Herman Cain's '999 plan'

[tydas]

http://www.csmonitor.com/USA/Electi...99-plan-long-overdue-tax-reform-or-job-killer

So, if you are elderly and on a fixed income you are screwed by this plan. Most elderly are not paying any income tax and now their cost of living goes up by 9% or more, while we slash corporate taxes to create jobs (which they don’t want or need)…now times this by 100 as the baby boomers retire.

 

[her209]

Nein Nein Nein

 

[Anarchist420]

http://www.csmonitor.com/USA/Electi...99-plan-long-overdue-tax-reform-or-job-killer

So, if you are elderly and on a fixed income you are screwed by this plan. Most elderly are not paying any income tax and now their cost of living goes up by 9% or more, while we slash corporate taxes to create jobs (which they don’t want or need)…now times this by 100 as the baby boomers retire.

This is an increase in corporate tax for at least a few big corporations, but I agree that it's stupid. Like most Republicans he wants everyone to pay their "fair share". He's not trying to reduce taxes in anyway.

It's also not going to do jack dempsey shit (or at least not much) for the economy, because it's supposed to be revenue neutral. It may reduce the cost of health care since corporations won't get a deduction for health insurance expenses under the 9-9-9 plan, but other than that, it's worthless. What really needs to happen is a repudiation of the Federal debt so that interest rates will go up. That will encourage savings and investment and reduce prices. If the credit supply were to contract like it would if the Federal government were to do a hard default, then people won't have to worry about not receiving a full cost of living increase. If they lose their job due to their firm/employer being in debt, then they'll be re-employed quickly if the government were to not interfere.

 

[dank69]

Bachmann's comments on the 'plan' were great.

 

[Lemon law]

Another regressive flat tax idea that would be an economic disaster.

But it would sure be great for someone independently wealthy like Cain.

He makes no income so he pays no income or corporate tax, and since his saving as so large, he is only taxed on what he consumes. Enabling him to evade 99.9% of taxes, while others on limited or fixed incomes paying even more taxes.

That is exactly the problem we have now, more and more national wealth is transferring to the 0.1% of those that are most wealthy, and now ole Herman Cain wants to accelerate the process.

In the old testament bible Cain slew Able, and now in the new GOP bible, Cain wants to slay the American economy.

 

[Nintendesert]

Another regressive flat tax idea that would be an economic disaster.

But it would sure be great for someone independently wealthy like Cain.

He makes no income so he pays no income or corporate tax, and since his saving as so large, he is only taxed on what he consumes. Enabling him to evade 99.9% of taxes, while others on limited or fixed incomes paying even more taxes.

That is exactly the problem we have now, more and more national wealth is transferring to the 0.1% of those that are most wealthy, and now ole Herman Cain wants to accelerate the process.

In the old testament bible Cain slew Able, and now in the new GOP bible, Cain wants to slay the American economy.

You with the bible shit sound like that moron Bachman. :whiste:

 

[cubby1223]

He makes no income so he pays no income or corporate tax, and since his saving as so large, he is only taxed on what he consumes. Enabling him to evade 99.9% of taxes, while others on limited or fixed incomes paying even more taxes.

That is exactly the problem we have now, more and more national wealth is transferring to the 0.1% of those that are most wealthy, and now ole Herman Cain wants to accelerate the process.

I love the logic in your statement.

People who "make no income" are draining more and more wealth away from the rest of us.

How exactly does that work? If wealth is transferring to him, his wealth must go up. But you clearly stated it is not.

Once again you're just thinking about your talking points, trying your damnest to make the facts fit your story, even if they don't...



What taxes is he evading? My understanding is he paid the taxes owed on the money he possesses when it was earned as income.

Or do you not believe in private possession? That everything belongs to society? What is it? Your logic isn't making sense as you state in your post.

 

[tydas]

Hold on, I just found out that the 'yacht' building industry is in severe financial distress so we need to have a temporary moratorium on VAT for them...don't worry, we will increase the tax to 10% to make up the difference...oh, and since we never totally got rid of income tax lets raise that a bit as well...

