National sales tax is not a good idea at all. It makes all businesses and all members of transactions tax collectors for the fedguv. Having owned a business for most of my adult life I can tell you that state sales tax audits are every bit as onerous as IRS audits anf federal sales tax auditors will be able to reach unimpeded into intrastate commerce at their whim including every transaction between any two citizens. Careful what you wish for.
Secondly Herman turns social security and medicare into full fledged entitlement, read welfare., programs by funding same with 999 general revenues. Under 999 nothing will distinguish Medicare from Medicaid since both will be funded from general revenues.
Is this really where conservatives want to go?
I like Cains boldness but I think the details and unintended consequences are undesirable. Like Paul Ryan I think the best route is the simplest, most efficient least intrusive tax and that would be a flat tax without the thousands of pages of bs.
Medicaid should never be classified as an entitlement. The 9% national sales tax does not sound like a good idea to me..could it go up eventually? and how would Cain get it passed ...need 60 republicans in the senate to pass it
Cool. Point me to that big pile of $$ sitting in the SS Trust Fund that was built up over the last 70 years. You mean they spent it all on general gov’t operations? BTW, Cain plans drastic free-market overhauls of both MediScare and SS.
All busnesses already are. They report all their expenses, and collect payroll taxes.
OTOH, the chance to regain personal privacy and take power from the Feds is huge. Right now every citizen has to report all financial transactions. Imagine never filling out any tax forms, never filing taxes, no fear of IRS audits, and where it's none of the government's business how much you make, how you make it, or where you spend it! I would pay more just for that. BUT NO SALES TAX WITHOUT REPEALING INCOME TAX AT THE SAME TIME!
Cain has said 9-9-9 is a transitional phase to implementation of the Fair Tax.
Fair Tax eliminates the IRS...bad idea huh?
Fair Tax eliminates Congress handing out tax goodies for favored businesses...bad idea, huh?
Fair Tax eliminates corporate tax, encouraging business to invest in the USA....bad idea, huh?
Fair Tax eliminates inheritance tax, payroll tax, capital gains tax, etc....bad idea huh?
There are books available to read up on Fair Tax, I suggest you read them.