Cain stated on Huckabee Saturday that Social Security would not count as income tax and there would be no tax on any savings plans including 401k’s.
As for the price of goods and services here you go.
Examples of How Taxes are Hidden in the Price of Goods
Americans for Tax Reform (ATR) has calculated several examples of how taxes affect the purchase price of several goods and services. The ATR figures include the impact of all taxes — not just certain hidden taxes — on prices. According to ATR:
• Taxes account for 35 cents of the cost of a $1.14 loaf of bread.
• 18 cents of a 50-cent can of soda go toward taxes.
• 72 percent of the cost of a 750-ml bottle of liquor goes toward taxes.
• Taxes for an $80 hotel room average 43 percent.
• Taxes account for $63.60 of a $159 airline ticket.
• A $153.09 monthly utility bill consists of $39.35 in taxes.
• Over half the cost of a $1.33 gallon of gasoline is due to taxes.22
A 1992 Cato Institute study looked at taxes somewhat differently, calculating how much someone needed to earn to have enough after-tax dollars to purchase several products. The study concluded that a typical worker needed to earn $17,038 to buy a $10,000 car, and $2,556 to purchase a $1,500 computer.
Now look at the cost of that $10,000 car with the 999 plan.
10,000 multiplied by .09 (Business tax)+.09 (Sales Tax)= 10,000 multiplied by .18= $11,800
$11,800 Cains 999 plan
$17,038 current plan
You tell me which one is better.
So a retiree would only pay for the 9% sales tax compared to the hidden 22% average they pay now.
Horse crap!
You are telling me no one pays 9% more on earnings already taxed and saved?
Weasel words
You show me where Mr Cain exempts current savings from a 9% tax.
I think your wasting your time
“Cain stated on Huckabee Saturday that Social Security would not count as income tax and there would be no tax on any savings plans including 401k’s.”
Care to point that out in the ‘plan’ on his website?
I read it and it says nothing of the kind.
The OP posts numerous pro Perry threads per day w/cult-ish Perry followers chiming in.
They don't want an honest conversation or vetting. They really want to tear down any candidate that has better ideas (even one idea beats Perry's "I'll get back to you" non ideas) and is ahead of Perry in the polls.
I wish there was a like button, thanks!