No, actually old son, I'm the owner of a manufacturing outfit in my home state that sews high quality fabrics into shapes stuffed with polystyrene beads. I sell to retail stores. I have been in that business for a year and am doing right well. I intend to stay in it, certainly will be in it when if an NRST rools around. I wouldn't be affected by the NRST. OH MY WORD! YOU ARE CLUELESS!
The nrst, you say, won't affect you as the owner of a mfg outfit??? That is an idiotic statement. All of your ignorant huffing is shown clearly as true ignorance, again. I have a hard time accepting you are this dense.
1) under the nrst your co will no longer pay any income tax! "You wouldn't be affected" huh?
2) under the nrst your co will no longer have to collect any payroll taxes from wage earners' paychecks!"You wouldn't be affected" huh?
3) under the nrst, your co will no longer have to pay matching FICA to the feds! "You wouldn't be affected" huh?
4) under the nrst, your co will no have no need to have a budget item for tax compliance! "You wouldn't be affected" huh?
5) under an nrst, your co will not have to collect or remit ANY tax (you've claimed you sell to retailers, not to the final consumer)...so there is no tax at all related to anything your company does!!! "You wouldn't be affected" huh?
6)under an nrst, all of your employees would receive 100% of their check free of any federal deductions. The only deductions from anyone's check would be those the employees chooses to have deducted (retirement, medical, etc). NO TAX WHATSOEVER will come out of ANY employee's check! "You wouldn't be affected" huh?
It goes on and on. I am flabbergasted at your ignorance relating not only to the bill, but to the topic in general. You behave as if you're a dem shill with no idea of anything.
However, I would have to raise my prices to be able to aford what I'm used to buying with a 30% NRST. I guess you would say that could motivate me.
Talk about "not the sharpest tool in the shed"... that would be one way to describe you in regards to your posts on the subject.
Good grief, Will. I'll make this caps, bold and type it twice...maybe that will help.
YOUR COMPANY WILL NEITHER COLLECT NOR REMIT ANY TAX WHATSOEVER BECAUSE YOU DON'T SELL TO THE FINAL CONSUMER.
YOUR COMPANY WILL NEITHER COLLECT NOR REMIT ANY TAX WHATSOEVER BECAUSE YOU DON'T SELL TO THE FINAL CONSUMER.
No tax whatsoever - no income tax, no payroll tax, no anything tax.
Did you really not know this????????
However, I would have to raise my prices to be able to aford what I'm used to buying with a 30% NRST. I guess you would say that could motivate me.
Again, prices will not change. You seem to be under the mistaken impression that the nrst sales tax will simply be added to today's prices of goods and services. That's not the way it works. (I had to make sure you saw that last statement).
Prices of goods will not change much, if at all. And prices are just as likely to slightly fall as slighty rise.
You see, Will, prices will have 20-30% removed from them before the sales tax is added, obviously making prices about the same in the end result. Since there will be no income tax/compliance/fica costs associated with manufacturing, distributing, retailing, etc, the price component comprised of those items (20-30% - see numerous links to several sources on thread) disappears.
If you are foolish enough to think that retailers won't remove this component from price, then you are foolish enough to ignore the fact that comparable goods sell for comparable prices.
Proof by contradiction:
Suppose competition doesn't force prices to their lowest possible level providing acceptable return on investment. Well, if that were true, then you would see prices for milk anywhere from $2.50/ gal to $37.50 per gallon. This is a contradiction... milk prices are all about the same. Hence competition does force prices to their lowest possible level providing acceptable return.
I don't expect you followed that last bit, Will. But others will.
BTW you still haven't provided any data at all supporting your claim that FReepers are all rich.
OH MY WORD! YOU ARE CLUELESS! Why so nasty? Do I threaten your desires?
1) under the nrst your co will no longer pay any income tax! "You wouldn't be affected" huh?
So what, my 30 years of experience of payroll system says that companies spend a tiny amount collecting and sending taxes to the fed. I've already detailed the process. As far as income tax, the tax relief from fed and FICA won't near cover the 30% reaise in prices of everything new I buy.
Have you seen how companies duck most of their income taxes by adjusting their taxable gross by a slew of expenses and deduction, many at 100% of expense spent?
You don't have very much experience with the inner working of companies, large and small, do you? I have. I spend many years as a consultant.
2) under the nrst your co will no longer have to collect any payroll taxes from wage earners' paychecks!"You wouldn't be affected" huh?
Only a slight amount is spent by any company collecting and paying payroll taxes. I detailed that process already.
3) under the nrst, your co will no longer have to pay matching FICA to the feds! "You wouldn't be affected" huh?
Well now, you're right on matching FICA, but I don't pay it. Any that work for me are legitimate contract sew machine owners, so I didn't have the reference. But this and state unemployment do not add anywhere near 20%-30% to the thousands of individual items producted by a production company in a year.
4) under the nrst, your co will no have no need to have a budget item for tax compliance! "You wouldn't be affected" huh?
I don't have one now. Most businesses I did payrolls for didn't either. They just had a bank account to hold the extracted taxes.
5) under an nrst, your co will not have to collect or remit ANY tax (you've claimed you sell to retailers, not to the final consumer)...so there is no tax at all related to anything your company does!!! "You wouldn't be affected" huh?
I don't now. I use legitimate contractors. That's right there's no tax to speak of to be relieved of, so I would have to raise prices so that I would make enough money to buy the things I'm used to buying at a 30%+ increase in everything. Yes, in that way, I'm affected.
6)under an nrst, all of your employees would receive 100% of their check free of any federal deductions. The only deductions from anyone's check would be those the employees chooses to have deducted (retirement, medical, etc). NO TAX WHATSOEVER will come out of ANY employee's check! "You wouldn't be affected" huh?
See answers above.
I don't doubt that taxes that companies actually pay are passed on to the consumer. But my experience as a consultant argues against it being a significant amount.
I have had one on one experience with small and large business in exectly this area for more than two decades. I don't organize blanket theories that spin on projections based on statistical analyses, I have been right there when the events occured and helped with problems.
And I'm telling you that the notion that prices will fall after business deduct tax expenditures is false. Most of the data you link to comes from companies that produce hundreds of thousands of comsumer items a year, which is why they give price breaks on high orders. The costs spread over all these items are minimal. Your economists have their heads up their asses.
But all that discussion totally revolves around theoretically relieving the perception of of a 30%+ increase of consumer goods and services. There is no evidence that companies will take that amount out of their prices.
Competition is valid only if companies in an industry don't collude to keep the price at a certain level, which they do now.
Tell me, why don't you want to eliminate the income tax, and replace it with nothing? In 1985, the amount collected of income tax and FICA almost exactly matched the expenditures of socialist programs and welfare distributions. So it's not like we would defund true constitutional government.
Now, what the NRST will do is put off the crisis in social security. Is that what you're worried aobut?
Don't you want to remove socialism from America? If so, why do you advocate funding it?
