Now that the election is over, I'll dare to venture into this thread, but only to make a clarifying point. Since taxation is one of the areas that I do, I'll point out that the FairTax proposal re-introduced last year as H.R. 25 contains a 23% sales tax calculated on a tax inclusive basis, which is a valid method of stating a tax, but which is sometimes misunderstood. State sales taxes are calculated on a tax exclusive basis, i.e. on the cost of the goods or services before the tax is applied. $100 purchased subject to a 23% tax inclusive rate doesn't result in a tax of $23, but rather one of about $29.90. The formula to convert the tax inclusive rate to the equivalent tax exclusive rate is [1/(1-.23)]-1, or about 29.9%, the tax exclusive rate equivalent to a 23% tax inclusive rate. In other words, of the total cost of $129.90 including tax, the $29.90 tax would be 23%.


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Enjoy the music, not the equipment.