Note to all the other candidates........you may not like his plan, and I am sure plenty of fault can be found in it.......but, at least he HAS a plan, ya know, something to be debated...what kind of plan do the other candidates have???( I already know the answer )
“Note to all the other candidates........you may not like his plan, and I am sure plenty of fault can be found in it.......but, at least he HAS a plan, ya know, something to be debated... “
Exactly. The best boss I ever had told me, if you aren’t making mistakes, you probably aren’t doing anything.
You can refine a plan. What do you do with nothing?
Especially from a woman who told us last night that 22+5=28... when referring to her kids!
Fact is his plan is still a lot better than the existing system.
Sure, but debate which plan? The 9-9-9 plan on his website which specifies a 9% sales tax on everything and allows for only income tax deductions for charitable donations only? Or the 9-9-9 plan he lays out depending on who he's talking to and which only taxes new goods...or exempts taxes on food...or some other wrinkle? Or the other part of his website which contradicts his 9-9-9 plan by calling for a tax deduction for medical insurance and which allows for health savings accounts, which I assume would also be deductible? It appears that Cain has more plans than Carter has pills. It's kind of hard to pin down exactly what we're supposed to discuss.
That's true -- and I say this as a Cain supporter --, but he has seemingly staked his entire campaign around this plan and it just isn't very good. And I don't see how he can walk it back as its unpopularity grows.
I suspect it would never pass were he elected, but that's not a very strong reason to ignore its flaws.
I took the time to read the plan, and frankly it is brilliant. You have to take the time to consider how dollars move through the economy and how taxes are currently collected to understand how the plan takes all of this into consideration.
Overall, it works out to a small tax cut also. Throughout the 20th and 21st century, the federal government has taken between 18.5% and 20% of GDP in revenue, regardles of tax rates. Cain's plan limits govt. tax revenue to 18%. 9-9-9 would look like 27%, but money gets taxed as either income (9%) or business (capital gains and dividends - 9%), not both, so money only gets taxed as 9% + 9% = 18%, regardles of which path it takes to the point of sale.
Combine that with the fact that a national sales tax really hits imported goods hard and profits from foreign business can be brought back into the US without additional taxes and this plan will create a boom in US manufacturing.