Okay, RL, I stand corrected.
But I’m not playing baseball on a football field here.
A VAT tax is a Value Added Tax and I know that this means that a tax is added on at EVERY level of production, from raw material to production to final sale.
As MNJ states, and assuming MNJ is correct which he likely is, Cain’s tax would only be a national sales tax on the final product.
I did state I needed more information and y’all are providing some, I appreciate it.
That being said....sales taxes are not bad things though I know right now we’re all raising tax weary, I get that.
But sales taxes tax that money which is NOT earned fairly via employment, such as drug money, money paid under the table, that kind of thing. Please do not assume I am in any way or fashion espousing such a thing because for now, like y’all, I’m so opposed to any kind of tax increase for the waste of money spent by the gubmint that my eyes roll around.
Assuming that we didn’t have a federal gubmint paying out millions to dead people, bailing out failed industries for fakery jobs that were never there or going to be there....a sales tax has its merits. If any kind of tax can be considered a merit but you know what I mean.
Whatever the case and whatever Cain’s stance, I will be forever in admiration that he has a plan, he’s not a coward to come out with it, I got wide open ears and mind but the mind is not so open that my brains fall out.
As I understand it, Cain's plan rips the tax code out by the roots, lowers the corporate tax to 9% (from 35%) taxes any level of income at the same 9% and eliminates deductions and other "loopholes".