Wichita has 7.3% sales tax in most parts of town. Some parts of town are higher. Local businesses go to the city, ask for permission to increase sales tax at their business and they apply for a loan, the city gives them a loan say $100k for 5 years, the state refunds the 1% back to the city to offset the loan from the city's taxpayers. The borrower never writes a single check for this loan. Isn't this curious, it's claimed every day that businesses cannot thrive anywhere taxes are not being lowered, and yet, quietly they sneak into city hall asking for an increase. These loans are also considered forgivable, if the tax never repays the loan in full, or they close, taxpayers eat it.
OK, back to the 7.3%. Add the Cain 9, and it becomes 16.3% for me, some of you may have even higher rates, but everyone is going to face about 15% or more. Well.......lets say I am retired and or on social security, or busted down out of work and most months I spend almost everything I lay my hands on. I just lost 9% of my food clothes and meds. That's 15% on everything you make, and Cain ain't done with you yet. Now if you make over a million bucks, it is estimated this plan will save you a couple hundred thousand, and with this you will at once open a machine shop, hire people and start bending metal into useful shapes for America.
Bring it on black walnut, your sucking around to increase poverty in America.
Back to the first paragraph about Wichita's dirty little secret tax system. This really is feudalism. The lords taxing/taking from the serfs at will leaving them to make up the difference if they can. Never forget feudalism worked splendidly for thousands of years, and without the loathsome middle class. Here we have it again, but without the castle standing over the hovels, nevertheless we have businesses taxing the public at will.
How much will I pay under 9-9-9? None. Cuz it'll never happen. ; )
ReplyDeleteI'm hoping that after the election we can get serious about real tax reform.
Kev,
ReplyDeleteNot until we get the obstructionist bastards out of office who cater to their rice patrons.
I say prosecute the entire US Congress under RICO - every damned one of them.
What the GOP candidates all say is increase the tax base - which translates into "tax the poor more".
Sarge
Kev,
ReplyDeleteI hope you are right, I would not like to see pizza man and his corporate system turned on the middle class.
Sarge,
One way the gop tases the poor more is to provide fewer services. Remember raising anyones costs is a tax, or at least that's what they say when preventing pollution will cost an extra $35 a year for electricity, it's a tax of billions on us. Billions, fucking billions they say.
Fringe:
ReplyDeleteOur local and state sales tax combined is already almost 10%. Imagine buying a new $30,000 automobile and having to add Cain's 9% on to that tax for a total of almost 19%. The car's total cost would be almost $36,000. I think that I would make the old clunker last a little longer.