- Apr 5, 2010
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Just an attempt at setting up a viable 9-9-9 plan similar to Cains:
Income tax 9%" Would cover the following:
Any income from salaries.
Interest income (interest only) from savings accounts and bonds.
Profit made by an individual from the sales of a stock that increased in value (profit only)
Profit from the sale of stock options as part of a compenstation package.
The only exemption I would allow would be on the first $10,000 a person made.
Sales tax: 9% Would cover the following
Sales of all end product goods. So the parts to make a car would not be taxed, but the car itself would be, and any replacement parts thereafter.
Sale of any services.
All house sales
The only exemption would be for food.
Corporate tax 9%
Tax would be based on the compaines end of year profit from US sales, before reinvestment or dividends. Foriegn sales would not be included, but any profit made in the US by an outisde firm would be taxed.
The key to the corporate tax being the same as the income tax would that even if the company dumped all its profit into salaries and stock options to the higher officers, the government would still get its 9% cut due to the provisions I placed in the income tax section.
Comments?
Income tax 9%" Would cover the following:
Any income from salaries.
Interest income (interest only) from savings accounts and bonds.
Profit made by an individual from the sales of a stock that increased in value (profit only)
Profit from the sale of stock options as part of a compenstation package.
The only exemption I would allow would be on the first $10,000 a person made.
Sales tax: 9% Would cover the following
Sales of all end product goods. So the parts to make a car would not be taxed, but the car itself would be, and any replacement parts thereafter.
Sale of any services.
All house sales
The only exemption would be for food.
Corporate tax 9%
Tax would be based on the compaines end of year profit from US sales, before reinvestment or dividends. Foriegn sales would not be included, but any profit made in the US by an outisde firm would be taxed.
The key to the corporate tax being the same as the income tax would that even if the company dumped all its profit into salaries and stock options to the higher officers, the government would still get its 9% cut due to the provisions I placed in the income tax section.
Comments?
