Question about 999 plan

[Lux Interior]

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.

[cbelt3]

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.

[rankandfile]

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.

[Mac1337]

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.

[wave rider]

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

[lafinfil]

"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

[New Guy]

Here's a good explanation:

"Editorial: Herman Cain's 9-9-9 doesn't add up"

http://www.usatoday.com/news/opinion/edi...50761434/1

New Guy

[RgrF]

It's not a plan, it's a campaign slogan.

[Mac1337]

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/edi...50761434/1

New Guy

OK, show me something that does add up. Hint: status quo need not apply.

[New Guy]

"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