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I can’t afford to pay both a federal sales tax on top of a state
Nerds 4 Cain ^ | 10-19-11 | OnTheOppositeShore

Posted on 10/19/2011 12:27:42 PM PDT by Brookhaven

  1. 22% of the retail price of items is due to federal taxes. When you buy an apple today for $1.00, 22 cents of that dollar is taxes.
    Herman Cain eliminates those taxes (including the 35% business tax) and he replaces it with a flat 9% business tax. Prices will go down at least 10%.

  2. Your take home pay will go up by almost 8%, because the payroll tax is eliminated.
999 means higher take home pay and lower prices. Even paying a 9% sales tax, you will walk away from the cash register with more money in your pocket than you do today.


TOPICS: Campaign News; Issues
KEYWORDS: 22strawman; 999; hermancain
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To: bkepley
999 is not written in stone, quit treating it as such. At least we are talking about tax reform instead of talking about what scraps we can get back after being taken from us.
This plan at least tries to address lightening my load and making those who do not pay into the system getting a little skin in the game.

What have the other front runners spoken of? More of the same with a little extra for illegals and free loaders.

21 posted on 10/19/2011 12:48:56 PM PDT by Michael Barnes (Obamaa+ Downgrade)
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To: petercooper

Not to mention most people’s income taxes will be lower.


22 posted on 10/19/2011 12:50:12 PM PDT by Thane_Banquo
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To: nhwingut
That (suspect) 22%, um, profit will go to the shareholders. In most cases.

Not that there's anything wrong with that.

23 posted on 10/19/2011 12:50:13 PM PDT by bkepley
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To: oh8eleven
His economic adviser has already told him to drop the 9% sales tax part of the plan.

Yep, and his economic adviser wants to replace that 9% by adding it to the payroll taxes.
9% Flat tax plus 10% Chilean deduction Plus 9% new payroll tax = 28% payroll deductions. Wonderful idea ain't it?

24 posted on 10/19/2011 12:50:24 PM PDT by TLittlefella
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To: bkepley
I think the smart thing to do ...
We agree ... STOP the damned spending, lower taxes and get rid of 90% of the BS regulations.
25 posted on 10/19/2011 12:51:22 PM PDT by oh8eleven (RVN '67-'68)
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To: nhwingut
Your apple will be $1.09.

I'm going to buy used apples.

26 posted on 10/19/2011 12:52:03 PM PDT by Bubba Ho-Tep ("More weight!"--Giles Corey)
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To: Brookhaven

The issue of price stability is not the issue with the 999 plan.

The issue is that Cain’s plan to transition to the FAIRTAX will be stripped out by Dem Senators leaving 999 bare and sent to the President who will then be faced with a challenge to sign or veto. Whoever the President is will sign because the political backlash will be too much to bear; wage earners will receive more take home pay, corporations and businesses will receive a much needed tax break and the national sales tax will become a VAT hidden away from consumers.

The issue then is that the United States will have:
1. An Income Tax
2. A National Sales Tax
3. A VAT

and over time the 9-9-9 will become 29-29-29+Hidden VAT.

Congress is full of deceit, always touting good intentions but never delivering on rolling back any tax until the grassroots has had enough, and even then the snake oil peddling politicians will use all kinds of sweet lies to fool the public yet once again.

Best to get behind the FAIRTAX and stay there.

http://www.fairtax.org/site/PageServer?pagename=about_faq

Study Study Study and Ask Questions!


27 posted on 10/19/2011 12:52:09 PM PDT by Hostage (The revolution needs a spark. The Constitution is dead.)
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To: Brookhaven
Prices will go down at least 10%.

Costs to the supplier might. However, I would not make the assumption that prices at the consumer level will. Actually, prices for American consumers could even rise, especially if the NST is not applied to exports.

28 posted on 10/19/2011 12:53:06 PM PDT by Darth Reardon (No offense to drunken sailors)
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To: Michael Barnes
999 is not written in stone

If he starts backing off of it now he'll look like a fool to most people. He's damned if he does and damned if he doesn't.

29 posted on 10/19/2011 12:53:06 PM PDT by bkepley
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To: Brookhaven

Wrong! As a retail business owner I would welcome the wider margin and use it to pay down some debt or maybe even afford some other necessities. Lower prices would be the last thing I would do.


30 posted on 10/19/2011 12:53:40 PM PDT by Wilderness Conservative
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To: nhwingut

Sure they’ll keep it, because there’s no such thing as competiton.

Competition will force prices down. Believing anything else is naive.


31 posted on 10/19/2011 12:53:50 PM PDT by Brookhaven (I oppose an electric border fence, because it might kill the alligators in the moat)
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To: Dutchboy88

Exactly, which is how it will be framed by Obamao, “he wants to tax you, I just want to tax the wealthiest blah blah blah”

Real problem I have with his idea, besides my own financial self interest, is the denizens of Babylon on the Potomac, will, at need, simply tax both incomes and sales.


32 posted on 10/19/2011 12:55:34 PM PDT by padre35 (You shall not ignore the laws of God, the Market, the Jungle, and Reciprocity Rm10.10)
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To: Brookhaven

Lowering the corporate tax rate does not necessarily mean lower prices.


33 posted on 10/19/2011 12:56:24 PM PDT by steve8714 (America is getting soft. We have a President wearing mommy jeans, probably with no fly.)
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To: Brookhaven

I can’t afford to pay my home ownership dues and my drug dealer for heroin. I’m voting for Obama.


34 posted on 10/19/2011 12:57:10 PM PDT by ImJustAnotherOkie (zerogottago)
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To: Brookhaven

Virginia, for example, double taxes one regarding income form Canada and other countries.


35 posted on 10/19/2011 12:58:14 PM PDT by Dante3
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To: bkepley
999 was a boneheaded decision. Cain is not ready for prime-time

Cluelessness doesn't become you, bkepley, it's time you started paying attention.

36 posted on 10/19/2011 12:59:17 PM PDT by tx_eggman (Liberalism is only possible in that moment when a man chooses Barabas over Christ.)
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To: bkepley
There wasn’t going to be any upside to advocating this 999 plan right now.

I agree. It can be sliced and diced like crazy which takes away from the overall theme that overhaul is needed. Besides, without a Republican House and Senate, his plan would never see the light of day - that is unless the Democrats so bastardized it that no Republican would vote for it.

37 posted on 10/19/2011 1:00:18 PM PDT by OrangeHoof (Obama: The Dr. Kevorkian of the American economy.)
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To: bkepley

And they will need to eliminate a ton of hidden taxes in order for it to help businesss and the economy.


38 posted on 10/19/2011 1:01:11 PM PDT by cld51860 (Oderint dum metuant)
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To: bkepley

It looks to me like a 27% tax increase offset by a 15 - 30% tax decrease. Where am I wrong?


39 posted on 10/19/2011 1:01:11 PM PDT by ImJustAnotherOkie (zerogottago)
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To: Brookhaven

It doesn’t matter. We can whine all we want about “the right thing to do” or “principles” but I don’t see a 9% sales tax getting through Congress. Who is going to vote for it? Besides liberals, of course.


40 posted on 10/19/2011 1:02:08 PM PDT by rhombus
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