Posted on 10/18/2011 12:28:10 PM PDT by Brookhaven
Economist Stephen Moore, one of the architects of presidential contender Herman Cains 9-9-9 tax plan, said Cain needs to rework a critical component of the plan.
Cains plan would replace the current tax structure with a 9 percent corporate tax rate, a 9 percent personal income tax rate and a 9 percent federal sales tax. But speaking on Larry Kudlows radio show on Saturday, Moore said the sales tax should be replaced with a 9 percent payroll tax.
Ive come to the conclusion that the American people and the voters do not want a national sales tax, he said. [Cains] going to have to replace that national sales tax with a 9 percent payroll tax. And if you do that, its a total winner.
The plan has been under fire from both the left and the right since Cains recent surge in the polls. Democrats say the plan would lower the tax burden on the wealthy while increasing the burden on the middle class, and Republicans say the sales tax opens an additional revenue stream for the federal government to abuse.
Im surprised how hostile people are to the sales tax, Moore continued. When we designed this plan, I thought people would go along with the 9 percent sales tax. But the point is they wont. And why not just do a payroll tax? Its the devil we know.
At the last Republican debate, in New Hampshire, Minnesota Rep. Michele Bachmann said that if you turn the 9-9-9 plan upside down, the devil is in the details.
Moore, who developed the plan with economist Arthur Laffer and Wells Fargo wealth manager Rich Lowrie, said he would advise Cain to drop the sales tax, but that the plan was solid otherwise.
I want to be very, very clear on this, he said. I am not bearish on this plan. If you could put in place the 9-9-9 plan, oh my God, it would be like steroids in the economy.
You would have a million jobs a month if we put this in place.
I love the concept of it
but the American people will not go for a national sales tax. Theyre just afraid of it.
Well, put it that way and I it’s dead, Jim.
Series. I think this payroll tax proposal violates the very principle that makes 999 work to limit government and finally give people more power to hold their congresscritters accountable.
That point is just a summary of the excellent points you just made.
The point here is not so much tax reform and vouchsafing our freedom into the future. That requires broadening the tax base, making taxes transparent, and exponentially increasing the amount of accountability built into the system.
My hope is that those finally giving 999 a look because of the payroll tax proposal will be open-minded enough to see its drawbacks, and then let that lead them to re-evaluate what might have been a rather kneejerk reaction against the NST.
Thanks—but you’re quoting income tax rates——it’s my understanding that those rates would go to 9% and an additional sales tax of 9% (added to state sales tax) would be introduced.
Have I got that right?
I see you are once again deceiving people by not posting the whole article...shame on you.
To: Polybius
correct your crap here is the rest of the article: 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 third reason the national retail sales tax on top of all the taxes we already pay is a bad idea, is that there is already proposed legislation that replaces all of the federal taxes we pay. It replaces all current revenue. It supercharges our national economic growth, and puts the power of taxation back into the hands of the people who spend their money.
Its called the Fair Tax. Its as easy to understand as ABC! Thats the problem. Its fair. It is simple and understandable. But the politicians and bureaucrats do not want to give people more control of their own money. Thats why even though the legislation has been introduced in every session of Congress since 1999, it has not advanced. People are not stupid. Maybe they will hear us in 2012. Read more: http://dailycaller.com/2010/11/22/dont-be-vat-stupid/#ixzz1b0GyxEZ0
81 posted on Sunday, October 16, 2011 7:54:19 PM by rolling_stone
Potentially lower tax rates on savings/investment interest and possible lower goods prices are not going to make up for a 9 to 23% consumption tax.
If people want to change the tax structure from income to consumption tax, they’re going to have to figure out how to do it such that one generation doesn’t end up getting screwed by both.
Thanks for the politeness, so I’ll answer. I originally supported Gingrich, but fell of his wagon when I felt he wasn’t serious about his campaign. Briefly I followed Bachmann, but she is definitely not ready, so I switched to Perry. He is pro-life, pro-gun, pro-business, and has a very good record on the border. His 10 years of executive level political experience dwarfs the others, and he has dealt with a range of issues that I think show he is ready for the job.
Plus, he’s not Romney.
I’m not an ideologue. I am a political conservative. I don’t believe in shooting illegals at the border and I believe in states’ rights, so I have no problem with Texas letting illegals have in-state tuition or wanting to add Gardisil to its immunizations. Nowhere in Perry’s rhetoric or actions has he stated or implied that, if elected President, he will have open borders or force immunizations on states or any of the things he’s been accused of on this forum.
To the anti-Perrys, please don’t bother posting any of your talking points to me. I’ve read them all and have formed my own opinion.
Thanks for asking.
If you can’t pay cash, you can’t afford it.
That's 33.3% better!
Maybe we could provide a way to file for a refund of the tax on that new Gulfstream, provided you can prove you dipped into principal acquired prior to the advent of the sales tax to buy it, as opposed to spending your dividends, interest, royalties, whatever.
That was really rude and uncalled for.
Car loan, house loan etc.
Yep, so now everyone would pay taxes...the illegally employed, the gangsters, the trust fund rich who don’t “work” etc.
Buy a yacht, buy a diamond medallion, buy bottle service — even with cash— you still pay.
The rest of us (middle class) will then have more cash and the subsequent increased freedom to choose what to do with it.
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.
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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.
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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.
Who do you like? wow! Perry? Do you really think he would change anything?
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