And they no longer pay any taxes on their dividends or cap gains which would offset these other taxes.
Only 34 percent of current SS beneficiaries pay federal income taxes on any of their Social Security income anyways. How many of them do you think are receiving dividends and capital gains? My guess is, Cain won’t carry the AARP by making food cost more for old people so millionaires can get a tax break.
And they no longer pay any taxes on their dividends or cap gains which would offset these other taxes.
You are assuming that senior citizens all have stocks to sell in the first place. Tons don’t. So, they will pay the new value added tax (which is what it really is) and get no other benefit out of 9-9-9. Bully. Great idea there.