there is no 9% VAT in 9-9-9
From Cain's website:
What else would you call that? It's certainly not a corporate income tax.
gross income - all investments - all purchases - dividends...
yo, I think that is even more generous to the corporations than a flat corporate income tax, for a corportate income tax is calculate PRIOR to dividends, and thus Cain's plan seems to end double taxation of corportate profits.
Yes. Essentially, Cain's plan creates 3 tax brackets. Those reliant on transfer payments pay 9% twice (sales tax and business flat tax/VAT reflected in the price of goods). The middle class and the working poor pay 9% three times (sales tax, business flat tax/VAT, and income tax). And those wealthy enough that wages are not their primary source of income pay 9% twice.
Conservative tax policy analysts have raised concern over the fact that, since the business flat tax is "hidden" in the prices of goods (from the consumers perspective), this tax isn't as transparent as Cain claims.
And of course, this is just "Phase I."