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To: Chances Are
Let's see here. The retailer gets your 100 bucks. OK. Then, as you say, he sends off $30 of that to the taxing authority. Hmmmm. Looks like he ends up keeping $70. And $30 goes to the taxing authority. Hmmmm

No, the retailer collects a total of $130 from the customer. The retailer keeps $100 and sends $30 to the taxing authority.

What happened to 23%?

The 23% is the after tax percentage. 23% of the $130 is roughly the $30 tax.

What did you say was your major in school again?

An electrical engineer. Never got below an A in any math course including a year calculus and statistics. Can't say that for any of my other classes though. Thanks for your concern, but it is not me who is confused.

741 posted on 06/12/2005 10:49:43 AM PDT by Always Right
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To: Always Right
Thanks for your concern, but it is not me who is confused.

Right. I mean, how could you ever be confused? After all, you're 'Always Right'! Right? Even when you're wrong....

746 posted on 06/12/2005 10:54:07 AM PDT by EternalVigilance ("Quality of life": Another name for the slippery slope into barbarism...)
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