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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