Posted on 10/16/2011 2:32:45 AM PDT by Cincinatus' Wife
If you are a business producing a retailed product and your income tax went down from 35% to 9%, and you got competition, you saying that prices won’t dive?
I understand it, I understand the allure of it and I also understand the reality of how Washington gets a hold of these things.
I read in the Washington Post on line that there has been a bit of back tracking on the 9% income tax on poverty level citizens. I want another source but my gut told me that was coming anyway. The next perversion of it will be exemption on those over 65. We already have an exemption for economic empowerment zones which sounds like liberal speak for bad neighborhoods.
Pretty soon you wont even recognize it because it's a political loser.
What on earth do you mean by, “My Taxes are already paid free and clear, That is the way I like things.”
Are you referring to IRS withholding from your paycheck? Are you arguing for the status quo? How are your taxes “already paid free and clear”??
They will consume goods that have become cheaper.
>> They do not realize that due to elimination of hidden taxes, prices would ease under the Cain plan
The plan is revenue neutral; net taxes will NOT be decreasing. They’ll merely be shifted around (adding in another huge entirely new revenue stream for Congress to play with).
Across the board price decreases are fantasy math, similar to the Congressional fantasy of promising spending cuts later if you give in to tax increases now.
Consumption has made our economy stagnant. We have been borrowing to consume and now that has come to an end. The solution is to save and produce more.
The only way to justify that statement is to ignore the free market which inevitably lowers prices through competition.
Where does it say they wouldn't be taxed? If they weren’t to be taxed he would have put that in his ‘well thought out plan’. He took the time to put in the ghetto tax breaks because that was important to him.
Do you really think tax a federal sales tax plan would tax different states on some things but not others?
Some states tax used items too.
Thanks for the link, I am watching it now, but would still like a writeup.
I am speaking of savings. Monies that you have already been taxed on, and now this butthead wants
to tax me again at %9 and tell me its a great new beginning?
The Laffer curve will come into play. 35% is probably well to the right of the Laffer peak. This 27% will open up doors for economic development.
No its a consumption tax, dont spend anything and you dont pay it. What part of lower overall tax dont you understand
If retailers’ tax overheads go down, competition will force prices down. Result in purchasing power is better than the status quo.
And even then, I'm leery of authorizing the federal government to enact a sales tax. For that is a new tax... and who knows what the next party in power will do to it.
It's best not to give the authority to the government at all.
“No its a consumption tax, dont spend anything and you dont pay it.”
Great! No food, elec, heat, Rx, etc etc. Sign me up./sarc.
That’s the idea. The bill that establishes the new tax, will also repeal the old.
You’re paying more than 9% in hidden taxes for these things now.
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