Tuesday, January 10, 2012

Federal Tax Increase will wipe out Income Tax?

I overheard a conversation at lunch today. Two men were talking about the possibility that if every state raised their sales tax by 1%, the combined yearly total for the extra 1% of every state going to the Federal Government would eradicate the need for Income Taxes for John Q. Public and we would enjoy a larger paycheck. Any mathemeticians out there able to do the math on this?

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