The cut to 9% from 35% corporate income tax will stimulate the economy and jobs like nothing else and entice corporations to come back home, particularly since they won’t have the burden of their 7.65% share of FICA and Medicaid for their American employee’s either.
The cut to 9% personal income tax will help the VAST majority of taxpayers. Particularly since they won’t be obligated to pay 7.65% FICA and Medicaid or 15%+ if self employed. Those that don’t pay taxes now, well, their gravy train will be pulling into the station at the end of the track now won’t it?
Finally, the 9% sales tax is an entre’ to the repeal of all corporate and income taxes and the transition to the “Fair Tax”.
Simplifying the tax code in this fashion should also drastically reduce the costs of compliance. As far as I can see it’s a win-win for all but the moochers in our society. And that’s a good thing.
The 9% would indeed be in addition to existing local and state taxes. Sales tax is currently 9.75% where I live so an additional 9% would take it up to 18.5%. But with the elimination of payroll tax and replacing it with a 9% national sales tax I could, technically, pay far less taxes until which time I make a purchase then I pay a higher tax for that purchase.
A sales tax is a “regressive” tax and not a “progressive” tax. The poor who spend their entire paycheck as soon as they get it, if not before, are taxed on all of their income presently. while those who are better off will save and invest much of their income, thus shielding it from a sales tax and encouraging saving and investing. While at first glance this might seem to hurt the poor, the great progress that would be brought about by this “regressive” tax would benefit the poor far more than the “progressives” and their Marxism ever have.