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To: Donnafrflorida
9-9-9 eliminates the business deduction for wages and salaries. It gets treated as income, not an expense. Thus, there is a 9% VAT tax built into 9-9-9.

9-9-9 is a sales tax, a business income tax, an individual income tax, and a VAT tax. He's not kidding when he says he wants to broaden the tax base.

Tax reform should take a back seat to spending cuts and regulatory reform, imo. 9-9-9 will be a big hassle sooner or later.

320 posted on 10/16/2011 7:18:49 AM PDT by Huck (TAX TEA NOW==SUPPORT 9-9-9!)
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To: Huck

It will be a huge hassle alright.
All those using loopholes such as Verizon GE and solyndra, who paid no taxes “ will have to pony up.
Buffet which still owes a billion plus will have to pony up.
All those working under the table will have to pony up.
Maybe then I can get a new sink, pay for dental work and help my kids.
I am one if the 53%. I pay 28% taxes.


321 posted on 10/16/2011 7:25:01 AM PDT by Donnafrflorida (Thru HIM all things are possible.)
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