Posted on 10/29/2011 8:05:02 AM PDT by mnehring
Edited on 10/29/2011 2:08:48 PM PDT by Jim Robinson. [history]
Well, let’s see . . .
9% VAT:
Sale 1:
Raw materials: $60
Cost of labor: $20
Sales Price of good or service: $100
Real Income: $20
Taxable Sales Price: $40
Added Tax: $3.60
Sale 2:
Cost of materials: $103.60
Labor to sell: $20
Sales Price of Good or Service: $143.60
Taxable Sales Price: $40
Added Tax: $3.60
Total Tax: $7.20
9% Business Tax via Mr. Cain:
Sale 1:
Raw materials: $60
Cost of labor: $20
Sales Price of good or service: $100
Real Income: $20
Taxable Income: $40
Added Tax: $3.60
Sale 2:
Cost of materials: $100.00
Labor to sell: $20
Sales Price of Good or Service: $140.00
Taxable Sales Price: $40.00
Added Tax: $3.92
Total Tax: $7.20
Notice that the 9% tax in both cases are applied to the cost of labor. The 9% individual tax will *also* be applied to that cost of labor. That is a “hidden” payroll tax that is indicative of a VAT tax.
I’m still on the Cain train, but I’m sitting next to the door so I can get off if I think the train is headed for a town I don’t want to visit.
You are failing to include the hidden taxes currently in a product you buy.
Lets say you buy a widget from small business A.
To keep it simple, that widget costs $10 now.
The cost now includes:
Excise Taxes
Gross Receipts Taxes
Business Income Tax
Self-employment Tax (if applicable)
Franchise Tax.
(and more)
That $10 widget would include about $2.80 in its prices.
So now, you pay $10.00’
Under 999, that $2.80 in hidden tax is eliminated and replaced with 9% business tax (+.65c).. to bring the cost to $7.85 (($10-2.80)*9%) then you pay the 9% sales tax so the final out of pocket to you is $8.55.
$8.55 under 999 versus $10 under the current system.
ya...well if your write-in sentiment prevails, house cleaning will occur in unimagined ways, as our American Republic disapears into the oblivion of Obamian-Marxism....
Nope I am not.
And that is a good question.
Sandy, Romney is a stink’n LIBERAL.
The conservative base does not want a stink’n LIBERAL.
Who can you not understand that?
Show me ONE post on FR where people say they hate mormons?
Either show it or retract your words.
People say mormons are conservative yet how is it then that they vote in the high percentile for the likes of those mormons who are elected.
Huntsman, Romney Reid to name just a few.......where exactly is that conservatism.
My casting suggestions for the movie version
Gilbert Gottfried as Romney
Tara Reid as Eva Braun
Kevin Costner as Hitler
You never ever surprise....
Wait minute....Mitt is a “live long member” of the NRA!!!
Ok, Sandy tell us why you support Romney.
What makes him you candidate of choice?
List posts..that "spew" nonsense.
That said once again....IF, you don't think the LEFT press WON'T expose mormonism and all it's goofy stuff..you are crazier than I thought.
Personally...if you want Obama re-elected....vote for Romney in the primaries.
S.D. you are going off the deep end.....
So be it.
Oh c’mon...Kevin Costner had taker at one time!
Stupid iPhone spell check.
“taken” should be “talent”
And for the record, I watched “Message in a Bottle” twice and enjoyed it.
I really hated “Field of Dreams”. Costner needs to be punished.
I hope Tara Reid doesn’t give him crabs or something, that would be too harsh.
I still have not seen Field of Dreams.
It makes absolutely no sense, I can’t believe so many people love it.
People DO love it! I think my Mom’s watched it at least 40 times.
Different strokes I guess.
As far as baseball movie go, “Eight Men Out” is tough to beat. I’ve probably watched it ~10 times. Love it, even though Chazz Estevez is in it.
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