Lots of unknowns about the 999 plan as to how it will impact the individual. I’d like to see the list of what isn’t going to be taxed at the Federal Level and who isn’t going to pay that tax. In other words what and who will be exempt from the federal tax.
State and local taxes will at least remain the same or as you say maybe increase if possible.
But the most important part of the plan is how does Cain intend to get it implemented? He can’t do it by the wave of his pen so he must get the Congress to act. That isn’t the easiest thing in the world to do.
And the chances of that happening are "slim" and "none". There will be carve outs for the "poor" I understand that has already been stated on his website. What will they do, give people a card to say they are "poor" to present when they are shopping so they don't get charged tax? They do away with the tax code, so who determines what is a direct cost and what is an overhead cost for determining the taxable base?
If the 9% is added to a new home but not a used home, who would ever build a new house? The same for cars. Who would be willing to buy a new car and pay an additional 9% when you can buy a used car and save that tax?
Cain's 9-9-9 plan being hard to implement is a good thing. I don't want a national sales tax, but other than that, I do like Cain.