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"Fair tax" formulaI have studied and studied the tax change proposal called "fair tax,"if there is such a thing. P (purchases) X V% = I Where P = purchases; V = variable sales tax; and I = intermediate actual tax before the following is added: (X means "times") I X the daily V% X age divided by months in year left = M Where M = minimum sales tax. If it is a government purchase, divide the result of the above formula by the formula itself, and you will get 1. Multiply the 1 X 0, and that will be the tax on a Bomber! Now some will pay more than the M tax, (minimum)! |