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To: pigdog
If a thing costs $100 under the FairTax, then it includes $23 of tax and the thing itself is $77. The total cost ($100 in your example) must be shown on the required receipt.

In my example, I clearly explained the cost with tax was $130.

In addition, your continued use of tex-exclusive figures isn't accurate either, since the correct t-e figure is 29.87%, not "30".

Actually, the correct figure is 29.87012987012987012987012987........but I think most sane people would accept 30% as a round figure for 29.87%.

762 posted on 06/12/2005 11:55:09 AM PDT by Always Right
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To: Always Right

Well, no, Rongie. You clearly stated something quite different. You sopecified the "cost" was $100 which (as is called out in the bill) would include the sales tax (tax inclusive, you see).

And as for the "correct" figure, 29.87% would be the normal statistical rounding to two places and NOT 30.00%. That's merely more dishonesty. Use 29.87% and I have no complaints; use 30% and it's obvious you're trying to fool people.


768 posted on 06/12/2005 12:12:16 PM PDT by pigdog
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To: Always Right; pigdog

I think most sane people would accept 30% as a round figure for 29.87%.

Why would any sane person allow a business to round a tax rate up and end up paying more than is due?

826 posted on 06/12/2005 1:28:48 PM PDT by ancient_geezer (Don't reform it, Replace it!!)
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