EFTA02184443

To: ihr From: Sent Wed 8/24/2011 7:15:26 PM Subject Re: EXPLAINING OUR UNITED STATES TAXING SYSTEM WITH BEER thanks...I know...me too! On Aug 24, 2011, at 3:13 PM, Richard Kahn wrote: thanks for update - have a nice trip shocked at how long he has been away.. Richard Kahn HBRK Associates Inc. 301 East 66th Street, Suite 10F New York. NY 10065 On Aug 24, 2011, at 3:12 PM,Srote: i leave tomorrow at 7:30am! I am forwarding the phone line to FTC... I just got off the phone with JE and he has askcd me to book him, SUe and Jen to St. Maartin next Friday Sept 2. He apparently has made other reservations like this and has cancelled them all...we will see what happens! On Aug 24, 2011, at 2:44 PM, Richard Kahn wrote: when are you off to Texas? enjoy trip.. any word when jee returns?? thanks Richard Kahn HBRK Associates Inc. 301 East 66th Street. Suite 10F New York, NY 10065 EFTA_R1_00877580 EFTA02184443 On Aug 24, 2011, at 2:32 PM, wrote: ha! good...1 thought it explained our taxing system beautifully and knew you would appreciate! On Aug 24, 2011, at 2:30 PM, Richard Kahn wrote: just read email - love it thanks going to send to a friend.. Richard Kahn HBRK Associates Inc. 301 East 66th Street, Suite 10F w York NY 10065 On Aug 18, 2011, at 10:44 AM,-wrote: Begin forwarded message: had to share this with you! I love it From: Date: Augus t 18, 2011 8:08:5 1 AM EDT To: Desk EFTA_R1_00877581 EFTA02184444 Subje ct: EXPL AININ G OUR UNITE D STAT ES TAXIN G SYST EM WITH BEER EXPLAINING OUR UNITED STATES TAXING SYST EM WITH BEER EFTA_R1_00877582 EFTA02184445 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 SI . The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay S18. The tenth man (the richest) would pay $59. So, that's what they decided to do. EFTA_R1_00877583 EFTA02184446 The ten men drank in the bar every day and seemed quite happy with the arrangement, until one 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 beers 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 custom ers? How EFTA_R1_00877584 EFTA02184447 could they divide the $20 windfall so that everyone would get his 'fair share? They realized thatS20 divided by six is $3.33. But if they subtracted that from everybody's share, then the Mb 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 roughl y the same amount and he proceeded to work out the amounts each should pay. EFTA_R1_00877585 EFTA02184448 And so: The fifth man, like the first four, now paid nothing (100% savings ). The sixth now paid $2 instead of $3 (33%savings). The seventh now paid $5 instead of $7 (28%s avings) The eighth now paid $9 instead of $12 (25% savings )• The ninth now paid $14 instead of $18 (22% savings The tenth now paid $49 instead of $59 (16% savings ). Each of the six was better off than before and the first EFTA_R1_00877586 EFTA02184449 four continu ed to drink for free, but once outside the restaurant, the men began to compar e their savings. 'I only got a dollar out of the $20; declare d the sixth man. He pointed to the tenth man, but he got $10!' 'Yeah, that's right:exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got TEN times more than I!' That's true!!' shouted the seventh man. 'Why should he get $10 back when 1 got only two? The wealthy get all the breaks!' Wait a minute,' yelled the first four men in unison. 'We EFTA_R1_00877587 EFTA02184450 didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something very important....they didn't have enough money betwee n all of them for even half of the bill! And that, boys and girls, journalists and college profess ors, is how our tax system works. The people who pay the highest taxes DO get the most benefit EFTA_R1_00877588 EFTA02184451 from a tax reduction. They also PAY more than the rest. Tax them too much, attack them for being wealthy, and they just may not show up anymor e. In fact, they might start drinking overseas where the atmosp here is somew hat friendli cr. David R. Kamerschen, Ph.D. Professor of Economics University of Georgia For those who understand, no explanation is needed. EFTA_R1_00877589 EFTA02184452 For those who do not understand, no explanation is possibl c! This e-mail and any files transmitted with it are confide ntial and intende d only for the person or entity to which it is address ed. If you are not the intende d recipie nt, you are hereby notifie d that any dissemi nation, distribu tion or copyin g of this e- mail and any attach EFTA_R1_00877590 EFTA02184453 ment(s ) is strictly prohibi ted. If you have receive d this e- mail in error please immedi ately notify the sender or by replyin g to this e- mail and delete the e- mail and any attach ment(s ) from your system. Nothin g herein shall be constru ed as a financi al promot ion to EFTA_R1_00877591 EFTA02184454 any person or person s, or a solicita tion or recom mendat ion to buy or sell any securit y or other invest ment or to engage in any trading strateg y. 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