Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Huck

As near as I can tell, the author you linked to is not calling the sales tax a VAT, but is calling the corporate tax a VAT.

He calls is a VAT because Cain’s plan does not allow companies to deduct wages from their gross income prior to that income being taxed.

I’m not sure why that makes a corporate tax a VAT, even though I do think wages are a legitimate business expense and should be deductible from income as a cost of doing business.


173 posted on 10/13/2011 9:52:20 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
[ Post Reply | Private Reply | To 162 | View Replies ]


To: xzins
That's correct. 9-9-9 is a sales tax and a VAT. By eliminating the business deduction for salaries and wages, he's basically imposing a 9% tax on salaries and wages. That's a VAT.

9-9-9 is a corporate tax, a sales tax, an income tax AND a VAT tax. And this is who the Taxed Enough Already party supports? Laughable.

176 posted on 10/13/2011 9:56:07 AM PDT by Huck (9-9-9 is a SALES tax AND a VAT -- read about it at Nat'l Review: http://tinyurl.com/3w9ak3a)
[ Post Reply | Private Reply | To 173 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson