[Chugalug] Did you hear? The IRS wants your Bitcoins!
dave at brockmans.com
Wed Mar 26 19:20:14 UTC 2014
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On 3/26/2014 11:49 AM, DaWorm wrote:
> On Wed, Mar 26, 2014 at 10:22 AM, William Roush
> <william.roush at roushtech.net <mailto:william.roush at roushtech.net>>
> Consumption based taxes are extremely regressive, you take most of
> the tax burden from the richest in the country and distribute it
> between the lower and middle class.
> Let's say I make $50,000 and there is a 10% national tax. I spend
> all of my money every year, so I pay $5,000 a year in taxes. So
> my effective rate is equal to the nominal rate of 10%.
> Let's say you make $500,000, and only spend $300,000 every year, so
> you only pay $30,000 in taxes. That would make your effective tax
> rate only 6%. So this must be regressive, correct?
You just perfectly illustrated his point....
"Some things in life can never be fully appreciated nor understood
unless experienced firsthand. Some things in networking can never be
fully understood by someone who neither builds commercial networking
equipment nor runs an operational network." RFC 1925
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