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
“You are right, and why should Santorum get 7 additional deductions for his 7 kids? Please, no more social engineering.”
“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 don’t understand how you can say that. There are massive threads right here on FR that refutes your claim. People are analyzing and researching everything about this plan.
From what I’ve seen, the ones who are against it are the ones who aren’t thinking. They just keep rehashing the same old arguments that are intelligently refuted time and time again.
I agree with you, but there is a difference between speaking ill of a candidate and exposing the truth.
“Isn’t Cain’s 9% federal sales tax only applied to purchases of new items? Aren’t used items exempt? “
80% are positive toward 999?! That’s the best news that I’ve seen all month! :)
My biggest fear of this plan is that it creates a new government revenue stream with the national sales tax. If the percentages across all three streams had an ironclad guarantee of 9% (could never be increased), then I would consider it but that is just not possible.
So instead we should not fight for what is right but instead preemptive surrender because the Leftist media will attack us.
And then Conservatives wonder why they never ever win any policy issue.
Hate to burst your bubble, they are going to attack who EVER the GOP nominee is, preemptive surrendering to their demagoguery will not “save” you from it.
What to stop the Congress from right now raising tax rates 20-30-40%?
The same fear you express here about 9-9-9 applies to an even great extend to the existing tax code.
It is actually harder to raise taxes with 9-9-9 then it would under the existing system. Since everyone pays, everyone knows they will pay more for ANY tax hike. Currently Congress can hid tax hikes by playing with deductions and loopholes or by targeting the tax hike to certain income groups. That power to play games with the tax code goes away under 9-9-9
“My biggest fear of this plan is that it creates a new government revenue stream with the national sales tax”
He gets rid of one revenue stream (15.3% payroll taxes) which is hidden and replaces it with a revenue stream 9% which is visible.
The other 2 revenue streams (income/corporate) are already there.
Why aren’t you fearful of all the other revenue streams that the gov’t has right now? Isn’t one, highly visible, tax better than a dozen hidden ones?
I’m a lot less afraid of one tax that puts pressure on every American and that everyone can see than I am of the sneaky taxes that choke us in our sleep.
I do like your style - you need to be a Cain adviser so you can explain to all of us Cain's nebulous 999 plan. You are obviously a man of great intelligence in complete control of yourself.
If you turn "999" upside down, and you get "666."
Isn't 666 the mark of the beast?
You might as well give this one up. It’s never going to sell. Families are the cornerstone of civilization, and will always be favored in our tax system. I promise, you won’t see it undone in this lifetime.
Current Tax System vs. Herman Cain 999 Tax Proposal
What would happen to the cost of a new house?
Retail price:
Now = $200000.00
999 = $170040.00
Local sales tax pct rate = 0.00%
Local sales tax dollars:
Now = $0.00
999 = $0.00
999 federal sales tax pct rate = 9.00%
999 federal sales tax dollars = $15303.60
Total cost with taxes:
Now = $200000.00
999 = $185343.60
Dollars saved with 999 plan = $14656.40
22% of the current cost of retail items is due to the current tax system. Herman Cain’s plan removes this hidden tax and replaces it with a 9% flat tax. The 999 price in this calculator has been adjusted to reflect this fact. Yes, that’s right. Retail prices willl go down under the 999 plan. The effect of the current tax code on retail prices has been well documented by the FairTax supporters. You can obtain documentation for this at fairtax.org.
Turn the current tax code upside down, and you get...
a hernia
The current tax code is 70,000 pages long. People are worried about "the devil in the details" of a plan you can hold in your hand (999), but they aren't worried about the devil in the details of the 70,000 page tax code?
The IRS now officially refuses to gurantee any tax advise they give you is correct. You can be sent to prison for not complying with the current 70,000 page tax code, even if you are following the IRS instructions to the tee.
That's the "devil in the detail" I'm worried about.
Currently, yes. But under Cain's plan they would no longer have 15.3% deducted for Social Security and Medicare, meaning their combined incomes can be increased to $57,650 without any cost to their employers.
9% federal income tax is $5189. Using the "Chilean model" only the first $33,360 in annual wages is taxed at 10%. So, that's $3336.
Therefore, $57,650 - $5189 - $3336 = $49,125 after taxes. Under the current tax system they have $46,139 after taxes.
Gosh. Which one is better?
That's where I'm planning on saving money big time.
We don’t need our president to be a mathemetician, especially when he is bad at it.
Cain’s proposal is counter to conservatism. He proposes new taxes when what we need are spending cuts.
He is woefully lacking in leadership ability.
“Exactly right about that child credit — $1500 per child. It is social engineering.”
You are correct. If my wife (due with our son in early January) delivers instead on December 31st, we will get an extra $1500 in our tax return. Right now I am planning to tithe on it and then possibly donate the rest to the Cain campaign.
Simple minds love simple “solutions.”
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