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[OM] Re: paypal

Subject: [OM] Re: paypal
From: "Sue Pearce" <bs.pearce@xxxxxxx>
Date: Sat, 25 Oct 2008 13:46:01 -0500
Flat tax, at least as proposed here hits middle in a most unpleasant way. 
Anyone who presently itemizes their deductions will most likely lose, as 
they will pay all t he tax with no means to reduce it.

Bill Pearce
----- Original Message ----- 
From: "John Hudson" <OM4T@xxxxxxxxxxx>
To: <olympus@xxxxxxxxxx>
Sent: Friday, October 24, 2008 7:44 PM
Subject: [OM] Re: paypal


>
>
> What's wrong with a flat tax .............. back a few years ago Hong 
> Kong's
> flat tax on wages and salaries was 15%, there was no capital gain tax and 
> no
> sales or consumption taxes. The place thrived. Today it booms but I think
> the flat tax got hiked to 16% or 17%.
>
> jh
>
>
>
> ----- Original Message ----- 
> From: "Andrew Fildes" <afildes@xxxxxxxxxxxxx>
> To: <olympus@xxxxxxxxxx>
> Sent: Friday, October 24, 2008 5:27 PM
> Subject: [OM] Re: paypal
>
>
>>
>> A flat goods and services tax advantages the middle-class somewhat -
>> there's only so much that you can consume. That's why unprocessed
>> foods were exempted. Shame the lower classes tend to prefer
>> Macdonalds. And it really is a tax on everything, including a postage
>> stamp and an insurance premium. The aim is to recognise that we live
>> in a tertiary economy - most 'stuff' is manufactured in China (10%
>> import duty into Aus) but we make our living these days by cutting
>> each other's hair and lawns. Unlike the European VAT, however, it's
>> largely invisible to the consumer except in the case of a pure
>> service such as an auto repair where a labour charge is listed.
>> Because my 'fee for service' work, like journalism, falls below a
>> certain threshold ($50K p.a. turnover) I don't have to bother with
>> declaring it or remitting it to the government thank goodness.
>>
>> It should not be confused with the occasional mad proposals for a
>> flat income tax - that's an entirely different basket of snakes.
>> Andrew Fildes
>> afildes@xxxxxxxxxxxxx
>>
>>
>>
>> On 25/10/2008, at 5:09 AM, Ken Norton wrote:
>>
>>> A flat tax would never fly here because of the class warfare which is
>>> inherent to our culture.
>>
>>
>>
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>
>
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