The corporate sales tax rate would plummet from 39% to 9% with some most going to lower consumer prices which would cause people to spend, especially once their paychecks are taxed at the same 9%
The economy would explode overnight and the economy might overheat.
Corporations would also have more money to put into R&D, creating future products that would give you more bang for the buck.
The 9% sales tax, which has already been implemented in many states would stay the same.
Not 100% of people would immediately benefit from the 9-9-9 plan, but everyone would eventually benefit from the 9-9-9 plan.
I also imagine that those over 65 would be exempt from paying the 9% sales tax.
If not, they should.
I'm over 65 and don't agree. If you allow that exemption, it opens the door to others.
I'm willing to pay a 9% sales tax if it gets rid of the whole unproductive infrastructure of paper-shufflers who maintain this current income tax system. It's also a small price to pay to rid us of the "contribute to my campaign and I'll cut you a tax break" business.
"Hey granny, let's go shopping!!". ;)
“I also imagine that those over 65 would be exempt from paying the 9% sales tax.” I am over 65 and in general do not support absolving us from taxes. Why should we not pay sales taxes? Most of us are better off than younger people just getting started and/or raising families. Those families are the ones that I am most concerned with.