Thursday, January 24, 2008
Double Taxation - Could this be?
I didn't know this. Did you?
It sure changes my perspective.
Now, I'm looking carefully at anyone who advocates the "fair tax"...
It sure changes my perspective.
Now, I'm looking carefully at anyone who advocates the "fair tax"...
At TownHall.com, Hank Adler informs us:
"H.R. 25, the legislative proposal inappropriately named the FairTax, would eliminate the Federal income tax and replace it with a national sales tax. It is axiomatic that if enacted, those individuals who have saved money during their lives would be faced with double taxation. (Under the Fairtax, someone who earned $1000 and paid income taxes of say, $250, would find his remaining $750 subject to a 30% sales tax on all retail purchases.)"
