Is it a retail sales tax or a VAT. I read both. People swear it’s a sales tax. Others swear it’s a vat.
Cain has to nail this down. His web site is ambiguous.
Cain claims there are "hidden, secret, embedded" taxes in the price we pay for goods due to the taxes on business to business that are figured into the final price of goods.
The number I've most often heard is 22%. Cain says he wants to replace the "hidden embedded" 22% taxes with a visible 9% Fed Sales Tax...
People claim the Fed Sales Tax is good because it "captures revenue from illegal immigrants" at the cash registers.
But don't illegal immigrants pay MORE NOW with the "hidden embedded" 22% than they would under 9-9-9??
If 9-9-9 replaces 22% hidden taxes with 9% visible taxes, isn't that a Revenue SHORTFALL for the Fed Govt? How does that help us when we are $15 Trillion in debt?
Both. The article is saying there is no corporate income tax -- it's a VAT.
Then you add a federal sales tax.
American business-to-business sales are deductible from the business income flat tax as are capital investments like machinery purchases.
The ones claiming there's a VAT are Paulbots and other scaremongers.
As anyone can see there's no supply-chain consumption tax.