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To: SoJoCo
The author correctly identifies the problem with the business tax

Abolishing their share of the payroll taxes, as 9-9-9 does, by itself significantly cuts all business's tax burden

Once again, try actually learning the facts about 9-9-9, don't just post fraudulent disinformation.

14 posted on 11/05/2011 12:53:38 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: MNJohnnie
Abolishing their share of the payroll taxes, as 9-9-9 does, by itself significantly cuts all business's tax burden

Nonsense. Payroll taxes are a business expense and as such are used to reduce taxable income. In your Cain world a dollar of income is, with few exceptions, a dollar taxed. Currently if I have a company with $1 billion in revenue and a 10% profit margin then I'm taxed on $100 million, maybe a maximum of $35 million in taxes. Under your Cain world then potentially I have $1 billion in taxable revenue, unless I operate in a 'empowerment zone' and less any goods I buy from U.S. manufacturers. For a company in a service industry like a bank or insurance company or consulting company then if I make a billion I'm taxed on a billion. My taxes more than double.

Unless, of course, this is also one of those "Cain really doesn't mean what he says" moments?

27 posted on 11/05/2011 1:54:11 PM PDT by SoJoCo
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