 

[Modelworks]

The only fair way to tax is equal taxing for the rich and poor. I fit into the poor category far more than I do the rich and while I do not want to pay more in taxes I understand the economics of it. If the cost of schools is $100 per taxpayer then that is the cost. It isn't fair for me to say that someone else should pay my share because they have more money. If I don't like the current cost of schools then I should see that the government cuts cost, not look for the funds elsewhere because I can't afford it.

Doing things where the more wealthy provide for those who cannot afford it is what has allowed the country to get in the state it is in. People have adopted the entitlement mindset that if they can't have it then someone else should provide it for them . Sorry but if I don't have the money to pay for something it is my responsibility to either shop elsewhere or earn more, not beg other shoppers to pay the amount I fall short.

 

[Atreus21]

At this point, almost any tax reform is preferable to the royal cluster F that we have now.

 

[Anarchist420]

The only fair way to tax is equal taxing for the rich and poor. I fit into the poor category far more than I do the rich and while I do not want to pay more in taxes I understand the economics of it. If the cost of schools is $100 per taxpayer then that is the cost. It isn't fair for me to say that someone else should pay my share because they have more money. If I don't like the current cost of schools then I should see that the government cuts cost, not look for the funds elsewhere because I can't afford it.

Doing things where the more wealthy provide for those who cannot afford it is what has allowed the country to get in the state it is in. People have adopted the entitlement mindset that if they can't have it then someone else should provide it for them . Sorry but if I don't have the money to pay for something it is my responsibility to either shop elsewhere or earn more, not beg other shoppers to pay the amount I fall short.

How about we abolish public services? You pay at least one federal excise tax don't you?

We don't need "fairer" taxes, as what's "fair" is totally subjective; we need no taxes or at least very decentralized taxes. I've never understood what is wrong with the state-rate tax (where the taxation is administered and collected by the states, then the monies are submitted to the Federal government based upon the U.S. House Representation of each state). That way, the majority in each state can decide what works best and there will be no federal policing and no more federal borrowing. It's much easier to get rid of debts at the state level than it is at the federal level.

 

[xBiffx]

At this point, almost any tax reform is preferable to the royal cluster F that we have now.

Here here!

Also, if everyone pays 9%, can't we all feel like millionaires then? At least at that point, we are treated the same, in the eyes of the IRS.

 

[Ausm]

9.99 is at what he charges for his pizza's? Oh good luck getting something like that through Congress

 

[KGB]

Cain's Chief 'Economist'

 

[quest55720]

Early on I was a Cain supporter. Between the 999 and his anti Islamic statements I gave up on him. I do hope who ever ends up winning can pass major tax reform. Lower rates and get rid of every single loop hole. Go to the rates the Simpson commission recommended.

 

[werepossum]

The only fair way to tax is equal taxing for the rich and poor. I fit into the poor category far more than I do the rich and while I do not want to pay more in taxes I understand the economics of it. If the cost of schools is $100 per taxpayer then that is the cost. It isn't fair for me to say that someone else should pay my share because they have more money. If I don't like the current cost of schools then I should see that the government cuts cost, not look for the funds elsewhere because I can't afford it.

Doing things where the more wealthy provide for those who cannot afford it is what has allowed the country to get in the state it is in. People have adopted the entitlement mindset that if they can't have it then someone else should provide it for them . Sorry but if I don't have the money to pay for something it is my responsibility to either shop elsewhere or earn more, not beg other shoppers to pay the amount I fall short.

I agree with that, with the caveat of only taxing income above the poverty level. Also, I think capital gains should be taxed as ordinary income (adjusted for the length on investment for long term investments.) I applaud anyone who has earned and saved enough money to allow his money to support him, but I don't think morally it's defensible to give him a lower tax rate than the man who earns his own bread with his sweat.

That said, I don't like this 9-9-9 plan at all. Funny thing, I went into this cycle loving Cain from his appearances on (and in place of) Neil Boortz, but he keeps metaphorically kicking me in the face with bad ideas. At this rate he'll soon be not much better than Obama, at which point the devil you know becomes more attractive.

