Why is everyone so myopic about this? I have a couple questions for you to ponder.
1. When you buy a good or service, what hidden factors are incorporated into the retail price outside transit cost and vendor markup?
2. What do you think happens to the cost of that good or services when those hidden factors are eliminated?
You are already paying far more in taxes than your payroll and income tax suggest...you just don’t know it because it’s all hidden in everything you purchase. ALL COSTS associated with producing a good or service (payroll, taxes, compliance, etc.) are handed to the customer in the form of higher prices. Raise corporate taxes and you are essentially raising the cost of the product and indirectly raising taxes on the consumer. Why do you suppose it cost so much to make anything in the US and why companies flee offshore in order to remain competitive?
All the 9-9-9 plan does is make how you are taxed transparent and easily paralleled to the economy instead of the giant boondoggle it is now.
Prices go down. Economy goes up. Corporations come home. Businesses hire more people. GDP explodes. Individual optimism and moral takes off. Standard of living goes up. It’s the 80’s all over again…without the cheesy hairdo’s and bangle bracelets.
“When you buy a good or service, what hidden factors are incorporated into the retail price outside transit cost and vendor markup?”
Like our phone bills!