I like Cain. But is his 9% sales tax on top of my 7% local sales tax? That’s 17% on everything I purchase...
“I like Cain. But is his 9% sales tax on top of my 7% local sales tax? That’s 17% on everything I purchase...”
So you’re alright with paying massive taxes as long as they’re hidden and buried in the retail price?
OBVIOUS taxes are the problem?
Because I promise you, you’re paying more then 9% in hidden taxes with every item that you buy.
9% will be less.
What about the 34% corporations pay to make products you buy, you don’t think that increases your outgoing expenditures?
What don’t you understand about the fact 40% of the cost of everything you buy is tax upon tax. The 9/9/9 plan would reduce the total tax you pay. As an example, 40% of the cost of a new car represents costs of taxes passed on at every stage of building the car, from digging the ore out to putting the windshield on. Cain’s proposal is to reduce that 40% to at most 27% of the cost. When the GDP is 10 trillion and the government collects 4 trillion, where do you think that 4 trillion is hiding in the economy? It is right there in front of your nose - 40% of the cost of everything you buy.
Do you pay any federal income tax? What percentage of your income do you turn over to the feds without ever getting a chance to make a decision on how to spend it?
I like Cain. But is his 9% sales tax on top of my 7% local sales tax? That’s 17% on everything I purchase...
***
It will spur so much growth, that you’ll make a bunch more, so you won’t miss it.
It turns tons of moochers into tax payers. People like:
1) illegals
2) section 8 recipients
You do know there is an average of 22% tax hidden on the price everything you purchase today and he's eliminating all those. So today you pay 22% plus state 9% = 31%
Under Cain plan it would be 16% (9% Fed 7% State) but wait if you take out the 22% of the price of a 100.00 item, it would be 88.00 so 7% state tax is less on 88.00 then $100.00 also