On Tue, 29 Mar 2005 17:20:53 -0700, Tim Killian
wrote:

Yes, the Feds on this side of the pond are eying a retail sales tax too.
They call it the "Fair Tax" and as originally designed, it was supposed
to replace our federal income tax. But now the politicians are calling
for a compromise (bend over boys!) where they would have _both_ the
income tax and the "Fair Tax" in place during a "transition period". The
net to the government would be around 30% from working stiffs, and
somewhat less for the indigent a$$holes and illegal aliens.

To think we started a revolution 229 years ago over a 5% tax on tea...

Terry Collins wrote:

There is a great bar just across the channel.


Steve Smith wrote:

A serious drawback of consistently showing a loss is that sooner or
later you get audited.
One audit will make you regret every penny saved.


1) not if you have been claiming honest deductions.

2) not if you are within the industry norms.

3) Not if you are making a loss on a reasonable turnover. In this
country, the Feds gets 10% of everything sold/serviced/provided (GST).
So they are making money anyway.