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
There is a corporate income tax. The debate is whether Cain replaces the corporate income tax with a subtractive value-added tax. There isn’t a lot of difference between income and “value add”, except in what things you can deduct. Cain removes most deductions, but not certain capital depreciation deductions. But he does tax labor charges, which the corporate income tax doesn’t do.
I don’t think anybody who knows what they are talking about would confuse a sales tax with a value added tax.
Not to worry, it’s only doomsday for poor and retired whites (that is, those who don’t live in the inner city).
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