The Mudcat Café TM
Thread #140853   Message #3238466
Posted By: artbrooks
13-Oct-11 - 02:08 PM
Thread Name: BS: 9-9-9 This, Mr. Cain!!!
Subject: RE: BS: 9-9-9 This, Mr. Cain!!!
Many people with lower incomes currently pay little or no income tax and they spend everything they make to get through the month. Mr. Cain's grand plan will tax them at 9% while adding an additional 9% sales tax to everything they buy...additional in the sense that many items (eg., food) are generally exempt from state and local sales taxes. So then, to maintain the same standard of living, they get to pay 109% of what they used to pay, and do so with 91% of the money. Just exactly how did this guy make his fortune? I understand that his chief financial adviser has a bachelor's degree in accountancy - not even a CPA.