Posted on 10/19/2011 12:27:42 PM PDT by Brookhaven
What have the other front runners spoken of? More of the same with a little extra for illegals and free loaders.
Not to mention most people’s income taxes will be lower.
Not that there's anything wrong with that.
Yep, and his economic adviser wants to replace that 9% by adding it to the payroll taxes.
9% Flat tax plus 10% Chilean deduction Plus 9% new payroll tax = 28% payroll deductions. Wonderful idea ain't it?
I'm going to buy used apples.
The issue of price stability is not the issue with the 999 plan.
The issue is that Cain’s plan to transition to the FAIRTAX will be stripped out by Dem Senators leaving 999 bare and sent to the President who will then be faced with a challenge to sign or veto. Whoever the President is will sign because the political backlash will be too much to bear; wage earners will receive more take home pay, corporations and businesses will receive a much needed tax break and the national sales tax will become a VAT hidden away from consumers.
The issue then is that the United States will have:
1. An Income Tax
2. A National Sales Tax
3. A VAT
and over time the 9-9-9 will become 29-29-29+Hidden VAT.
Congress is full of deceit, always touting good intentions but never delivering on rolling back any tax until the grassroots has had enough, and even then the snake oil peddling politicians will use all kinds of sweet lies to fool the public yet once again.
Best to get behind the FAIRTAX and stay there.
http://www.fairtax.org/site/PageServer?pagename=about_faq
Study Study Study and Ask Questions!
Costs to the supplier might. However, I would not make the assumption that prices at the consumer level will. Actually, prices for American consumers could even rise, especially if the NST is not applied to exports.
If he starts backing off of it now he'll look like a fool to most people. He's damned if he does and damned if he doesn't.
Wrong! As a retail business owner I would welcome the wider margin and use it to pay down some debt or maybe even afford some other necessities. Lower prices would be the last thing I would do.
Sure they’ll keep it, because there’s no such thing as competiton.
Competition will force prices down. Believing anything else is naive.
Exactly, which is how it will be framed by Obamao, “he wants to tax you, I just want to tax the wealthiest blah blah blah”
Real problem I have with his idea, besides my own financial self interest, is the denizens of Babylon on the Potomac, will, at need, simply tax both incomes and sales.
Lowering the corporate tax rate does not necessarily mean lower prices.
I can’t afford to pay my home ownership dues and my drug dealer for heroin. I’m voting for Obama.
Virginia, for example, double taxes one regarding income form Canada and other countries.
Cluelessness doesn't become you, bkepley, it's time you started paying attention.
I agree. It can be sliced and diced like crazy which takes away from the overall theme that overhaul is needed. Besides, without a Republican House and Senate, his plan would never see the light of day - that is unless the Democrats so bastardized it that no Republican would vote for it.
And they will need to eliminate a ton of hidden taxes in order for it to help businesss and the economy.
It looks to me like a 27% tax increase offset by a 15 - 30% tax decrease. Where am I wrong?
It doesn’t matter. We can whine all we want about “the right thing to do” or “principles” but I don’t see a 9% sales tax getting through Congress. Who is going to vote for it? Besides liberals, of course.
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