Posted on 10/26/2011 5:05:45 AM PDT by bray
Everyone with me sends you greetings. Greet those who LOVE us in the faith. Grace be with you all. Titus 3:15
The establishments of both Parties hate the Cain 9-9-9 plan so it must be a great program and it is. The main benefit of this plan is the elimination of the IRS which will turn tax preparation into a breeze. There will essentially be one deduction for most people which will be for charity and all others will be eliminated and then taxed at 9%. The IRS is the primary institution in the District of Corruption that enslaves the American people to a system that was supposed to be voluntary but is now a confiscatory arm that threatens people at every turn. The destruction of the IRS would be a giant step towards Americas’ freedom.
Herman Cain and now Rick Perry have made bold steps towards the reformation or removal of the IRS. This will have two immediate affects for the American people of putting direct dollars into their pocket by lowering their overall taxes lowering from a 15% income tax to the 9% and elimination of Social Security taxes which represents another 11% from total taxes as well as the elimination of the Death Tax which is perhaps the most draconian tax of all. The other hidden tax that will be eliminated is the savings from not having to pay tax preparers and accounting for small and large businesses putting thousands in peoples’ pockets.
Nobody likes the idea of taxes and especially sales tax but to eliminate the need for the IRS and the expense of running such an archaic rat’s nest is a huge step in the right direction. This will add a burden to the stores and retailers who sale the goods but eliminates the complication and paperwork of the current tax system. This is not a Value Added Tax which is a tax on each step along the manufacturing process where the steel manufacturer pays a tax when they deliver the steel to the wheel maker then the wheel maker pays a tax when he sells to the auto plant and so forth. This is simply a tax when the car is sold to the customer.
The current tax system is more of a VAT tax in that it taxes every company all along the way. Any company that makes a profit in every step pays a tax which is passed onto the cost of the next step and ultimately to the customer. In reality the customer will actually be buying the products for a lower cost by not being taxed on every step of production. This is going to mean lower prices and more sales which will turn into more profits and jobs. For Dems reading this, when items you want to buy cost less you tend to buy more of them which means you have to make more leading to private sector jobs.
This tax plan will lower the costs of all goods and services by taking layer after layer of lower taxes and eliminating most tax accounting and allowing businesses to make their decisions based on economics not tax bribery. This eliminates most of the business welfare hidden inside the tax system which will lead to a more competitive, fair and fertile field for industry. This is the first step for a new tax system which will be more focused on collecting revenues rather than corrupt social engineering it has been used for.
A couple of other great nuggets in the 999 plan are the elimination of a Capital Gains tax as well as an immediate expensing of investments for companies. There are Billions of dollars being held to eliminate the paying of these taxes. This would be a huge jolt to the economy as these investors would be cashing in on profits with money ready to spend and invest on new products and businesses. The expensing of investments would allow companies to buy new machinery and automobiles that would be taken off their profits and lowering their taxes. It may only be a 9% savings but it would be a reason to purchase a good they were likely to purchase anyway stimulating rustbelt industries around the country. This would likely be an immediate boost to the auto industry but not likely to help the windmill or solar companies nearly as much.
This plan is obviously going to be lobbied against on all sides. There is no doubt it would be a huge change in the way things are done in DC. The tax system has been one of the major centers of social engineering as well as lobbyist corruption through the decades and this program would essentially end that corruption. This obviously means that all of the lobbyists and their paid off politicians will be fighting this plan with everything they have. This is going to make the healthcare lobby battles look like a squirt gun fight as these crooks are going to be fighting for their graft filled lives. Heck, it passes and DC could end up only having seventy lawyers per hundred.
Herman Cain has shown courage and leadership by bringing this idea to the campaign trail. In an age where politicians are coached to conform and stay away from big ideas he brings one of the biggest ever offered. This boldness is being rewarded in the polls as people understand the concept he is offering even if they don’t know all the details. This is an end to the IRS and tax code as we know it and have learned to adapt. His plan is the first major attempt to remove those shackles and free the people from the slavery of this system and give them an opportunity to control some of their exposure and costs. As frightening as freedom is to many, this is the first attempt to give that gift to America if it can be matched by an equal effort in reduced spending and regulations. Once again a Tea Party candidate is offering Americans a cool breath of freedom from oppression.
Pray for America
He can’t win. /s
Is that you Kraut????
Pray for America
enough braying
The bear through the barleycorn.
Problem is, do Americans still wish to be free?
I believe they do but it’s been decades since they tasted true freedom. It frightens liberals.
