This guy lost me at the "pony up another 40% or so" line. How someone can be so misinformed about the topic they're writing about and expect to be taken seriously is beyond comprehension.
You've got that right. The author is an idiot.
EXACTLY! The same can be said for those who say "A NRST would hurt the poor" or "A NRST would hurt retirees".
Nothing could be further from the truth and anytime you hear folks arguing against the NRST based on this sort of logic it is proof they either don't understand the concept or they don't want to understand the concept.
Taxes are power. Power corrupts and absolute power corrupts absolutely.
I agree. He is misinformed. It's more like 50%.
"This guy lost me at the "pony up another 40% or so" line. How someone can be so misinformed about the topic they're writing about and expect to be taken seriously is beyond comprehension."
Exactly my impression. A. the tax will probably be 16%, B. the person buying the item has his full paycheck (without deductions) to pay for the item.
$100 plus 8% state/local tax = $108
$108 plus 29.87% (federeal sales gross payment tax) = $140.26 (gross payment) or 40.26% total tax.
23% "of the gross payment" = $32.26 or 32.26% federal sales gross payment tax.
`(b) Rate-`(1) FOR 2005- In the calendar year 2005, the rate of tax is 23 percent of the gross payments for the taxable property or service