--- "Robert A. Book" <[EMAIL PROTECTED]> wrote: > If the income tax were eliminated, which of the following would be > true? > a) You would have less money, since you would lose your > annual tax refund.
What? The refund comes from that part of your income that you overpaid in taxes! Fred Foldvary > b) You would have more money, since income taxes would not be > withheld from your paycheck. True for almost all wage earners. > c) You could have more or less money, depending on whether > your annual tax refund is more or less than the total > amount withheld from your paycheck over an entire year. You would have more money and never less, because nothing would be withheld. Only if one gets a tax credit in cash greater than tax liabilities would one gain. Fred Foldvary
