“...Cain’s 9-9-9 idea is an economic apocalypse for he private sector. He’s advocating a whole new level and class (wealth tax) of taxation without getting rid of the previous system. “
I find it interesting that the former Fed director has this great idea of taxes us MORE. And is running for Pres, and against the Marxist running for the Dems. And without mention of getting rid of the current IRS system.
I don’t think that it is all just a coincidence.
The government and the FED need more taxes to keep their pathetic system going. What better way than to dupe the Repubs into MORE taxes?
The US bureaucrats look with longing on the European model and salivate over the prospect of inflicting the same system on us. Currently Most European countries' governments plunder between 40 and 48% of their respective GDPs primarily because they have BOTH an income tax and a national sales tax.
The USA "only" loots about 19% of the GDP because an income tax allows avoidance strategies - deferring income etc. A sales tax is essentially unavoidable. Your money does no good until you spend it, and then when you spend it you get taxes. A national sales tax also gives the double whamnmy to anyone with savings (wealth), because if you have savings, you were taxed on those savings, and now they're going to want to tax you again when you spend he savings. It's an economic nightmare for the working class who make up the private sector and a wet dream for the looting class that makes up government.