Posted on 10/11/2011 6:56:32 AM PDT by SeekAndFind
Please. People who can afford to buy new now will still buy new under the new plan. The difference is, based on my calculations for my family (and I encourage everyone to run the numbers on themselves) my husband and I will have the extra income to buy more new than we are currently.
Cain has said that in many interviews.
LOL. Who needs a 2/3 majority in Congress when they've got an Anthony Kennedy on the Supreme Court?
In fact, if the individual mandate for healthcare is ruled constitutional on even a 5-4 split, then congress will haave unlimited power to tax in addition to the 12-12-12 plan.
OMG they won't be able to buy designer jeans and shoes without being taxed, THE HORROR!!!!!!
I know that. All of the items I listed, including food, will be taxed under the 9-9-9 plan. In fact his website doesn't list any exemptions to the sales tax, not even used items. So it's hard to know what exactly will be taxed since his website says one thing and Cain has different versions of what he will tax and what he won't.
You don’t know Cain then. The way he turned failing companies/regions was to go in and cut. He got rid of franchises and employees in order to save the company. He cut hundreds of jobs to save tens of thousands.
In fact, he is the only candidate running that I believe make the cuts that need to be made. Horizontally and vertically.
Ron Paul is a man of ideas, too. But his ideas are what will keep him from being elected. Same with Cain.
[ The ignorant havent figured out that corporations dont pay taxes, that banks simply pass on punishment to the account holders, and that free schools, clothing, food, and health care are not actually free. Call me a pessimist, but I dont expect them to gain enlightenment on this point either. ]
Hidden taxes always hurt the poor more than anyone will ever realize and the poor just lap them up as “taxing those eeeevil corporations” but they don;t comprehend the costs get passed down the line and stifle productivity and encourage shipping jobs overseas.
A naked tax in the light of day is a good thing because it becomes very unpopular to ever raise it and everyone will revolt on rumours of raising it.
Hidden taxes are a very “Re-Progressive” idea.
But that doesn't mean Cain's plan is any more likely to have the rates raised than the current system. In fact, it is less likely because:
(1) Because it's not a "progressive" tax rate. A rate increase affects everyone. No more class warfare calls for raising tax rates.
(2) It's transparent. The instant tax rates go up, everyone knows about it.
The biggest problem I forsee is the temptation of congress to slowly reintroduce deductions for various things. But that's the major problem with the current system (which is so big and complicated nobody can actually say how many pages are even in the tax code).
Knock it off! Quit making sense. It doesn't fit in.
[ You dont know Cain then. The way he turned failing companies/regions was to go in and cut. He got rid of franchises and employees in order to save the company. He cut hundreds of jobs to save tens of thousands.
In fact, he is the only candidate running that I believe make the cuts that need to be made. Horizontally and vertically. ]
I like the idea of cutting of tens of thousands of Government jobs to make the federal government solvent so the employees who remain who work for the government can keep their jobs.
Except that a plan for raising the rates on about half the people in the country is going to give the Democrats the 'class warfare' flag to use against the GOP. And don't think they won't be waving it for all they're worth.
The biggest problem I forsee is the temptation of congress to slowly reintroduce deductions for various things.
The biggest problem I see is getting the majority of people to vote for a man who has said they will raise their taxes.
[ The biggest problem I forsee is the temptation of congress to slowly reintroduce deductions for various things. But that’s the major problem with the current system (which is so big and complicated nobody can actually say how many pages are even in the tax code). ]
Excessive Laws/Regulations/Loopholes lead to selective enforcement which leads to the mess we are in right now.
What we really need is fewer laws and regulations and better enforcement of those laws that are left.
Oh, and I suspect that people who now DON'T pay taxes, WON'T pay taxes.
IOW, those who don't pay now aren't much likely to suddenly put their shoulder to the wheel and get off the free dole.
Problem with "taxation via representation" is that the taxed are the least likely to exert their political will. It's the freeloaders who demand more political favors. So politicians favor the freeloaders.
If taxes are spread fairly now, then more of these Occupy morons who are even too lazy to show up to a protest will just stop going to work at mcdonalds if they get taxed more now.
We're all in favor of the same goals here, you me and txeagle.
I just don't believe that a logical, rational, head-on tax solution is the solution to our problems.
I think it has to be an annual/lifetime average plenary cap on individual contribution that individual taxpayers can claim relief on, a financial talisman against the IRS vampire.
Again, handle the affairs of tax filing reform or assesment method all you want, but at the end of the day, I want a Galt Lever I can pull and get off the contribution train without having to actually Go Galt.
Right now the only way out of the crazy system, whether you're a small business millionaire or a smelly stinky protester is to literally QUIT the economy altogether.
That, to me, is the most critical nexus of the problem. We need to be able to keep contributing and growing without fear of growing reprisal from the taxman.
That's my worry, too. Once we have a national sales tax, in addition to an income tax, what's to stop the liberals from jacking up the rates and giving different groups exemptions?
It's very likely that we could end up paying even higher taxes in the future.
I don't think the liberals will ever give up the control that they can exercise with the right to tax. They slap a tax on things they want less of and give an exemption for things they approve of. Then the politicians exempt themselves from all of it.
The only way we can fix this is with a constitutional amendment that controls spending and taxes.
[ Ford and Honda currently pay a 35% federal tax rate. I their federal tax rate went down to 9%, don’t you think the competiton between car companies would cause them to lower their prices—lower them enough to cover the additional sales tax, so that the end cost to the buyer (even with the 9% sales tax) is LESS than it currently is? ]
Let’s do the Math on a 20,0000 car.
100% - 35% = 65% (How much the car is worth before taxes from feds.)
$20,000 X 65% = $13,000 (Actual price of car)
$13,000 X 9% (1.09) = $14,170 (Cost of car to Car Maker from 999)
$14,170 X 9% (1.09) = $15,445 (Price the car buyer pays)
How much did the consumer pay even after paying 9% tax?
$20,000 - $15,445 = $4,555 (Savings to the Customer)
So the customer saves $4,555 dollars on a new car which means the business could increase their profit by $2,000 and hire more workers if they wanted to and the customer would STILL save money.
You can buy great designer clothes from GAP, Lord and Taylor and many other stores when they are on sale. Clearance periods come so often that I have had to restrain my wife from going because we have clearance sales every so often. I was protesting that we have more than enough clothes already but that doesn’t stop her :(
I can’t even tell you the number of times my wife boasts of how much she saved ( buying designer clothes on sale below $10 dollars ) during clearance period. And this is the expensive state of New York i am talking about.
This worry is much ado about nothing really.
In the real world it is hard to predict how a drastic change in the economic structure would play out, that is why I tend to support a flat tax more than the fair tax. Still though what is most important is spending not how the taxes are collected. As I once heard Dr. Williams say if the government only spent 3% of GDP almost any tax system is fine.
The only deduction he has said, when discussing the details of the plan, is under sales tax is “used” items, and under income tax “charitable contributions”.
You are right, not all the details are not listed on the brochure you linked to - because it is a KISS principle.
He plans to roll out his detailed version in the near future so I am sure that will answer a lot of questions.
Even then, I am sure Cain is also going to tweak the plan as time goes on. He is talking and LISTENING to a lot of brilliant minds out there on this as well as what the people say.
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