Re: (OT) Bet you're gonna wish for the Fair Tax now...

"The Pinnacle of Cynical [was LH]"
<llllkkkldhzztrd@don'tspamstopthespamminggmailspot.com> wrote in
news:llllkkkldhzztrd-649588.16205303022008@xxxxxxxxxxxxxxxxxxxxxxxxxxxx:

In article <13qc3pkcacvce09@xxxxxxxxxxxxxxxxxx>,
"Lord Gow333, Conservative Fullback!" <lordgow@xxxxxxxxx> wrote:

"The Pinnacle of Cynical [was LH]"
<llllkkkldhzztrd@don'tspamstopthespamminggmailspot.com> wrote in
message
news:llllkkkldhzztrd-9526AB.02193503022008
@newsclstr03.news.prodigy.ne
t...
In article <60krvoF1qbgr4U1@xxxxxxxxxxxxxxxxxx>,
"Butters" <buttersrspw@xxxxxxxxxxxxx> wrote:

"Lord Gow333, Conservative Fullback!" <lordgow@xxxxxxxxx> wrote in
message
news:13qab3qeq61ho57@xxxxxxxxxxxxxxxxxxxxx

"Butters" <buttersrspw@xxxxxxxxxxxxx> wrote in message
news:60k4bqF1r3pqlU1@xxxxxxxxxxxxxxxxxxxxx
"The Pinnacle of Cynical [was LH]"
<llllkkkldhzztrd@don'tspamstopthespamminggmailspot.com> wrote
in message
news:llllkkkldhzztrd-0A7397.06270802022008
@newsclstr02.news.prod
igy.com. ..
In article
<b48b100b-0647-41ba-a9b2-44d23ffc4284
@d70g2000hsb.googlegroups.
com>, "Torrey M. Spears" <nwophoenix@xxxxxxxxx> wrote:

On Feb 1, 10:38 pm, "The Pinnacle of Cynical [was LH]"
<llllkkkldhzztrd@don'tspamstopthespamminggmailspot.com>
wrote:
In article <13q7d6uks5jm...@xxxxxxxxxxxxxxxxxx>,
"Lord Gow333, Conservative Fullback!" <lord...@xxxxxxxxx>
wrote:


The cost of everything rising 30% will never work.


you, of course, understand the fair tax is a 23%

Incorrect. It is 30%. The 23% figure is a lie from the
proponents
of
the fair tax. The price of an item is $1.00. After applying
the tax the
price will be $1.30. That is an increase of 30%. The fair tax
people say
"30¢ off of $1.30 is 23%." Well it is. But that isn't when the
percentage increase was applied. It's a fucking lie. The
government gets
23%. From the new figure. The percentage of increase on the
product is
actually 30%.

consumption tax that
would be embedded into the cost of goods sold - i.e. a 50
dollar camera would cost you 50 dollars, not 56.23 - and the
23% of that 50 dollars would be the consumption tax - which
would go straight to the
gub'ment.

Completely wrong. The price "embedded" would increase the
price of
a
product. The industries are not going to lower the cost of an
item and
take the loss because they have the pay 23% of that to the
government.
No. That $50 camera is going to increase 30% in price so that
23% of that will go to the government.

So using your $50 example. The camera costs $50. Add 30%
markup.
The
sales figure on the floor will be $65. The government takes
23% of that
so that the retailer will make their $50 from it. What your
suggesting
is complete bunk.


I was under the understanding if the product has a price of $50
now, it'll have a price of $50 in the future. The difference is
the sales tax
gathered. Right now, I pay 7% in sales tax, so the items costs
a total of
53.50 after tax. With the fair tax, that $50 item after tax
would cost $65. The extra $11.50 goes to the government.

Is this right? Gow, TMS? Am I off base?

The sales tax you pay now is a state entity and will probably
remain unchanged.

The fair tax is deducted from the sale price by the merchant and
sent in
to the government. You never see it happen. It would seem that
the merchant would then have to raise his price to make the same
money, but don't forget that he, the trucker, the distributor,
the manufacturer, etc.
are no longer paying any income tax and are therefore not
including that
into the price of their services. The item then arrives at the
merchant's
door cheaper than it used to, so after he adjusts his price to
cover the
FairTax you will pay about the same.

LG

Thank yew! That's exactly what I was looking for. Not the answer
so much, but the brief, concise explanation. Need to check the
book out agayne.


I also have a book for you about unicorns and leprechans.

Ya know, while I was on Amazon just now I noticed there was an
opposition book about the FairTax so I checked it out. In the ranks
of Amazon customers, hardly a Conservative stronghold, said book
received no fewer than 20 one-star ratings out of 20. As you can not
rate items at zero stars go ahead and draw you own conclusion.


Yes. I'm obviously the type to care what the mass population thinks
and base my opinion on that. You sure got me right!

The FairTax is coming, Bub. It's just a matter of when.



The day that is signed into law with the 16th Amendment is repealed
at the same time, I will eat your hat.


Stefan, dear, being that you are a self-declared cineaste, wouldn't the
more appropriate object of your mastication be a shoe? You know, like
Werner Herzog said to Errol Morris? Were they talking about "Gates of
Heaven"?
.