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+--- Thread: Question about 999 plan (/showthread.php?tid=125221)
Re: Question about 999 plan - Lux Interior - 10-14-2011
space-time wrote:
[quote=BCam]
Cain's plan is in reality a Value Added Tax, isn't it?
I build cars.
I buy steel + 9%.
I buy tires + 9%.
I buy electronics + 9%
I buy upholstery + 9%
I buy glass + 9%
I buy paint + 9%
etc.
So when I sell the car to you, I need to recoup my additional costs, and then of course, you add another 9% to your purchase price.
it is value ADDED tax, you don't pay 9% tax on something you already paid 9% tax on. Nothing is taxed multiple tax, as far as I understand the VAT (again, value ADDED tax)
There is no double taxation occurring. If the manufacturer's costs go up because their taxes increase, then the price of the final product will also go up. And you pay more in sales tax when you buy it.
Re: Question about 999 plan - cbelt3 - 10-14-2011
Lux.. from a 'cost accounting' perception, it's nth taxation. With each iteration in the supply chain (n), taxes creep in. But that's been going on forever, so it's not a surprise.
Ohio, for example, replaced their Property tax on businesses (Inventory, etc.) with a Commercial Activity Tax , which is a tax on gross receipts as opposed to net profit.
Re: Question about 999 plan - rankandfile - 10-14-2011
Make no mistake.
The 999 plan is very regressive—the brunt falls on the lower and middle income groups. Upper incomes get a break. Same old, same old.
The economy will take a huge hit and the deficit will increase substantially. What's the logic in that?
The battle over which loopholes and deductions will actually be eliminated will make a mess of the tax code....again.
Re: Question about 999 plan - Mac1337 - 10-14-2011
So what we have is just right. If by regressive you mean people who pay no taxes and still get a "refund" will be dropped off the rolls, then sign me up.
Re: Question about 999 plan - wave rider - 10-14-2011
I heard mention that the Sim games start at default 9% tax in all categories.
I wonder if one of Herman's advisers used to play...
=wr=
edit> Oops, did not read below: http://forums.macresource.com/read.php?2,1242922
Re: Question about 999 plan - lafinfil - 10-15-2011
"Elsewhere, Texas Governor Rick Perry announced what he called his "1-1-1" plan:
"Every American gets 1 percent tax, 1 mandatory vaccination, and 1 execution."
-Andy Borowitz
Re: Question about 999 plan - New Guy - 10-15-2011
Here's a good explanation:
"Editorial: Herman Cain's 9-9-9 doesn't add up"
http://www.usatoday.com/news/opinion/editorials/story/2011-10-13/9-9-9-Cain-tax-editorial/50761434/1
New Guy
Re: Question about 999 plan - RgrF - 10-15-2011
It's not a plan, it's a campaign slogan.
Re: Question about 999 plan - Mac1337 - 10-15-2011
New Guy wrote:
Here's a good explanation:
"Editorial: Herman Cain's 9-9-9 doesn't add up"
http://www.usatoday.com/news/opinion/editorials/story/2011-10-13/9-9-9-Cain-tax-editorial/50761434/1
New Guy
OK, show me something that does add up. Hint: status quo need not apply.
Re: Question about 999 plan - New Guy - 10-16-2011
"OK, show me something that does add up. Hint: status quo need not apply."
When I figure that out I'll run for office...
New Guy