If Obama’s tax picture were that of a small business, it would have a huge tax burden lifted, with which to hire, expand, and/or lower the prices of its product or service. In the sense that the 999 plan would benefit largely private sector players, your example is misleading.
Admittedly, Obama is “rich”, and even he would have more to invest in the private economy, having the effect of fostering further private sector growth.
I feel that any monies not sent to government will have the effect of reigning in the out of control spending that is the biggest problem we have today.
The fact that citizens in Obama’s income bracket have to shoulder the entire burden for government IS the problem. Everyone else constitutes the dependency class, now gathering in parks clamoring for more goodies from you know who. This must stop, and if people in government get to keep more too. well that’s the problem we should have to tolerate.
[If Obamas tax picture were that of a small business, it would have a huge tax burden lifted, with which to hire, expand, and/or lower the prices of its product or service. In the sense that the 999 plan would benefit largely private sector players, your example is misleading.]
Obama’s tax return actually includes a small business. So what product will be cheaper after he gets this tax cut? Maybe he’ll be able to sell his next book for $9.99 instead of $17.13, eh?
People need to get real. Most businesses like mine will see a tax hike, not a tax cut. Since the business pays 7.65% in social security and Medicare taxes now, and will pay 9% on wages under Cain’s plan, even if we post a net loss for the year, prices will not be going down. If anything, I’ll have to raise prices by 2% to keep from going broke.
9-9-9 might be a good plan for companies who manufacture a product, but we don’t manufacture products in America. Almost everything around me is stamped made in China, and that’s not going to change overnight. What works for manufacturing businesses won’t work in the service sector, or for the broader, non-manufacturing American economy.