Posted on 10/19/2011 11:22:57 AM PDT by TLittlefella
Anyone up for paying $18,000 sales tax on the next $200,000 house you purchase?
I didn’t think so. And for those of us who work our way up the ladder of success
at the workplace that next promotion may require moving to another city or state
another house and another $18,000 in sales tax. We are either going to become a
nation of renters or go bust trying to move up the ladder of success.
(Hell on the Middle Class)
Cain’s 999 plan is really the 999 plus 10 plan. Maybe you forgot that you no longer
have a Social Security retirement plan or a Medicare plan. You traded them for Cain’s
9% flat rate income tax. But never fear, Cain is going to put you into his favorite
Chilean model retirement plan that mandates you contribute 10% of your paycheck.
So it’s not just 9% payroll deduction – it’s a flat 19%. Take a look at his much
touted Chilean retirement plan.
The Chilean retirement plan isn’t all what it is cracked up to be, is it?
So let’s take a look at a nice married couple just getting started in life.
One flips burgers at Mickey D’s the other works at Wal-Mart. Their combined income
is $50,000. No problem figuring the payroll deductions under Cain’s 9% + 10% plan.
Their total payroll deductions will be $9,500 leaving them $40,500.
Under the current tax system that same couple using the standard 1040EZ tax return
would pay $50,000 minus $18,700 (married couple deduction) = $31,300 taxable income.
Per page 29 of the tax table they would pay $3,861 in taxes leaving them $46,139.
There it is in black and white, the couple pays $9,500 in taxes under Cain vs $3,861
using the current tax system.Of course, I haven’t even figured in the 9% sales tax this
couple will have to pay on every burger they eat, every can of soup they eat and every
roll of toilet paper they buy.
Granted, this couple could be very thrifty and buy used toilet paper to save a little,
but all in all it’s (Doomsday for the Poor and Retired.)
Cain’s 999 plan is a great example of smoke and mirrors and Cain himself is becoming
the typical career politician flipping, flopping, and failing the truth meter.
Electrocuting aliens one day and claiming it was just a joke the the next day.
Guns and live ammo on the border one day and it ws just a joke the next day.
Trading one American hostage for gitmo prisoners one minute and not the next.
Against a national sales tax one day and then creating a plan with one the next day.
Cain said because Anwar al-Awlaki is an American citizen it is not okay to kill him,
next time Cain is asked he says it's okay to kill Anwar al-Awlaki.
Against auditing the Fed one day and then for it the next day.
Against Government bailouts one day then for them the next day.
Against a Muslim in his cabinet one day then okay with it the next day.
Against raising the national debt ceiling limit one day then okay with it the next day.
If you want to see first hand proof of Cain’s flip flops check out the video on this link:
Cain Flop Flops.
At the end of the video on that link was a dazzling display of just how ill prepared Cain
is to be President as he went round and round with Eliot Spitzer.
Cain is a man lost at sea and if we turn the ship over to him he will shipwreck us on an
island of uncertainty forever.
At first I really liked Mr. Cain and the idea of having a non career politician for a president
but Cain needs to think more and speak less about things he knows nothing about.
The truth can be brutal, democrat voters were bamboozled by Obama in 2008.
We need not be smoke and mirrored by Cain in 2012.
Don’t ask me what candidate is any better because I just don’t know.
Thomas Littlefella
As with any home purchase, you factor taxes into the cost. Be smart, don’t be dazzled by sparkly new things.
Was this post written by the Romney Campaign Committee?
Guess you missed the fact that this replaces the current corrupt failed system, it does not add to it.
Absolutely not
zzzzz
And therein lies the problem with the current tax code. Why should married couples pay less in taxes than a single person? Why does the single person get punished? I pay $4000 per year more in federal income taxes than a married couple simply because I am single. That ain't right!
Wow congratulations, you managed to post a whole rant and not get even 1 single fact correct!
I watched that “flip/flop” video. It gives such short snippets of what was said in so many cases, with so little (or no) context as to be completely without merit. It’s laughable.
You are right, and why should Santorum get 7 additional deductions for his 7 kids? Please, no more social engineering.
The Perry plan...
http://www.weeklystandard.com/blogs/perry-commits-flat-tax-reforming-entitlements_598305.html
No surpise, typical Romney campaign tactics. Romney pays his campaign-bots to deny all ties to Romney while recklessly trash talking his competitor. He has done it in every single race he has ever been in.
You would think with all his money Romney could hire better campaign bots then those who's best effort is this emotional ridden hysteric trash talk.
Ooops, you caught me picking my nose.
Exactly right about that child credit -- $1500 per child. It is social engineering.
Who needs facts when all the media, Dems and RINOs will use lies? And if their lies don’t work, they will LIE harder!
I know this has been pointed out to you numerous times, but surely you realize that $200,000 price on the house has built into it all the hidden taxes the builder paid during construction plus their profit.
So, you could be paying $16,200 sales tax on the same exact house that now costs only $180,000 assuming only a 10% decrease in retail price even though many studies show the tax burden on products is as much as 40%.
You repeatedly ignore COGS (Cost Of Goods Sold), but I can tell you this, businesses don't ignore it. You assume that all retail sales entities will conspire to not drop prices based on their lower COGS. You assume no business will lower prices to make a market share play. Yet, in reality, businesses do this all the time.
People just gobble it up without thinking....the one day sale....that makes you jump on the bandwagon. I thought freepers were smarter than that.
I’m not a 999 expert. Under the fair tax, the tax is paid by the original purchaser of a new house. Pre-owned houses do not pay a sales tax.
The builder, suppliers, manufacturers all have their taxes lowered. Competition will drive the new house prices down when these embedded costs are removed. You were already paying the tax that was a cost of doing business for the builder. Now it is up front and visible.
No, people actually learn about it. And when they bother to learn about it, they like it. See unlike you, most people are not totally closed minded about 999 out of a feverish ignorant love for the blessed St Rick.
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