March 29, 2024

News Cymru

Two sides to every headline

Americans want a 9% increase in gas prices? – Herman Cain says Yes!

If you are an American, do you want to pay an extra 9% for everything you buy?

If you’re a business owner, do you want to have to start issuing (Value Reduction Tax) VRT/Sales Tax receipts and making quarterly VRT returns.

We do it in the UK except your VRT is 20%. As an American, can you imagine paying an extra 20% for everything you buy?

Trust me, it is not nice because we also pay an extra 20% on the price of gas. As an American can you imagine paying an extra 9% for your gas?

In the UK we have it one stage worse though. Because the government first puts on a fuel duty tax on gas which is around 60% and it then charges the 20% VRT on the fuel duty and the price of gas.

With friends that do that to you, who needs enemies?

As a European and with the birth of internet shopping, buying things from the USA is very attractive. We get to buy things from the USA with a 20% discount. Not to mention taxes are less in general in the USA which make products made in the USA even cheaper.

So if America does bring in a 9% VRT/Sales Tax, American products are going to be 9% less attractive to people outside of America.

So not only does a 9% sales tax/VRT make everything 9% more expensive for Americans, it also hurts companies who make things in America. A sales tax hurts American companies.

Herman Cain says his tax is simple, trust me, if you are a business owner, dealing with VRT/Sales tax is not simple and costs thousand of Pounds a year.

A sales tax at 9% sounds catchy, but remember what it will mean for you as an American.

Don’t let America slip into socialism, reject the Federal sales tax.

Remember, there is a candidate that wants to slash your taxes and it is not Mitt Romney

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