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?”
If your are like me (I bought a farm this year) for $210,000 you would have paid ZERO tax on your home because I bought a pre-existing home. Used goods are not taxed under the 999 plan.
If you didn’t know that, you should educate yourself before putting finger to keyboard. If you DID know that then you are purposefully lying.
Sales tax on house sale? Bravo Sierra. Only Obama would propose that.
No doubt about it. Our current tax system is corrupt.
Don’t think the middle class is going to go for an 18k sales tax on the purchase of a home. That’s what is wrong with selling the details of 999 during an election rather than when in office when you have the bully pulpit.
In an election you say “I’m going to simplify the tax code.” When in office you carry out the debate about what reform you want to see.
I dunno... back in the 90s when I was married the tax code penalized married people and favored single people because the knuckleheads had the tax codes so messed up. But technically, you're right.
Obviously.
Just go to hermancain.com and click on the 9-9-9 plan. Apply your income, and remember what disappears.
15% capital gains becomes 0; 15.3% payroll tax becomes 0; 45% death tax becomes 0; 35% corporate tax becomes 9%, variable income tax rate as defined in 7,700 pages of the tax code becomes 9% after deducting for charitable gifts. Some people will go up, some will go down and $450,000,000,000 built in costs to perform the rites for the current code with go away.
The economy will skyrocket and unemployment will be cut in half.
The federal government will be out of the business of picking favorites by using our money against our own self interests.
They could. As a matter of fact they have. The highest (I believe) was 92%. But those percentages have come down and they do fluctuate.
Sales taxes only go up.
I agree with you. But this is our last chance to do this. Should we lose this election, the ability to turn it around rapidly diminishes due to the large number of free-loaders who can vote. We will then swirl down the toilet into the cesspool like so many other countries.
I guess I must have misunderstood from last night, and honestly, I have not looked into the details. But I thought Hermain said the 999 does not affect the local sales tax-it stays in operation. That was part of the apples-oranges argument.
No I'm not lying - I must need to educate myself.
Please educate me by pointing out on Cain's website where it says the 9% sales tax only applies to new goods.
Sorry, couldn’t find it on his website;
“Who will pay more? The people who spend more money on new goods,” Cain insisted. “The sales tax only applies to people who buy new goods, not used goods. That’s a big difference.”
“9-9-9 is same old ‘catchy’ sales pitch that folks have been using for years...the $.99 cent burger, the $9.99 pizza, the $99.99 tire”
No it’s not. That pitch, perhaps the most brilliant in the history of advertising, is based on people mistakenly thinking the price is less than it is. In the case of the bruger, you think of the 0 instead of a dollar, for the pizza 9 dollars instead of 10, and the tire 99 instead of 100. What are you implying about Cain’s program? That it’s tricking people into thinking two of the three nines don’t exist? This is a poor analogy.
“People just gobble it up without thinking....the one day sale....that makes you jump on the bandwagon.”
You gobbled up the similarity between 9-9-9 and 9.99 without thinking, and thereby wasted my time.
bruger - burger
“Anyone who has spent more than one day in Europe knows what a VAT does”
Okay, and anyone who spent more than one day in Europe in 1941 knows what war does. What’s the relevance of either to this thread?
“Cain’s nebulous 999 plan”
The most common criticism I hear of campaigns, aside from pure ad hominems, from high school student bodies to the presidency of the U.S., is that candidates weren’t specific enough. Glittering generalities, lacking in details, and blahblahblah. Which is true most of the time, though clichéd. Part of me agrees, and says it of candidates I hate, while part of me wants to counterargue there’s only so much time, how specific can you get?
Nevermind all that. 9-9-9 is pretty damn specific. As specific as you’ll see without there being an actual outline for a bill. Which is especialyly heartening, considering how new is the formulation (if the underlying ideas are just the old Fair and Flat taxes). This is the wrong argument against Cain. Try it out on Romney, who manages with 50-whatever bullet points to be both commonplace, unsurprising, and non-specific.
Married couples overall pay more.
If you had a dependent, you’d pay less than the married couple.
The tax code is too complex. If you make $25,000, and you have a roommate that makes $25,000, the two of you together will pay less in total taxes than the married couple if the one makes $50,000 and the other doesn’t work.
Our society requires married family units with children in order to continue.
And that's the problem - there is no place on his website that says you only pay sales tax on new goods.
Believe it or not I like Cain as much as you do, but I like the truth more. Think about it - he has changed his mind about several things in the last few days. A 9% sales tax on the purchase of a house is a significant expense, so don't you think he would have put on his website used home sales are exempt.
We both like Cain but let's not cover up the truth. Let's hope he finds a way to stop backing off his statements and just admits when he is wrong.
“Cain’s proposal is counter to conservatism.”
Why, because they’re new? Conservatives have to stick with what exists, no matter what it is? In which case, I guess, every Republican since Reagan was wrong to push back against the New Deal and the Great Society (however weakly). Anything that’s existed for 80+ years must be worth conserving.
“He proposes new taxes when what we need are spending cuts.”
I agree, spending cuts are the main problem. But we can do both. And in case you haven’t noticed, one of the big attractions of the national sales tax is that, unlike what many hoped of marginal income tax cuts, it has a fair chance of helping reduce spending. Not that Cain talks up this aspect, since naturally it would be unpopular.
Art Laffer was one of the authors of the plan. Would you expect him to denounce it?
On the other hand, Stephen Moore, one of the OTHER authors of the plan, now thinks it needs to be fixed.
That's not even a valid comparison because the federal income tax rates are based on margins. You have to compare equal incomes filing as married and filing as single. The single person gets screwed in having to pay way more taxes on the same amount of income.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.