Posted on 10/13/2011 9:18:50 AM PDT by Graewoulf
I’ve learned to ignore American Idol style criticisms. I’ve actually read her plans and they’re solid, addressing spending, taxation, energy policy, education, regulation and a whole range of other issues.
http://www.michelebachmann.com/issues/americanjobsrightnow/
I stopped being concerned with approval of my peers a long time ago. I like Cain and he’s still my second choice.
I know Cain said he would do away with the Federal Income Taxes, but I haven’t heard him say anything about the State and Local Taxes. I already pay 8.3% on everything except food. If we go to Cain’s 999 I would be paying 17.3% sales tax and that would include on food.
I would vote for no one on that premise. I can balance my own checkbook. I don’t need a check-book balancer. I need a president who will stay as far away from my checkbook as possible. Allow the market to correct itself. Cut the size and spending of the government. Keep our nation safe. Enforce the Constitution. That’s what the President needs to do.
I agree. I wasn’t endorsing Cain for president (though he is still on my list of possibilities). I was simply answering the question. What we need is someone with the balls to say, “Ok congress, you have allocated $3 trillion for FY 2013. As chief executive, I am ordering the government only spend $2 trillion.”
I would hire write-in candidate Sarah Palin cuz I'd bet she smells nice ;-)
” - - - You’re using some ancient and outdated financial accounting method to make a point. - - - “
You’ve got me there! Yeah, I can’t draw fancy images like you can so I’m reduced to using words.
I try to follow the old radio announcer Paul Harvey when I balance my checkbook:
WHEN YOUR OUTGO EXCEEDS YOUR INCOME, YOUR UPKEEP WILL BE YOUR DOWNFALL.
Do you think that might work in choosing a CEO for the largest business that the world has ever know?
I know it hasn’t been tried since Van Buren was President, but some outdated financial ideas are well worth a try.
The HERMANATOR !!!!!
I agree that Bachmann’s plans are good, BUT she goes after a man who’s supporting a LARGE part of HER plan.
He agrees with her! He’s just got a smoother way of getting us there. It was a cheap shot and nothing more. Heck, she doesn’t even agree with *herself* on that point.
“Bachmann.”
Ditto.
Absolutely!
The one with the best accountant.
I don’t trust anyone with my checkbook but me.
During the last presidential election, I once made the comment that neither McCain nor Obama could be trusted to run a lemonade stand. In this election, Herman Cain has at least proved himself capable of that. I have some serious reservations about him, but not as severe as the reservations I have about the other candidates.
” - - - I haven’t heard him say anything about the State and Local Taxes - - - “
State and Local taxes are NOT Federal problems, in spite of what meddlers Obama, Reid, Pelosi, Dodd, Sub-Prime Barney, etc, etc., say.
I understand that. My point is under the 999 I would be paying 17.3% sales tax.
Kevao, I am willing to pay the 8.3% state and local as we do not have State Income Tax here in Washington State. But I am not willing to have a Federal sales tax added onto that which would make it 17.3%.
But do you not pay federal income tax, payroll taxes, or capital gains taxes?
My top marginal income tax rate will fall from 28% to 9%. My long-term capital gains taxes from 15% to 9% (short term from 28% to 9%). My payroll taxes will disappear entirely!
The prices of all good and services will decline as the corporate tax rate falls from 35% to 9%. And don’t let anyone tell you that the corporate tax isn’t paid for by us consumers in the form of higher prices.
Yes, I’ll now have to pay a new 9% federal sales tax on *new* items, but I still came out *WAAAAAY* ahead of where I am now.
And this is just a transition step to an eventual flat, national sales tax which will replace all other federal taxes.
"And this is just a transition step to an eventual flat, national sales tax which will replace all other federal taxes."
Yes I pay Federal Income Taxes. My husband and I are retired on a fixed income so we do not pay payroll taxes or capital gains taxes.
This 999 may help you but it will definitely hurt people on the bottom end.
There is NO guarantee that this would be a transition step to an eventual flat tax.
” - - - I don’t trust anyone with my checkbook but me. - - - “
My apologies to all of you. My intent of this thread was to generate thought about who we trusted to reduce our share of the Total National Debt to us, and our descendants.
Back in the day, a similar question was asked about Candidate Richard Milhous Nixon. His nickname was “Tricky Dick” Nixon. I modeled my post after that old question, but used a checkbook instead of a used car. The question below a poster of Nixon was “Would you buy a used car from this man?” In other words, do you trust this man when give him your money?
That was my intent, I hope that clarifies the topic for all of you.
BTW, I too balance my own checkbook, but I need to hire someone in 11-2012 to balance my descendants debt books.
What say all of you?
You can’t analyze the plan statically. Reducing the corporate tax from 35% to 9% will translate into lower prices for everything you buy, in spite of the additional 9% sales tax. Even those on fixed incomes will have more purchasing power.
The lower tax rates will also turn this moribund economy into a vibrant, growing economy. If any of your fixed retirement income comes from equity investments, that will also benefit you directly!
I will continue to learn more about the 999 and listen to economists who know more about the effects of 999. I will be interested to learn who the rest of the economists are that Cain says he has consulted. I wonder why he won’t say who they are yet.
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