Pray for America
Will a federal/national sales tax require a Constitutional Amendment since the Fed gubmint can’t tax in this manner? I like Herman on many levels, but the 9-9-9 plan needs further exploration and explanation. It sounds simple, but it also unwinds many complex taxes which often get lost in the sound bites.
Only if that machinery and those automobiles were built in America. And one of the things Cain's plan takes away from corporations is the ability to treat labor costs as an expense, except for labor in 'Opportunity Zones'. That will increase the taxable income for virtually all companies and cause their income taxes to go up. Way up.
The 9-9-9 plan is a poorly thought out, unworkable mess.
Freedom=personal responsibility+work... hmmmm, don’t like how that adds up... don’t want to have to work too hard and hey, “did I do thaat?”
“Herman Cain and now Rick Perry have made bold steps towards the reformation or removal of the IRS.”
Rick Perry’s plan keeps the IRS and creates a new, optional, flat tax. Call it it the Buffet tax, designed specifically for those who think they are not paying enough.
...I don't think many Americans know what freedom is. They think freedom is the ability to move around relatively freely...period....but even this "freedom is coming under attack since the TSA has started stopping traffic in Tennessee just to be sure that there are not terrorists moving around.
Most people never realize that they do not "own" their property, they merely lease it for a while from some taxing agency. They never realize that their business are controlled by some "regulatory agency" and if they don't "volunteer" to be taxed, a man with a gun will come to their house and make you volunteer. A lot of people get uptight when it is proposed that the "mortgage deduction" be eliminated.
I could go on and on about lost freedom here...right down to the fact that our children who are attending public schools in NYC are now to be "instructed" in all forms of sexual activity, and the parents apparently cannot do anything about it.....
True freedom is a lost concept on most Americans these days....any tax system other than an income based tax, "progressive" or "flat" which would eliminate the IRS would be a step toward real freedom. The next step would be replacing property taxes with something else so that people's right to own property would be safe.
999-333=666
The devil is always in the details.
Federal tax: 9+9+9 = Freedom?
Plus another
State tax: 9+9+9 = confiscation
In addition to hidden taxes levied against everything you purchase.
Their income taxes may go up but their corporate rate goes from 35% to 9% and can expense investments immediately. Overall their taxes go down and their tax preparation becomes non existent.
Pray for America
I prefer, #1 Boortz’s Fair Tax, #2 Perry’s Flat Tax and then maybe Cain’s 9-9-9
I prefer, #1 Boortz’s Fair Tax, #2 Perry’s Flat Tax and then maybe Cain’s 9-9-9
I did not like that part of the plan when I first heard about it, but the more I think about it - I think it is a good idea. It's going to take some time to get Congress on board with completely abolishing the IRS - people too. People are generally scared of change - business has vividly shown that with the uncertainty of Obama's policies. They will hold back on new expansion and investments, until they see how things are going to be.
I think the optional part of Perry's plan helps the new plan to ease into operation much easier and quicker than just saying "we're tearing everything down and rebuilding it completely new". It DOES give people a chance to compare what their taxes will be both ways. It also gives people that have made life plans regarding their investing, saving and retiring - a chance to see how the new plan works & modify their old plans to fit the new way.
It is also a great way to quickly show us that - hey - that new way seems to be working better. Also, accountants and other people that make their living by the old plan will have time to adapt.
I think the optional aspect is actually necessary to get people on board with drastic change much easier and quicker. It's pretty smart if you think it through - and shows that quite a bit of thought was put into it.
But the amount they get taxed on goes up far more. Say I'm a company with a profit margin of 10% that doesn't operate in an 'Opportunity Zone' and half my costs are labor expenses. Where before I may have paid taxes on 10% of my total income, now I'll pay taxes on 60% or more of my total income. If my revenue was a billion dollars before then at worst I would pay $35 million in taxes on my $100 million on profits. Under 9-9-9 I could be paying 9% in taxes on $600 million or more in revenue. That's $54 million in taxes or more. Where is that good for business?
You do realize the 999 plan is a transitional plan to go to the fair tax.
Thanks
Gary
The Plan was meant to be a starting point—it did not have to be carved in stone as it was..and when Bachman made a joke with the 6-6-6 comment, I lost respect for her at that very moment; and Bachman was as capable in being president as anyone in the line up...Until we start fighting Obama and not each other [as we have enough reported corruption to draw from], President Hope will get away with all the deceptive tricks he continues to pull out of Biden’s plugs.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.