To: justsaynomore
It would not be unreasonable for the 999 plan to result in a 10% growth rate. Ok, that's a bit aggressive, but not unreasonable.
Wishful thinking? Sure, but a solid goal for which to aim.
So wishful thinking is a solid goal? Who wrote this? Obama and Pelosi?
999 probably won't work at a level to bring in the current level of revenue ($2.2T), let alone 18.5% of GDP ($2.6T) that we historically count on to balance the budget and not nearly the 25% of GDP ($3.5T) required to pay for the current level of spending.
Moreover, Americans are smart. Americas will figure out a way to pay less taxes. If 999 doesn't tax second hand goods, the market for car and appliance repairs will sky rocket.
As mush as I like Cain, I can't get behind him because of 999.
He could convince me though if he were to be clear about how he will reduce spending to $2.2T or how he will increase taxes under 999 to pay for more spending.
I fear that 999 will be yet one more failed Washington policy that puts us over the edge of the debt cliff, that we will become like Greece. There is no room on our national credit card to fool around with one more experiment. We need to do what we know will work and that is to drastically cut spending.
To: MontaniSemperLiberi
No one says the 999 is perfect, and I’m sure the idea will be tweaked as time goes on.
The hard truth is this. Our current tax system is not sustainable. Not anymore. We are quickly on our way to the goal of the socialists.
Cain is the only one thinking outside the box.
63 posted on
10/10/2011 5:37:39 PM PDT by
justsaynomore
(Cain 2012 - http://teamcain.hermancain.com)
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