Posted on 10/10/2011 9:05:29 AM PDT by justsaynomore
No, 999 is not a VAT, it is on the final point of sale.
VAT taxes every level of production and hides the cost of the tax inside the cost of goods. It makes all business the Government’s cut out tax collector. Therefore VAT is a much more opaque and different form of taxation then a Sales Tax.
The fact that gets me is that Cain’s book is a bust. Not even on Amazons top 100.
His FEC filing showed that he was making dinations to his campaign from his own Corporation. Then in Expenditures he list his Corporation as a vendor. In reality moving money to make it look like he is raising money.
His refusal to attack Romney. Yet he attacks Perry without basis.
Now he’s running around doing my daddy’s goal was to buy a Cadillac. What is THAT?
typical sterotype of Blacks.
NAH he’s working WITH ROMNEY.
My questions: What will a 9 percent sales tax do to people who already pay up to 7 percent in sales tax? How will it affect revenues for those states when people start buying less? ...Does a national sales tax mean we can get rid of punitive taxes taxes on things like alcohol, cigars and fuel? If 9-9-9 works to balance the books for the government we have, why not go 7-7-7, and balance the books with a smaller government? Maybe that could create a movement that would get us to 5-5-5. Can we also have a moratorium on fed growth?
I doubt 9-9-9 will ever see the light of legislation, but it is a good conversation starter on tax reform and smaller government.
Everyone pays 15.3% FICA
9% income tax replaces FICA too.
Cain’s plan is FAR TOO CONSERVATIVE on how much the base would expand.
He could implement a 9 - 9 - ZERO plan, and the Federal government would still end up with an enormous surplus provided it simply froze spending in place (minus Obamacare)
I think it would be far easier for him to pass a 9-9-0 plan than it would be to add a new federal revenue engine in the form of a national sales tax.
No matter how you slice it, a federal sales tax is going to cut into state/local government’s ability to generate revenue the same way they do today.
We would be seeing states and local governments shifting taxes to more hidden areas, and raising income taxes at their level in order to compensate.
I say LEAVE THE SALES TAX OUT OF THIS Herman!
Other than that, Cain has my full support!
Sales tax revenues are vulnerable to economic downturns. When the economy tanks, so will government revenues, at the very time you need government to provide support through the safety nets.
Income tax is much more stable and not as subject to the vagaries of consumer psychology. And there is nothing unfair about a progressive income tax as long as top rates don’t become unreasonable. Those who earn more use more services. Though there is something to be said for almost everyone paying a share no matter how small to have some ownership in the system.
If you put income tax and sales tax in, you’ll end up with both rates rising.
Sales tax revenues are vulnerable to economic downturns. When the economy tanks, so will government revenues, at the very time you need government to provide support through the safety nets.
Income tax is much more stable and not as subject to the vagaries of consumer psychology. And there is nothing unfair about a progressive income tax as long as top rates don’t become unreasonable. Those who earn more use more services. Though there is something to be said for almost everyone paying a share no matter how small to have some ownership in the system.
If you put income tax and sales tax in, you’ll end up with both rates rising.
The problem is not the tax code. The problem is the trade agreements. Where are the tariff revenues? We’re taxing individuals 9%, and corporations 9%, how much are we taxing imports from other countries? Average tariff is 1.3%. And the consumer will pay 9% regardless of who he buys it from. So foreign competitors are at an advantage.
The rates are temporary and during that time will require 2/3 majority to change.
999 is just phase one bridge to the Fair Tax. http://www.fairtax.org is packed with information and answers to most sales tax questions.
Will the sun rise in the east tomorrow too?
Spoken like a true “moderate.”
Conservatives don’t support expanding the federal tax system to increase the power and scope of the IRS. That is exactly what Cain’s plan would do and why I oppose it.
This highlights Cain’s inexperience and lack of good judgment. We are electing the POTUS, not the President of Godfathers pizza. LOL
“He IS a politician worked for John Connally and Romney.”
Sheesh—I’ve worked on campaigns, too. Does that make me a “politician”? My family would be surprised to hear that bit of news.
“Perry will not be that easy. Bet on It.”
I have nothing personal against Perry and I don’t think beating him will be easy. I just think Cain is the better man for the job at this time.
Sorry I can’t trust a man that plays games with FEC filings.
And gives employees the Ken Lay treatment. then turns around and claims he cause some miracle to a Company that is barely surviving.
He is not an honest man. THAT is the problem I have with him.
So he IS a politician after all....
Too bad this thread is about done.
Cain, if you want my vote and a lot of others’ you’d better drop the sales tax now.
We can’t compete with China and other countries that are not subject to similar regulations as ours. If you tax their imports you are inviting a trade war. Use common sense and reverse all of the regulations that are destroying our competitiveness. ALL OF THEM!
Too bad this thread is about done.
Cain, if you want my vote and a lot of others’ you’d better drop the sales tax now.
We can’t compete with China and other countries that are not subject to similar regulations as ours. If you tax their imports you are inviting a trade war. Use common sense and reverse all of the regulations that are destroying our competitiveness. ALL OF THEM!
The sales tax is not negotiable because it is the key to phase two of his plan which is the FAIR TAX.
The best place to get information about the Fair Tax is http://www.fairtax.org
And he has already said that he would fight to reverse regulations. One of his biggest targets is the EPA.
That’s the first thing I think of as well.
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