posted on 01/14/2008 2:24:29 PM PST by LeGrande
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To: LeGrande
So who will fund the government?

Anyone who makes retail purchases.

142 posted on 01/14/2008 2:49:16 PM PST by TheMightyQuinn
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To: LeGrande
Business expenses are not taxed nor are equities.

So because of my business I would never have to pay another tax except for food? I like this tax : ) Everyone I know will like this tax too : )

I could be mistaken, but here's how I understand sales taxes, and I would expect the Far Tax to work. Office supplies are taxable; for example, if you buy a ream of paper to print out records or memos, it's taxed. If you're in the office supply business, you don't pay tax on a ream of paper; you collect the tax when you sell it. If you publish books, you don't pay tax on paper or ink; you collect the tax when you sell the book.

That's the difference between a retail sales tax and a value-added tax; the former is intended to tax each product once, the latter at each stage where value is added. For example, under the VAT as used in the EU, you'd pay tax on the paper and the ink, and then collect the tax again when you sell the book.

156 posted on 01/14/2008 4:15:29 PM PST by ReignOfError
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