Phase 2 of Cain's 999 plan: The FairTax!

HermanCain.com ^ | unknown | Herman Cain

[UnwashedPeasant]

Few seem to know it, but Phase 2 of Cain's 999 plan is the FairTax. Cain's website says the following about the FairTax:

1.) Amidst a backdrop of the economic boom created by the Phase 1 Enhanced Plan, I will begin the process of educating the American people on the benefits of continuing the next step to the Fair Tax.
2.) The Fair Tax would ultimately replace individual and corporate income taxes.
3.) It would make it possible to end the IRS as we know it.
4.) The Fair Tax makes our exported goods and services the most competitively internationally than any other tax system.

[AzNASCARfan]

Well I guess I can understand why that is a concern of many, it is a common arguement I hear. I dont know, it may be a possibility early on, in a transitional phase but that could be a VERY good thing too... If what you are saying is true, not spending, would encourage saving money... which most of America (me included) is in dire need of. The prebate covers taxes on all your necessary spending (up to poverty level) so grocerys etc. are not an issue, but then a little while down the road, you have piles of cash, accumulating in your bank account, because you are not spending anything, you are getting your whole paycheck tax free... you can save or invest your money without getting taxed on what it earns... I personally think the Majority of America’s mentality is too much of keeping up with the jones and trying to outdo the neighbors... From my observations, most of America lives in a completely disposable world, when it breaks, buy a new one... dont even try to fix the old one, just toss it. It seems to me, at some point when they had the extra cash sitting there, they would spend it, especially when they realize that 60” LED TV is still the same price after the Fairtax as it was before.

I know I pay attention to every penny I spend, I dont buy much unless I know I am getting the best price I can on it. I do most of our grocery shopping because I go spend $100 on a weeks worth of food, by hitting the sales at a couple stores, my wife takes the same $100 and we eat 2 or 3 nights... But most people I know are not like that at all, We got into a conversation about gas prices and I was amazed that most of my office (a couple years ago when I still worked in a office) did not specifically go to a gas station that was at least usually the best price in their area, they simply went to the most convienent station, or just stopped somewhere when they needed gas, it blew me away, that they did not care about saving a buck or two or more, by driving a mile down the street and turning in across traffic.

[Fresh Wind]

You don’t think getting rid of the 70,000+ pages of federal tax code isn’t a good thing?

[precisionshootist]

“I do most of our grocery shopping because I go spend $100 on a weeks worth of food, by hitting the sales at a couple stores, my wife takes the same $100 and we eat 2 or 3 nights... “

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I thought I was the only one! I try to never let her go to the store cause she will spend $160 and we will still need bread, milk, etc. I seriously don’t know where the money goes when she goes grocery shopping. LOL!

Glad to hear I’m not alone!