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I think many overlook the fact that the 9 percent sales tax in his plan only taxes purchases of new products, not used goods or services. I don't believe that that it would tax food either. So if a person is poor, food prices don't go up and they can still buy used goods.
If the low income person is on food stamps, then no tax on food may not make much difference.
and how pray tell can you guarantee that the business will lower costs? There is nothing in the plan that says they have to. They can keep the prices as is, and pocket the money. And other businesses will not lower prices if others do not.
One business starts undercutting their competition by a significant amount and the others have to. For an example, you can look at the airline industry. When the costs of operating dropped due to deregulation under Reagan, airlines dropped prices significantly.
The current system is corrupt, the rich pay next to nothing with all the tax loopholes they can buy from the politicians, you need to stop being a shill for the rich.
LOL!!! I know it's fun being conned and all, but I'm far from being a shill for the rich. Cain is advocating a VAT without calling it one. Cain is a Federal Reserve stooge and they've been calling for a VAT aka consumption tax for a long time now. But, hey, don't let me ruin the fun of being conned and bamboozled for you
And we've seen what happens in a free market, when one business doesn't lower prices, so the others dont as well.
They aren't beholden to lower prices in the 9-9-9 plan. Please show us the language where it says, "business must lower prices under this plan".
This only shows that you all have not read the plan, nor understand its impact.
The RICH are GOING to be TAXED LESS than they are now. CORPORATIONS are going to be TAXED LESS than they are now. AND the poor class WILL be taxed MORE than they are now.
That is why our tax system is based on a sliding scale, and not a static rate across the board.
If you want to screw seniors this is the way to do it. First off it eliminates pay roll tax. No payroll tax = No Social Security and Medicare. You just cannot run those programs without it. Its too expensive if this gets passed when the trust fund money goes, and it will go quickly, the programs are done.
Secondly Seniors who are retirees tend to be on a fixed income and rely heavily on savings if they have it. If you add the 9% tax on sales, that just puts a 9% extra tax on retirees that they didn't have before.
What 999 does is effectively close the loopholes that so many have enjoyed for soo long. One further step I would take....to insure tht corporations pay 9% on corporate profits...I would like to see Cain add that even if a corporation has an offshore account, the meny is TAXED at 9%. That would insure that CEO's like Obama's buddy...Jeff Immelt from GE....can't hide their profits and pay ZERO corporate tax as GE did last year.
999 also insures that all Americans who earn an income will pay a fair share of tax. There were over 40% of working Americans who paid no income tax last year. And we wonder why the government is broke?
Close the loopholes and adopt the 999 plan, and maybe we can get out of the mess Obama has helped put us in.
If you want to screw seniors this is the way to do it. First off it eliminates pay roll tax. No payroll tax = No Social Security and Medicare. You just cannot run those programs with out it. Its too expensive.
Secondly Seniors who are retirees tend to be on a fixed income and rely heavily on savings if they have it. If you add the 9% tax on sales, that just puts a 9% extra tax on retirees that they didn't have before.
This has been the plan. The banksters want a consumption tax but if they call it the VAT, then it wouldn't be popular, so it's repackaged as the 999 plan. But, hey, it's fun to be conned isn't it?
and how pray tell can you guarantee that the business will lower costs? There is nothing in the plan that says they have to. They can keep the prices as is, and pocket the money. And other businesses will not lower prices if others do not.
What is wrong with that? Businesses are created to earn a profit for their OWNERS.
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