Analysis of Herman Cain's 9-9-9 Plan

[steveh_131]

Google :

sales tax fraud


About 19,400,000 results (0.11 seconds)

That's some quality research. You should be working for a think tank or something. Your skills are clearly underutilized.

 

[rambone]

Google :

sales tax fraud


About 19,400,000 results (0.11 seconds)

Google results... lol... go to 3:28 of this video.
http://www.youtube.com/watch?v=nkuOuxRD1Bc

 

[Kagnew]

Certainly sounds dramatic. How about paying a 9% tax on what you buy, as compared to a 28% (or more) tax on what you make?

 

[EvilBlackGun]

I went to ☭hi-☭om-Mart today.

What is taxed under "Fair Tax" and what is not? 1. fresh berries 2. canned spinach 3. ½ a Sub Sandwich & a pop 4. Shaving cream 5. Tampax 6. Rubbing alcohol 7. 3-bottles of wine 8. oil-change 9. Tire rotation 10. a dozen boxes of ammo (in 2 trips) 11. Milk 12. Pop 13. canned tuna 14. canned soup 15. Photos off a storage card 16. Jockey shorts 17. cat food 18. cat-litter 19. Condoms 20. Rx for Advair. And also how it would cut, under the National Sales Tax. Thanks. EBR

 

[Prometheus]

Certainly sounds dramatic. How about paying a 9% tax on what you buy, as compared to a 28% (or more) tax on what you make?

Good, so you agree it's evil to force someone to pay money to support someone else just so they can live.

That is not even mentioning that the federal tax rate for most people is WAY less than 28%.

In any event, to tell a person: "In order for you to live, you must pay for these people over there" and then if they don't pay to throw them in a cage or kill them is wrong. It is inherently evil.

I'm glad we have established some common ground.

 

[HeadlessRoland]

Consider that the current corporate income tax rate (you can call it VAT I guess if you want) is about 25%. Reducing that to 9% is a 16% reduction in taxes on consumer goods and services.

The lowest gross income tax bracket is 10%. (Cain has said you can still deduct charitable contributions from your gross income) Then it goes up to 15% after $8500 and 25% after $34,500. Since the average income is about $60k, the average gross taxable rate is going to be about 12% without deductions. That's a 3% reduction for single folks without a lot of deductions. Figure it's a wash or a couple % increase for families.

Now we add the 9% retail tax, which partially offsets your 16% tax reduction from corporate income, bringing the total tax reduction on retail goods to about 7%.

For seniors, we've removed the death tax, and all investment taxes, and reduced the price of retail goods by 7%, and/or increased their investment ROI by reducing cost to business in which they're invested.

Ok, so we go to Cain's webpage and we find out that the 999 plan is a stepping stone to the fairtax.

Phase 2. We repeal the 9% corporate tax. We repeal the 9% income tax, we repeal the 6% (is that what it is now) FICA tax, plus the 7% employer FICA tax. We repeal ALL other taxes and increase the rate of the retail sales tax from 9% to 23%. We repeal the 16th amendment while we're at it.

Don't forget that the fairtax is phase 2 of the 999 plan. Not openly discussed in debate or anywhere except his website really.

Not only does this sound like the right thing to do, it also sounds do-able. It will stimulate economic growth, and control government spending through accountability, by only having ONE tax with ONE rate. If you change the rate, people are going to know EXACTLY what will happen to prices.

The icing on the cake would be a balanced budget amendment as well. Here's to hoping and dreaming.

I'm encouraged by the 999 plan, and all of the people who seem to support it. While it's not my favorite (I would support going straight to the fairtax), it does seem realistic.

monkey out

We have a marginal tax rate
0-$8,400 is taxed at 10% = $849.9
$8,500-$34,499 is taxed at 15% = $3,899.85
$35,000-$60,000 is taxed at 25% = $6,250

total tax on an annual income with no deductions or schedules is $11,124.75

11,124.75/60,000 = 18.5%, not 12%.

Hermain Cain is a monster and a two faced demon of the Establishment who wants to bleed America even further into the poor house using meaningless slogans and terrible half brained ideas.

