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To: jonestown

Yes, if I understand your question.

The confusion about the 23% is the way the bill is written. I believe it is normal for federal tax bills to be written in language that thinks about the taxation as taking a portion of what is there, not adding an additional portion to it, (the FairTax is no diferent) hence the wording being 23% of gross. It is the vendor who is required to remit the correct portion of his proceeds. If $129.87 is collected by a vendor, they would be expected to remit 23% (or $29.87) to the state on behalf of the federal government. The consumer would see this as a sales tax of 29.87% on what he would pay without the tax.


834 posted on 01/31/2005 9:52:37 PM PST by OHelix
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To: OHelix

see #836


837 posted on 01/31/2005 9:56:30 PM PST by ancient_geezer (Don't reform it, Replace it!!)
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