To: ClearCase_guy
Herman Cain's plan is a tax on retail sale. Retail only.
That is the 9% sales tax.
I take the VAT question to be regarding the 'corporate' 9%. As a product moves from idea toward retail, are 9%'s added at each stage of production/development in the corporate/company environment? Or does the 9% only apply to the finished product?
And, is that 9% 'corporate' passed on to the consumer by increasing the retail price?
Per other posts, Medicare/Social Security payroll deductions are eliminated, and M/SS are paid out of the general revenue. With M/SS already in financial trouble, how is 999 going to address that?
And what about the annual shortfall/deficit of some $285 billion that some costing organizations estimate would occur with 999?
Cain needs to say more than 'their numbers are wrong' and 'details are on the website' about these kinds of concerns.
16 posted on
10/19/2011 7:47:42 PM PDT by
TomGuy
To: TomGuy
I take the VAT question to be regarding the 'corporate' 9%. As a product moves from idea toward retail, are 9%'s added at each stage of production/development in the corporate/company environment? Or does the 9% only apply to the finished product?Nothing changes for corporations except the rate. They now pay around 35% in taxes. Under Herman's plan, they will pay 9%.
20 posted on
10/19/2011 7:54:12 PM PDT by
upchuck
(Rerun: Think you know hardship? Wait till the dollar is no longer the world's reserve currency.)
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