 

[Hotdoger]

That's some quality research. You should be working for a think tank or something. Your skills are clearly underutilized.

Some people can't see the forrest for the trees. Whats that a maple in front of ya?

 

[Hotdoger]

Google results... lol... go to 3:28 of this video.
http://www.youtube.com/watch?v=nkuOuxRD1Bc

His numbers are off on the ice cream search.

I get:
About 403,000,000 results (0.13 seconds)

 

[Kagnew]

Good, so you agree it's evil to force someone to pay money to support someone else just so they can live.

I'm glad we have established some common ground.

What I really do think is that the greatest current evil (and his lovely bride) resides at 1600 Pennsylvania Avenue, and that the primary focus of all of us needs to be his removal and replacement with Paul, Cain, Perry, Romney, a Yorkshire Terrier, or a fire hydrant. (Any of the above would be preferable to what we've got now!)

 

[rambone]

A Critique of Herman Cain's 9-9-9 Tax Plan

Rather than taking a principled stand against unconstitutional spending, Cain’s plan merely perpetuates spending at unsustainable rates financed by a national sales tax. Cain, the former chairman of the Kansas City Federal Reserve, has no intention of tackling Medicare, Medicaid, and Social Security, the three entitlement programs bankrupting the country, nor has he articulated any coherent foreign policy, let alone one of restraint that would keep defense spending at reasonable levels. Cain’s plan will generally keep tax revenue at its current levels, perpetuating fiscal largesse that can only continue to lead America to an untimely economic demise. Cain’s 9-9-9 tax plan is a big-government “conservative’s” dream plan; it allows the welfare-warfare state to continue unabated, all under the guise of being somehow “conservative.”

 

[ZombieApocolypse]

What I really do think is that the greatest current evil (and his lovely bride) resides at 1600 Pennsylvania Avenue, and that the primary focus of all of us needs to be his removal and replacement with Paul, Cain, Perry, Romney, a Yorkshire Terrier, or a fire hydrant. (Any of the above would be preferable to what we've got now!)

You say that ... but im not so sure someone as power hungry as Perry would actually serve as a better cammander in chief than Obama .... granted it'd be hard to do worse but if any of them contestants would, i think it would be the most power hungry one that would erode our rights the most.

 

[Bummer]

I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.

 

[rambone]

Audio: Kevin Gutzman Interview On Constitutionality of 9-9-9 | The Mike Church Show

 

[KLB]

I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.

Obviously you are one of "the rich".

 

[Hotdoger]

I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.

How much rebate would you get?

 

[Bummer]

Obviously you are one of "the rich".

Obviously.

How much rebate would you get?

I have no idea about a rebate. I went to the official Fair Tax site and answered the questions. That information is what they responded with. Spendable income, purchasing power, and tax. I have to assume, complete with all the danger associated, that any rebate is calculated into their response.

Frankly, I'm cynical enough to figure that if they call it "Fair Tax", it won't be. That's usually the way that kind of thing works. After all, is the Patriot Act really patriotic?

 

[CarmelHP]

I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.

You're not supposed to objectively analyze it. You're supposed to take it on faith that it's the next good thing.

 

[CarmelHP]

Audio: Kevin Gutzman Interview On Constitutionality of 9-9-9 | The Mike Church Show

I agree completely with his analysis. The gullibility of the public is amazing.

 

[Bummer]

One of the things Gutzman mentioned that I've been amused by is the number of folks who have lamented Obama's mere two years as a Senator, but are just fine with half-term Palin and no-term (but I was a Fed Director) Cain. Gotta love folks who are consistent.

 

[Phil502]

One of the things Gutzman mentioned that I've been amused by is the number of folks who have lamented Obama's mere two years as a Senator, but are just fine with half-term Palin and no-term (but I was a Fed Director) Cain. Gotta love folks who are consistent.

Many people lamenting Obama's mere two years had plenty more to lament and did so.

"Experience" in congress does not seem to get us anywhere, since congress is a failure. It's crisis mode now, I think the dogcatcher would be just as better than obama is now.