“9% on top of the already excised items as well? Gas, cigs, beer?”
If the oil companies ,beer brewers and the tobacco companies go from 35% to 9% in corporate tax, they will have to reduce their prices to the market. IE...gas $3 gal before excise tax may drop as much as 10% to $2.70 gal. The excise tax, sales tax and fed 9% would actually lower the cost at the pump by a few pennies.
If the oil companies ,beer brewers and the tobacco companies go from 35% to 9% in corporate tax, they will have to reduce their prices to the market. IE...gas $3 gal before excise tax may drop as much as 10% to $2.70 gal. The excise tax, sales tax and fed 9% would actually lower the cost at the pump by a few pennies.
I happen to think that an excise tax on guns and ammo is an infringement of the right to keep and bear arms.
Cain has not suggested these would be repealed that I have heard.