Please leave the wisecracks to other threads :)
I like it in concept, but would need to see some safeguards against the 9/9/9 becoming 23/12/43 or something.
Don’t see anybody else offering a plan. Mostly they just point out (correctly) how bad Obama is.
Personally, I’d rather go “all the way” to the Fair Tax, though.
Reagan showed us how “a rising tide raises all boats”. This is Cain’s version of that.
I don’t know all the details yet, and if this will mean I will be paying a little more or a little less – but what I can say for sure, those not paying income tax today (and I don’t mean the rich) will finally have to pay their fair share. And that is a good thing.
Like the economists said in the article, I also have a problem with layering a vat or national sails tax on top of the existing income and business taxes. You know darn good and well that the politicians will just raise taxes from their.
I support scrapping all income, business, capital gains taxes along with that all sacred deductions for everything including the home mortgage interest deduction and etc, etc.
Replace with a Fair Consumption Tax.
999 is a gateway to the Fair Tax.
seeing as Cain is a mathematician, he probably ran the figures.. and if it doesn’t bring in enough money, then raise it a bit (ug).. anyway, I like the idea. I think the people who get gubmint checks should pay a bit when they are buying their plasma tvs and playstations.
I don’t really buy much other than food or clothes, so I like the idea of paying less income tax. Most big things I buy are used...
A business tax is just a hidden sales tax. In other words, there would be a 9% personal tax and an 18% sales tax. If it were locked in the constitution with no other deductions, then it's probably better than what we have now.
I thought Cain said in the last debate that what we have now would be thrown out the window and 9-9-9 would replace it.
[they’re also flummoxed by Cain’s inclusion of “empowerment zones” for inner cities ]
Anyone have the details on this?
[they’re also flummoxed by Cain’s inclusion of “empowerment zones” for inner cities ]
Anyone have the details on this?
The SAME political pressure Congress from raising the Income tax right now applies even much more so to 9-9-9
Right now it is east to demagogue tax hikes as "making the rich pay their fair share". That become impossible with 9-9-9 since EVERYONE know ANY tax hike will mean THEY pay more.
As long as they eliminate all those deductions, loopholes, exemptions and credits, including the popular mortgage interest deduction, the 9 percent personal and business taxes are fine with me.
I also don’t personally have a problem with the 9 percent sales tax. However, if it’s a stepping stone to the FairTax, it might, like the FairTax itself, be imposed on all goods and services. I’m not sure how much people would like paying a 9 percent tax to their lawn people, roofers, plumbers, etc. Also, when combined with state and local sales taxes, the 9 percent levy might cause some economic activity to go underground.
the one thing that is certain is that the plan used today is an absolute failure. So, that is the starting point.
When you starve the beast, it forces Congress to make tough choices. Right now they can always deficit spend thinking once the debt gets bad enough, we will cave and give them more taxes.
That is what the Democrats are counting on. That once the Debt got bad enough, we would panic and sign off on massive tax hikes "on the rich".
Create a 9-9-9 program, remove all power from Congress to punish foes and rewards friends with the tax code a whole lot of "Solyndra" style pork barrel spending become political unfeasible. Everyone KNWO their money is being used on such corrupt spending. Congress people will no longer be able to brag about how much pork their are "bringing to the district" since everyone will know how much they personally are paying for it.
The basic problem right now is everyone figure someone else is paying their share of the taxes. 9-9-9 makes it clear that NO YOU are paying it. Instead of hiding in it behind thousands of business fees and taxes, you make the tax code much more transparent.
1. Taxing/Stealing and Borrowing/Printing money to produce revenue
2. Spending that revenue in order to buy votes
3. Bankruptcy and Ruin
0-0-15 will work just fine.
“But they have two serious objections. The first is that 9-9-9 might not raise enough money to fund the government even if it creates growth and federal spending is reduced. Over the years, the government has taken in tax revenues equal to about 18 percent of gross domestic product. “I’d be surprised if 9-9-9 raises as much money as current policy,” says one expert. “I’d be really surprised if it raises 18 percent of GDP.”
This expert does not substantiate his claims by saying things like “I’d be surprised”. Why say this? The 9-9-9 plan as I understand it, removes the loopholes for corporations to skip out on taxes. It even outs the playing feild by getting rid of deductions and “earned income tax credits thereby making everyone equal as tax payers. It actually creates anotther wholle class of tax payer, the drug dealers and people who work “under the table” by making them pay a 9% sales tax with the rest of us.
So unless these so-called experts you talked to Mr. York, know exactly what drug dealers and “under the table” employee’s spend on purchases, I’d argue that they are no more experts on the subject than I am.
Looks more to me Mr. York that you have an agenda. Maybe a Romney, agenda. Hmmmmmm
By the way, no one government body can change the “progressive tax” system in this country without amending the constitution.
To abolish the 16th amendment and change it with a new amendment would require super, super majorities. Even with a majority of Rupublicans I believe there would be far too many RINO’s to ever get this done. I hope I am wrong because I sure would love a simpler & fairer tax code. God knows it takes far too long to do my taxes.