Herman Cain is advocating a 23% National Sales Tax and no income tax.
He is out of his freaking mind.
“…Cain said he supported the FairTax, a flat, 23 percent sales tax to replace income and payroll taxes….”
If something cost $100, it would cost a person $123. You add local and state sales tax, which is pushing 10% in Lincoln County (we’re held hostage) and you’re talking $133.
Would you please tell me what person in their right mind is going to purchase anything that cost at least 25% more? I think Cain has this fantasy that once income taxes and payroll taxes are deleted, prices may go down? There is no reality here.
Imagine – a car that costs $25,000 would be nearly $6,000 more – just for the national sales taxes.
This is obscene and irresponsible. What is even more insane is that people thought this man “won”. Do we live on the same planet?
Want to throw this country into a depression and destroy the GOP… oh wait, Herman Cain is a libertarian. That makes sense.
“…Wallace asked Cain about his ideals surrounding abolishing the Internal Revenue Service, and establishing a Flat Tax system at 23%, citing experts who say that such ideals would force taxes on new home sales, rentals, and healthcare, and would result in breaks for primarily the wealthy upper class. Cain replied that “experts are dead wrong” because the 23% flat tax would replace all federal income tax, the payroll tax, while every American family would receive a “prebate” to offset taxes paid on consumer goods. Cain called for replacing the current tax code system with the fair tax or flat tax initiative…”
Do you even comprehend what this would entail? Everything would cost 25% more. People would quit buying things. It would destroy anything of luxury, and plunge this nation into darkness. We are a nation of consumers. You think it is bad now?
Would someone please do something with these libertarians who have no grasp on reality?
With Republicans like this, Barack Obama will have a cake walk to re-election.
I would hold my nose and vote for T-Paw. That’s it. Too bad these guys don’t have the courage and honesty to admit they are libertarians and run as libertarians instead of ruining it for the GOP.
23% National Sales Tax?
Just put Barack Obama’s 2nd term on a silver platter and give it to him.