Conversation #24: You pay for the taxes

This happened about 2 years ago... While walking around the mall, we pass my People's Jewelry where they have big banners on diamond rings. The first banner costs $3000, the second banner $2000 and the last one was $1000.

ME: "Patrick, you study real hard so that you can afford to buy me a diamond ring someday."

We were on the first banner then, priced at $3000.

PATRICK: "Mommy, that is very expensive!"

Then he saw the third banner, priced at $1000.

PATRICK: "Ok Mom. I will buy you this one only. But you pay for the taxes!"

ME: "Patrick, if you can afford to buy me this one, taxes shouldn't be a problem to you too." [FYI: Taxes for a $1000 item will be $50, that's 5%.]