TeluguPeople
  are the trend-setters

 
Articles: Education/Training
Tax Laws
- Prof. 00782 Maverick
  Page: 1 of 2   Next > >  
Finally someone put it into terms I can understand. Let's put tax cuts in terms everyone can understand. Suppose that every day,ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: *The first four men (the poorest) would pay nothing *The fifth would pay $1 *The sixth would pay $3 *The seventh would pay $7. *The eighth would pay $12. *The ninth would pay $18. *The tenth man (the richest) would pay $59. So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until on day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20.' Drinks for the ten now cost just $80. The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men; the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

Be first to comment on this Article!

  Page: 1 of 2   Next > >  



 
Advertisements
Advertisements
Advertisements
Get the best Results!
Reach potential customers thru TeluguPeople.com, advertise with us!!
Beauty and Skin Care
For all your favorite branded products of Beauty, Skin Care, Perfumes, Makeup and more!
College Admissions in USA
Guaranteed Admissions or Processing Fee will be refunded. At USAdmissions.com
EducationAndhra.com
One-stop Destination for Information on Educational Resources related to Andhra Pradesh
News
Headline News
Cinema News
Business
Special Stories
Devotion
NRI News
Social Media
Facebook
Movie Gallery
Devotional Gallery
Twitter
Photo Galleries
News Gallery
Cinema Gallery
Beauty Gallery
Fashion Gallery
Sports Gallery
Travel Gallery
Devotion
Classifieds
Jobs
Real Estate
Automobile
Personals

Search TeluguPeople.com

(C) 2000-2019 TeluguPeople.com, All Rights Reserved.