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Reply #13: Here's how it works: [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
boppers Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-05-11 05:07 PM
Response to Reply #5
13. Here's how it works:
Farmer buys seed for a crop. 2%.
Mill purchases seed. 2%
Bakery purchases flour. 2%
Restaurant purchases buns. 2%
Restaurant sells hamburger. 2%

On that hamburger purchase, you will be paying 2% in direct taxes, but every ingredient will have been taxed all the way back to its origins, every time it changed hands. Think about some thing with a huge supply chain, say an automobile.... every part would have a 2% tax added to its cost, for all but the most vertical industries and products.
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