Art Laffer endorsed 999. Just saying
Well, what would one expect from a neophyte...
40% of the cost of everything you buy, from a home to a car to a toothbrush is tax upon tax upon tax. When the GNP is 10 trillion dollars and the government spends 4 trillion dollars ...where do you think the 4 trillion comes from?
Buy a car? 40% of the cost is layers of taxes assessed on the earnings of everyone involved from the guys that dug the ore out of the ground to the guy attaching the windshield.
People like you need to get a clue.
The same person who currently collects sales tax for your illicit crack cocaine transactions.
If you don’t know the details of the plan as you have just admittted to everyone then how can you call it a terrible plan?
Back to the drawing board for you. Sheeze...
We are 13 months away from the election.
The Hermanator is introducing general principles and sparking a debate on whether that is the right direction to go in.
That is exactly what we should be doing now. The parallel you are trying to draw to Obamacare is stupid.
I like Cain. But is his 9% sales tax on top of my 7% local sales tax? That’s 17% on everything I purchase...
BS !
Cain's proposal is at least a serious attempt to do away with the abomination which is our Federal Tax Code. I think I, nearing retirement, would come out behind. If that's the case, so be it. The country, going forward, would be better off. If we all stick to a "What's in it for me" attitude, we'll never escape the Welfare State the establishment has foisted upon us.
ML/NJ
The “9-9-9” plan is a proposal, not a full-scale legislative bill ready for submission to the US Congress.
It would take years, and a considerable change in attitudes, before this or any similar plan may be accepted by the legislative branch. So far, we have “think tank” appraisal of the merits and flaws of this proposal, and nothing is set in stone.
Before ANY taxation scheme is ever agreed to, a Balanced Budget Act resulting in an amendment to the US Constitution has to be in place. As of now, there is nothing that prevents Congress from making an end run around this or any other tax proposal, and raising or modifying it on a simple majority vote. Requiring a two-thirds concurrence of BOTH Houses of Congress, and Presidential approval, tends to make any changes to the level of spending or assessment of new taxes compliant to a much higher threshhold.
Time we were talking about spreading the burden of supporting the government widely enough so EVERYBODY has “skin in the game”. Paying for government is not only the province of the wealthy, you know, because there is no reliable way of taxing wealth. With the right incentives, great wealth may be harnessed for the benefit of all.
But the “all” have to provide their capability to carry the load too. And a consumption tax falls on the wealthy and less wealthy alike.
My feelings exactly.
999, in the real world, translates to:
1) Pass the national sales tax, while keeping the income tax too.
2) Trust Congress not to raise tax rates anymore.
Hey, what could go wrong?
I am excited about it because FINALLY a wanna-be elected official is talking about serious tax reform again.
Cain's plan may not be perfect--or even doable--but it is certainly the conversation that needs to happen.
“I just had a yard sale and sold my lawn mower for $100. Who is responsible to collect the $9 sales tax from the buyer? “
Nobody because there would be no tax on used items. Only on new, retail items.
As it says on Cain’s page.
Pretty obvious.
Didn’t you post this same stuff a few days ago?
Here’s one for ya. I also went to the site and saw little of nothing for such a grand plan.
Good post. You may get some heat. But perhaps some will settle down and put on their thinking caps.
Most of your rant is about things that have nothing to do with the 9-9-9 proposal. The sales taxes is on new item sales only; it's been stated and written many times in many venues. Sell your lawn mower? No sales tax. Buy an older home? No sales tax. Buy a pre-owned car? No sales tax.
I heartily agree more detail needs to be posted to the site. Clearly there's a more detailed version than outlined because Cain said he had it independently scored.
You're attacking him on something you say will never get passed anyway. Obviously you oppose Cain so who are you for?
Who is the moron that wrote this piece? He doesn’t even know there is no tax on used stuff and proposes to tell us about the plan? Oy!
May I respectfully ask that you propose something better? I think if we want to save this country from the coming economic disaster we need to do something about the current repressive job killing redistribution scheme that Congress uses to enslave us and reward their cronies. I know that Cain’s plan is by no means perfect and stands little chance even in a Republican controlled Congress, but I’d rather not elect another smug politician willing to nibble at the edges of the problem and tell us that kicking the can to our children is a much better plan.
Hey people are talking about 999. What other plan are they talking about?