The greediest blog on the net.
Friday, August 29, 2003
I won't dispute the numbers in this editorial (I don't care to look into them). The author says 20% of the costs of goods are due to taxes. He also advocates a 25% sales tax. This is the illustration:
So, while today you're paying $400 for that 36-inch TV, once a fair tax system kicked in you'd be paying $300, plus a $75 consumption tax.
I believe that 80% of $400 is $320, not $300. Thus, the 25% tax would be $80, not $75. The mistake in math makes it look like the price of goods would go down, when in fact it would stay the same.
This just goes to show that UK is a sorry excuse for the nickname Wildcats.
Posted by Gel 9:57 AM Post a Comment
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