That's why my income tax was over 6 figures. Under the fair tax it would be over 7 figures.
Hard to say, Rongie ... but I'm afraid I'd have to admit I'm a bit skeptical since that would mean you'd be spending on taxable consumption something like $4,500,000.
If the amount of tax you pay with that sort of income stream is really a concern to you (it wouldn't be to me if I were able to consume at that level, but hey, that's me - penurious), then you might think about buying a few fewer used cars and houses each year rather than so many new ones.
(Or, of course, you could donate - say $250,000 to FR; I'm sure they'd appreciate it). If as you say you do your own bookkeepping with one hand tied behind your back with a dull pencil - and your tax returns as well, how is it you get nicked so much for taxes??? There are zillions of ways to cheat ... pardon "minimize" ... income taxes right now? There are even lots of CPAs on the threads - maybe you could hire some tax advice??
Ya, right. Assuming a 23% NRST, you would have to make a little shy of $5,000,000 in retail purchases to pay a million dollars in NRSTs.
What kind of warehouse do you have to store $5,000,000 in retail purchases per year?