Ok, so I just read up a little bit on the 999 plan, and so far I don't like it at all.... Here's something from Cains website...
Business Flat Tax – 9%
Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders.
Empowerment Zones will offer additional deductions for payroll employed in the zone.
Individual Flat Tax – 9%.
Gross income less charitable deductions.
Empowerment Zones will offer additional deductions for those living and/or working in the zone.
National Sales Tax – 9%.
This gets the Fair Tax off the sidelines and into the game.
So, if you are working you pay 9% of your income to the government. For people on welfare, they don't pay anything? In this country, it seems like it's a better deal to stay unemployed and on welfare to sit on your butt all day and eat food bought with food stamps. Why work if you don't have to? Why work and make something of yourself at all when you can get free food, a free roof over your head and free cloths....
He said that with his plan, the IRS would be eliminated... so who would watch the public to make sure that they are paying their 9%? Who's to say that the government can't just come in and all of the sudden decide that 9% isn't cutting it, and that they need to raise it to 12% or 15% or more?
What is up with the National Sales tax? I think that's BS. I'm already sick and tired of paying 9.9999% sales tax for just state and local sales taxes where I live. If there is a national sales tax of 9%, won't my products I want to buy also increase 9% to 18.999999%? At nearly 20% sales tax, I'de have to take a loan out just to buy groceries.
To me it just sounds like another way of running the country into the ground.