But if prices stay the same, doesn't the brand-new 9% Fed Sales Tax simply increase the cost of everything by 9%?
“But if prices stay the same, doesn’t the brand-new 9% Fed Sales Tax simply increase the cost of everything by 9%? “
Market forces will impact pricing downward under the 999 plan. As a small business owner I will take the payroll savings (fica,SSI ect) coupled with my lower income tax burden and reduce my retail pricing to grab a greater share of the market. I have already conceived of an advertising ploy that offers our customer our product at an out the door price whereby we will pay the 9%. I would hire more people and expand my operation in a heartbeat just knowing that my cap gains are no longer taxed and my overall income tax will remain at 9%. Multiply my business by millions of Sub S companies and America will rise from the ashes.