on 5/19/02 3:00 PM, John Hudson at jahudson@xxxxxxx wrote:
> The only person who
> cannot claim any of the tax back is the ultimate consumer. To the
> consumer the tax is a sales or consumption tax. Down the chain back from
> the original consumer the net effect of the tax is an incremental tax on
> value added at each stage up the chain, hence the term "value added".
>
> Voila ...... today's accounting and tax lesson!
>
> jh
In the US they've talked about a 'national sales tax' which would I believe
be just another hand in the pocket. I personally would prefer some kind of
less loopholed income tax, as sales taxes of any kind are most regressive.
Is there some way for the ultimate consumer to get back any of the tax when
he sells the (now used) item? For instance, if I buy an auto, I pay a large
amount of tax, but when I later sell the auto...? I'm stuck and the next
buyer of the used car pays yet another large tax??? That doesn't see fair
enough to elect anybody... In the US we can deduct our state and local taxes
from our income for federal income tax calculation, so we are not 'taxed on
the tax money' twice.
But I sincerely believe that there is no limit to the good things that our
government can do for us, if we only give them more money, so I watch with
interest how they tap into our pockets. My income is moderate (when I am
actually employed - now its none) but I calculate that for every $1 I can
spend for myself I must earn $2 from working. In my moments of lack of
appreciating just how many good things my governments (at all levels) is
doing for me I sometimes (insanely) feel that that is a bit expensive for
what I am getting...
--
Jim Brokaw
OM-1's, -2's, -4's, (no -3's yet) and no OM-oney...
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