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Price Versus Cost

wdwrkr Wrote: Apr 17, 2013 12:09 PM
Repeal the 16th amendment and eliminate Federal taxes on individuals. The Federal gummint should tax the states. How the states get the money to pay their Federal tax is up to each state. To raise the necessary tax revenue a state may have an income tax, sales tax, property tax, lottery, etc.. Whatever is decided by the residents of the state.
Suppose you buy a gallon of gas for $3. How much did it cost you? You say, "Williams, that's a silly question. It cost $3." That's where you're mistaken, because there's a difference between price and cost. To prove that price and cost are not the same, consider the following. Suppose you live and work in New York City and routinely pay $15 for a haircut. Imagine you were told that there's a barber in Boise, Idaho, who can give you the identical haircut for just $5. Would you start going to the Boise barber? I'm betting you'd answer no because...
Related Tags: Taxes