 

[Siddhartha]

http://www.csmonitor.com/USA/Electi...99-plan-long-overdue-tax-reform-or-job-killer

So, if you are elderly and on a fixed income you are screwed by this plan. Most elderly are not paying any income tax and now their cost of living goes up by 9% or more, while we slash corporate taxes to create jobs (which they don’t want or need)…now times this by 100 as the baby boomers retire.

Mr Cain's tax plan does three things that the GOP likes:

1. Gives a simple solution to a complex issue.

2. Cuts taxes for the wealthiest. Screw the middle class and the poor.

3. Reduces Federal Government tax revenues which will justify over turning the New Deal and eliminating other safety net programs.

 

[Anarchist420]

Mr Cain's tax plan does three things that the GOP likes:

1. Gives a simple solution to a complex issue.

2. Cuts taxes for the wealthiest. Screw the middle class and the poor.

3. Reduces Federal Government tax revenues which will justify over turning the New Deal and eliminating other safety net programs.

It won't reduce the Federal Government's revenues.

 

[Dulanic]

Mr Cain's tax plan does three things that the GOP likes:

1. Gives a simple solution to a complex issue.

2. Cuts taxes for the wealthiest. Screw the middle class and the poor.

3. Reduces Federal Government tax revenues which will justify over turning the New Deal and eliminating other safety net programs.

My taxes would go up nearly 10% under his plan and I am what they consider upper middle class area too. His plan is absolutely to cut taxes for the rich and hit the lower and middle class. It is VERY short sighted.

What happens when you offload to the middle class? Consumer spending plummets which causes the economy to go down the shitter due to lower consumption which leads to lower profits for companies. This spikes unemployment which snow balls into even less consumer spending and less corporate profits.

 

[KlokWyze]

Regressive tax. Doesn't solve anything, but @ least he appears to be BOLD.

 

[Doboji]

It won't reduce the Federal Government's revenues.

How ya figure that?

 

[Bird222]

The only fair way to tax is equal taxing for the rich and poor. I fit into the poor category far more than I do the rich and while I do not want to pay more in taxes I understand the economics of it. If the cost of schools is $100 per taxpayer then that is the cost. It isn't fair for me to say that someone else should pay my share because they have more money. If I don't like the current cost of schools then I should see that the government cuts cost, not look for the funds elsewhere because I can't afford it.

Doing things where the more wealthy provide for those who cannot afford it is what has allowed the country to get in the state it is in. People have adopted the entitlement mindset that if they can't have it then someone else should provide it for them . Sorry but if I don't have the money to pay for something it is my responsibility to either shop elsewhere or earn more, not beg other shoppers to pay the amount I fall short.

I agree with that, with the caveat of only taxing income above the poverty level.

Doesn't this just undermind what Modelworks said above? In essence, you are having the 'more wealthy' pay for the poor.

 

[Bird222]

He has been saying that the employees will be saving 6% because their payroll taxes will go from 15% to 9%. In addition this 6% savings will help workers offset the 9% sales taxes. Either he is ignorant or plainly lying because workers don't pay 15%, they pay half of payroll tax and the employers pay the other half. So again corporations get another break. After I heard this I knew he was full of shit.

 

[Lithium381]

He has been saying that the employees will be saving 6% because their payroll taxes will go from 15% to 9%. In addition this 6% savings will help workers offset the 9% sales taxes. Either he is ignorant or plainly lying because workers don't pay 15%, they pay half of payroll tax and the employers pay the other half. So again corporations get another break. After I heard this I knew he was full of shit.

how is that shitty when a corporation gets a 3% break on payroll taxes? (15-9)/2 roundedup. that adds up to a lot of dough that could go to offset oppressive policies from the regime

 

[Ausm]

Here is a good read on Cain's 999 plan.

http://finance.yahoo.com/news/Herman-Cains-999-tax-plan-cnnm-976918316.html?x=0