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To: nsmart

Percent, please.


19 posted on 02/13/2005 10:56:43 AM PST by truth_seeker
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To: truth_seeker
I say the sales tax rate is 30%... it will add 30% onto the shelf price. Of course, with no income/payroll tax system, prices will drop by that much before the sales tax is added... making prices stay about the same.

Another way to look at the rate is percent of spending absorbed by the tax. That rate is 23%... Buy an item for $77 and there's 23 tax ... 23/100 = 23%... this is how income tax is figured - I use this rate to compare to today's system...

Hope that helps

22 posted on 02/13/2005 11:04:54 AM PST by Principled
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