tag:blogger.com,1999:blog-2946942062204448159.post4143134410208204558..comments2023-10-14T04:34:47.438-04:00Comments on The Happy Wanderer: Cains 9-9-9 planvanillamanhttp://www.blogger.com/profile/08385749975343350948noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2946942062204448159.post-39193025887547492262011-10-17T21:53:58.798-04:002011-10-17T21:53:58.798-04:00This sort of trickle down economics doesn't ma...This sort of trickle down economics doesn't make sense. you say prices will go down But many major companies like General motors haven't been paying anything in corporate tax, so if Herman cain makes them pay prices won't go down they will stay where they are. Even let's say they do go down the GST will still make the poor and the middle class pay more. Because the corporate tax cuts first don't guarantee that prices will go down that quickly. they only reduce prices over long term tax cuts that are stable, and this tax code isn't stable considering it won't generate enough revenue to balance the budget. Second a 9% sales tax will take more money from the poor and the middle class then the money companies will give up to reduce prices. And third even if all of what you say is true and people pay less then they usually would. The revenue brought in will be 200 billion dollars short of this years revenue. meaning the deficit will increase. Which means the goverment is going to either cut more or increase the G.S.T again. <br /><br />I don't disagree with the cutting the corporate tax it does reduce prices over the long run of course. But reducing the Corporate tax on the backs of the poor to pay more or pay the exact same so big companies will get more profits isn't a good solution. If the deficit situation get's worse that means higher taxes later. <br /><br />The U.S does need a national sales tax, but they should not squander it away on reducing taxes on companies. They should use it to eliminate the deficit.vanillamanhttps://www.blogger.com/profile/08385749975343350948noreply@blogger.comtag:blogger.com,1999:blog-2946942062204448159.post-48445861952450364372011-10-17T19:46:47.590-04:002011-10-17T19:46:47.590-04:00He will close all loopholes, so the rich and corpo...He will close all loopholes, so the rich and corporations will pay more tax.<br />End corporate bailouts (like GM).<br />A lot of other taxes get abolished, so the 9% GST will be a tax on a lower priced good.<br />Same thing happened in Canada, the manufacturing sales tax was abolished, the price of cars went down after the GST.<br />Remember the Liberals in Canada promised to abolish the GST, for the reasons YOU stated above......Chretien kept it, he must like Herman Cain.<br /> When Harper lowered it, Liberals under Dion criticized Harper for lowering it.Anonymousnoreply@blogger.com