- Joined
- Apr 14, 2008
- Messages
- 13,012
- Reaction score
- 5,741
- Location
- Huntsville, AL (USA)
- Gender
- Male
- Political Leaning
- Moderate
No it's not. It's a 9% tax on gross income less the cost of goods bought from other U.S. companies, exports, and capital investments.
In short, a free ride for businesses and hedge fund managers, but a large hit on consumers of new goods/services. You wanna know what I call Herman Cain's 9-9-9 plan where the middle-class is concerned? A Thrift Store tax because the only way consumers get away from paying the national sales tax in particular is if they buy used goods, not new. This from his own mouth on the Today show earlier this week and during the Los Vegas debate. His tax plan would also kill U.S. manufacturing which the President and Congress are trying to re-start via legislation recently passed on trade deals and patent reform.
The only people who really benefit from Herman Cain's tax plan are once again those at the top.
Last edited: