When People realize it’s 9% on *top* of state sales tax, and applies to all internet and food sales…it’s back to Romney

9 Questions for Herman Cain’s 9-9-9 Plan – Atlantic Mobile http://m.theatlantic.com/business/archive/2011/10/9-questions-for-herman-cains-9-9-9-plan/246905/

1) Tax experts have said that, by enacting a 9 percent tax on three levels of income –on corporate income, personal income, and spending –you are essentially levying a 27 percent payroll tax without exemptions. Are they wrong?

2) If they’re wrong, explain how a family being paid $40,000 out of a corporation’s income and spending all $40,000 that year would not ultimately forfeit 27 percent of their income to the government. If they’re right, why shouldn’t somebody call the tax a 27 percent tax instead of a 9-9-9 tax?

Lots of good, basic questions that expose this plan for what it is…supply-side to the Nth.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s