I pay 9% tax on crap I buy to re-sell. Currently I pay no tax because its wholesale.
Wholesalers, distributors, retailers and businesses buying raw materials and items for re-sale do not pay tax. They send tax exemption certificates to their suppliers.
Cain's proposed sales tax is a retail consumer, consumption tax.
“Okay, maybe I am an idiot, but someone ‘splain to me.
I pay 9% tax on crap I buy to re-sell. Currently I pay no tax because its wholesale.
Cain’s proposed sales tax is a retail consumer, consumption tax.”
Yup, caught that finally, in the original format earlier in this thread, that part was not visible to my feeble eyes.
But, in the end I will still end up paying more taxes. The way things are now, as a table top capitalist, we end up paying very little in taxes due to our deductions.
So the devil is in the details. That, and now I will be enlisted as an agent of the Federal Government to collect taxes from the population.
It is bad enough now, cause when folks come to a fair, they DO NOT want to pay sales tax. They think its a TAX FREE environment and start cursing when I charge them tax. Many times I am forced to pick up the sales tax to make the sale. Now I gotta pick up an extra 10 percent? Now I got the Federal Government looking over my shoulder for its sales tax money as well as state governments?
You clock punchers may think its all just fine and dandy, but its just more paper work and more telephone calls to dumb bureaucrats who can’t figure anything out.
I’s just me-—I don’t have employees, I don’t have a team of accountants to pour over everything, every document.
I would just as soon scrape everything and just have tariffs charged on incoming goods and on whiskey and rum too! :)