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To: lewislynn
Not even when they spend it?

Any tax they pay when they spend money is a personal purchase that has nothing to do with the business. Under the Fair Tax, their business is not paying any taxes anyway. Neither would they pay taxes on any salary assigned to themselves as an employee of the business. They are currently paying an income tax. If they are fairly successful, you can bet it's higher than 23%. With the fair tax, they will pay their taxes in a different way. The benefit is the elimination of the IRS, and the fact that the Fair Tax doesn't punish productivity. like the current tax code does. The top 50% of income earners currently pay 96% of all federal income taxes. The Fair Tax shifts some of that burden off of the most productive people, and makes the folks who pay nothing start helping out. Even those folks will benefit, as the rebate check for basic necessities up to the poverty line will help them.

572 posted on 08/30/2005 7:21:28 PM PDT by SALChamps03
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To: SALChamps03
If they are fairly successful, you can bet it's higher than 23%.

I would be there is not one Fortune 500 company that pays anywhere near 23% of their gross on federal taxes.

574 posted on 08/30/2005 7:29:23 PM PDT by Always Right
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To: SALChamps03
Any tax they pay when they spend money is a personal purchase that has nothing to do with the business.
Really? You said yourself they "assign themselves a salary". From what source would they get that "assigned salary" to make their personal purchases including the 30% tax if not from their business?
The Fair Tax shifts some of that burden off of the most productive people,
What do you know about productive people?...Just wondering?
and makes the folks who pay nothing start helping out. Even those folks will benefit, as the rebate check for basic necessities up to the poverty line will help them.
You don't see any contradiction there?
581 posted on 08/30/2005 7:52:41 PM PDT by lewislynn (Status quo today is the result of eliminating the previous status quo. Be careful what you wish for)
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