To: justsaynomore
You are still missing the 22% embedded taxes coming off the cost of the product.
The 9% sales tax is offset by the lower cost of the product.
22% embedded (sales) tax plus current income taxes is how much greater than the 27% from Cain's 999?
If Cain's 999 is implemented who makes up the difference in the loss over current revenues?
Cain's plan does not address that, nor does it address overall spending. Until spending is addresses, Cain's plan, per some estimates, falls short by some $280 Billion annually. Where does that difference come from?
64 posted on
10/12/2011 6:19:05 PM PDT by
TomGuy
To: TomGuy
No. 22% is how much tax is “hidden” in each thing you buy. That amount goes down. The cost of things goes down. That offsets the SALES TAX 9%
15.3% is the payroll tax. That goes away. That offsets the INCOME TAX 9%
25-35% corporate tax goes away. That offsets the 9% business tax.
So ... it is actually is 15.3% payroll plus income tax plus 22% embedded tax plus 25 to 35% corporate tax compared to Cain’s 27% It is a tax CUT.
WHy is it lower? Because MORE people are PAYING.
69 posted on
10/12/2011 6:25:17 PM PDT by
justsaynomore
(Cain 2012 - http://teamcain.hermancain.com)
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