Posted on 10/13/2011 2:31:28 PM PDT by La Enchiladita
How is it a VAT?
This is from a conservative blog, so you Cain freaks can’t say it’s liberal media propaganda.
The important thing is that we are talking about Cain and his ideas.
That’s good news for Cain’s campaign.
Laffer’s endorsement carries a lot of weight with me.
Note - I do favor the exemption for food and medicine, but I can understand why some would be skeptical.
VAT, FAIR, national sales tax—same thing. It’s the fastest way into the deeper end of socialism. Most people with incomes and time allowing them to participate much in politics now derive their incomes directly or indirectly from the debt regime of big government.
Refuse politics. Avoid buying anything that you don’t need, and become more economically independent. Learn to manufacture something useful as a hobby for now, even on a small scale. Starve the beast.
He’s running for president, not dictator. He won’t be able to eliminate the income tax and he’ll want to add a sales tax which of course congress will love because its another piggy bank and then they can keep increasing it. Add to that his silly response to Perry’s rock in Texas and I’m falling out of love with him and moving back into Perry’s camp.
9-9-9 definitely needs some adjusting.
9% corporate needs to allow deduction of wages (less bonuses and buyouts) from gross income.
9% income tax needs to be on just 50-75% of income to be at the same level vis a vis middle americans.
9% sales has to have a staple foods exemption.
These come first to mind, so it must be broad to include all Americans, spending will still have to be seriously cut, and tariffs will have to go up to accomodate any shortfall in receipts.
And if so, I want to know which high school, so I can send my younger relatives there - they apparently do good work! ;-)
Just a question here, not an argument:
How can you be sure sales tax won’t become VAT?
If a parts manufacturer buys raw material from a supplier, doesn’t sales tax apply?
When that parts manufacturer sells the parts to Dell Computer (for example), isn’t there a sales tax on that sale?
When the computer is sold retail, another sales tax, no?
So how is all that not VAT?
Please explain.
Ni, ni, ni, ain’t gone pass, lass!
You better start thinking folks...999 is a saleman's gimmic.
The Fair Tax has been proposed numerous times and failed, chiefly because of substituting a 23% or thereabouts national sales tax for varying income tax rates.
Is that like neener, neener??
Read the article which explains why it IS a VAT.
” If you could be relieved of paying income and payroll taxes,..”
So, with no payroll taxes, what happens to SS? How are the benefits to be funded (from general fund?) and paid out? Will it be everyone to receive the same amount?
When will Cain’s new SS plan kick in and at what cut off age, 55, 45, ? What about those who have paid in the max every year for decades but not near retirement age, when they do retire will they find themselves drawing the same as a person who paid in vey little and those on SSI?
what about Medicare, will it be funded from the general fund? Will it devolve into Medicaid, or worse yet, become Obama’s single payer government scheme?
Until these and other questions are satisfactorily answered, Cain will get ripped apart into very small pieces.
One key advantage inherent in the 9-9-9 plan’s seemingly arbitrary and superficial number choice is that none of the taxes will be so large as to motivate serious cheating or avoidance.
Even the 9% income tax will be so low that few homeowners will really care deeply, or change their ownership choices based on the loss of the mortgage interest deduction.
I’m glad you are thinking about other issues besides catchy slogans and beguiling grins.
If people want a national sales tax to be more “progressive,” then perhaps we could have a program where people under a certain income level can apply for a partial rebate. But if they want the rebate, they should have to fill out a financial statement to prove they qualify.
Yes, Jeff, what about the gasoline tax?
And what about the state taxes, on top of which we pay Cain's VAT?
9-9-9 may sound OK under a conservative president and congress, but how many years will it be before a “progressive” president and congress make it 30-30-30?
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