So, how will 9-9-9 affect your tax bill?

As it stands now, 999 is a horrible, horrible idea.

Look at corporate taxes....do you see deductions for staffing? I don't. If you make companies pay 9% on the salary they pay you, that's an effective tax increase for them compared to the current set up (paying half the payroll tax and deducting the rest from income).

Also, does Cain not realize that increasing taxes at the point of sale will reduce consumption? He constantly mentions that "used goods are not taxed," but all that will do is limit the market for new goods, and the price of used goods will increase due to increased demand. Who would want to buy a new car with 9% federal tax when you could buy a used one for no federal tax?

And the obvious thing here--there is no such thing as used food. Under 999, congratulations, the cost to feed your family went up 9%. Sure, you could try to be cheaper (unhealthy) foods, but the cost to public health will not be beneficial here.

On the surface, it is obvious that the 999 plan is intended to benefit the rich and the rich alone.

 

In some parts of Alabama we pay a whoppin' 11% sales tax on purchases

You go out and buy a 50,000 pickup truck----well----you just tack on 5,000 plus to the cost of that fifty grand

A brand spankin' new 50,000 pickup truck will cost you an additional $4.600 under Cain

We elect this man----and then it won't be long before Detroit will notice----"We're not movin' these newbies off our lot like we use to!!!!!!!!!" (see Stefanf's post right above mine)

Well---Gee----I wonder why???????????:BangHead:

 

Of course with the corporate tax rate reduced the savings will get passed down to the consumer. No wait that isn't right the unions will strike for higher wages since the companies have more money and want their fair share so that will drive the cost back up, Cain has forgotten about those greedy union bosses and the cut they get for the wages from the working guys.