Umm, there already is a 9% payroll tax since payroll is no longer a business deduction outside of those empowerment zones. The payroll would then be subject to the 9% corporate tax.
New 9-9-9?
(1) Replace the current 15.3% payroll tax with a 9% payroll tax
(2) Flat 9% business income tax
(3) Falt 9% personal income tax
Is this a better or worse proposal?
=================
November 21, 2010, By Herman Cain
"The worst idea is a proposed national sales tax, which is a disguised VAT (value added tax) on top of everything we already pay in federal taxes.
Here are three of the biggest reasons the national retail sales tax is the worst idea on the table.
First, we have a spending problem in Washington, D.C. not a revenue problem. ......
Even worse is reason number two: In every country that has established a VAT with the promise of reducing their national debt, the VAT has eventually gone up or expanded on top of the existing tax structure. ....
For the liberal naysayers who say that would not happen, you lose! Just look at the Social Security system, Medicare and Medicaid. Over the years since their inception, taxes have gone up, ...."
Giving the administration and Congress another tool to tax us and confuse us is like giving an alcoholic a key to the liquor store with no supervision, only to discover that he locks the door after he is safely inside. A national retail sales tax on top of all the confusing and unfair taxes we have today is insane! It gives the out-of-control bureaucrats and politicians in denial one more tool to lie, deceive, manipulate and destroy this country.
The SEE a sales tax, and understand just how much Uncle Sugar's free stuff is costing them.
“I’ve come to the conclusion that the American people and the voters do not want a national sales tax,”
The structure of the 9% sales tax always bothered me a bit, this new version still needs scrutiny, however. Does this mean that the employee get’s taxed twice?
How about if we -
1) Drop the income tax altogether (It is poison to a free republic.)
2) Replace it with NOTHING.
3) Shrink the size of government to fit what revenues are left from duties, posts and excise taxes (That’s all we had before 1913. We did just fine up until then.)
With no more big government to nanny the people, each man would have to be responsible for himself, his actions, and their consequences.
I happened to catch that interview. It was pretty good. The danger with 9-9-9 is that it will become 20-20-20
Guys, don’t talk him into dropping any more of the plan because then the Dems will be ALL over it because then it becomes ‘Plan 9’...
Wouldn’t that make it an 18-9 plan instead of a 9-9-9 plan?
I much prefer the Fair Tax. We desperately need to stop taxing labor (current taxes are not “income” taxes, they are labor taxes) and start taxing consumption. Moving the point of taxation from labor to consumption removes costs from American goods which are exported, and taxes goods which are imported. Given our trade imbalance, and the shift of most manufacturing overseas, we should be collecting taxes at the end of the value chain, not at the beginning.
Labor taxes are in fact value added taxes, since it in effect requires labor to add value. Taxing once at the end point is radically simpler.
Those who complain the business tax in the 9-9-9 plan is in effect, a value added tax, because it does not allow the deductability of labor costs, need to realize labor is already taxed at a 7.65% rate (business payroll tax). Net profits are taxed at 35%. I cannot see a situation where this is a significant tax hike for business. Likewise, individuals are taxed at minimum of a 7.65% payroll tax, and a minimum income tax of 10%.
It amazes me we have people screaming about “the rich” not paying taxes, etc., but if we had the Fair Tax “the rich” would have to pay taxes on everything they spent money on, including yachts, jets, Rolls Royces, etc.
“I’ve come to the conclusion that the American people and the voters do not want a national sales tax,” he said. “[Cain’s] going to have to replace that national sales tax with a 9 percent payroll tax. And if you do that, it’s a total winner.”
Just what I've been saying for the last two weeks! I didn't have a hand in designing 999, but Moore did and he is right. Still won't be a total winner. Drop the fair tax idea in place of a flat tax. People will buy it.
“I’ve come to the conclusion that the American people and the voters do not want a national sales tax,”
And how did this genius conclude that? Last time I checked Cain wasn’t doing too badly in the polls.
If he thinks he has such a good barometer for popular sentiment maybe he should run for president himself.
NO on the 9% consumption tax. It’s really a nonstarter and once people actually understand it they will oppose his plan. Sure hope Cain has some other issues to bring to the forefront quickly, because 999 is a dead duck.
I have been opposed to the 9-9-9 plan mostly due to the new sales tax hurting retired people with no income.
I like this much better. Still need some time to look into the details.
Turn it upside down, and Herman Cain’s 999 is 666
That raises the taxes on even more of the population. How is Cain supposed to get elected on a promise to jack up the taxes for most of the people?
Wrong. Cain is a rocket scientist. He figured it out. It works in Sim City, and it'll work in YOUR city.
Moore is a Cain hater. CAIN HATER!!!
Just want to be clear here, if I haven’t been on my plan, that I think Moore’s idea of replacing the NRST with a payroll tax does not fulfill the principles of Laffer that are necessary to make this plan work, not only economically, but as a mechanism for preserving our freedom.
The payroll tax just takes 999 back to the same old revenue streams, but with a lower rate.
That is not a fundamental transformation of the tax structure.
Mainly, it does not *broaden the tax base.* It just goes back to the same well at a lower rate. Without broadening the tax base, we won’t get the same results or the same benefits we could expect from a full-on Laffer Curve plan.
Apparently the Libertarian leaning Koch Brothers are the real brains behind the 999 plan. seems they are at War with Karl Roves groups.
You will be happy to know that the Kochs are working hard to get Cain in, They fund the Americans for Prosperity and other orgs.
www.flickr.com
What is this?
This is a Flickr badge showing public items from Americans for Prosperity tagged with afpf. Make your own badge here..
Defend the American Dream with Herman Cain and Mark Levin
Tuesday, September 13th 2011
Americans For Prosperity Foundation is excited to announce that businessman and GOP presidential hopeful Herman Cain will be joining Mark Levin, John Fund, Grover Norquist and many more at the 2011 Defending the American Dream Summit on November 4th & 5th at the Washington Convention Center.
..........................
Funny how they will spend billions to put a Manchurian candidate like Cain in office (unqualified/inexperienced)
Yet can’t write a check to FR a TRUE CONSERVATIVE site.