Posted on 10/12/2011 8:34:49 PM PDT by 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.
(Excerpt) Read more at hermancain.com ...
“And yet, with zero corporate tax, zero FICA, zero Medicade, zero income tax...
You really don’t see prices dropping enough to mostly offset the sales tax??
As far as people only spending what they need to spend...
GOOD! We’d have more people saving and less people sucking hind t*t when it comes retirement time.
People are spending too much. This is how we got into the housing and credit crises. To much easy money. Too many easy loans.
Then people get old or hurt and look to the productive to bail them out.
Last time I checked, that was socialism. We need to encourage savings.”
No, don’t fall for that liberal, we need to cut back, we need to downsize, we need to comprimise load of leftist crap. We the American people DO NOT SPEND TO MUCH, We the American people ARE NOT LIVING HIGH ON THE HOG.
It’s the Government that SPENDS TO MUCH OF OUR MONEY. It’s the Government that is LIVING HIGH ON THE HOG AND WE ARE THE ONES PAYING FOR IT.
Quit worrying about what other people save.
Get the government out of our pockets and THEN if someone goes broke buying to much crap and not saving you can accuse them of this nonsense.
I like to buy lots of stuff yet somehow the largest single expenditure for my family every single year is TAXES!!
So much for serious discussion of issues in this election from GOP candidates. One says of Cains plan that it reminds him of pizza and another some twisting 999 into 666.
The country is lost if this is the best the GOP can offer in response to a serious proposal. Those two candidates will never get my vote. They would drive the country off the cliff while grinning and sounding stupid.
Huck, you are uninformed. That is not unusual for you but I have hopes you will educate yourself before spouting off. So far I have been disappointed.
That’s for that vacuous bit of nothing. It was totally meaningless.
And save a pretzel for the gas jets. Ice cream is cheap. Fact.
Do you mind explaining how you’re coming up with 33% in addition to what you’re already paying?
Thats is so off point. your comment makes no sense
I have savings and investments that have already been taxed. Under the unfair tax, it will be be taxed AGAIN when I spend it.
Real mature, Huck. I think we can do without the animosity and hate seen only on the DU.
Wait a minute.
You have investments?
Wouldn’t it be nice if those investments grew? Wouldn’t you appreciate a larger return?
Again, if your phone bill, internet and gas prices dropped sharply AND if you had more money coming in, can you at least admit that there is a possibility that you won’t be worse off than you are now?
And then some moron comes along and says "well you dont have to buy anything. You can buy used." You can bite me.
+1 Like
You are not properly educated about the Fair Tax. It is the one that eliminated the IRS, not the Flat Tax. With the Flat Tax the IRS is still in place making sure everyone is reporting their income properly. They are still collecting data on all you do whether there are any deductions or not. They want to make sure you are reporting ALL your income. They are still there looking over your shoulder. That is not true with the Fair Tax.
Also, the Fair Tax is applied only on new retail purchases, not everything you buy. Buy used, no tax! With the elimination of the FICA you immediately keep more money in your pocket. The Fair Tax is by far the best way to go. The European plan was a Value Added Tax which adds costs each step along the process of getting something from concept to market. That greatly increases prices. The Fair Tax only taxes at the end and it only taxes new items, not used.
What part of "corporations will not lower prices when their taxes go down" don't you understand, Marie? Why should they? Have you ever been in the corporate world? Sheesh!
And what part of "once the sales tax is added, it - and the corporate tax, and the income tax - will then be raised once again by Congress, as proven absolutely and beyond a shadow of a doubt by history" don't you understand, Marie?
999 doesn't cut spending. Spending is the problem - not raising more tax revenue! 999 doesn't get rid of the income tax. 999 adds a gigantic new federal sales tax, on top of state, county and city sales tax.
The ONLY thing that makes this plan look like anything other than the complete economic destruction it represents is the flat-out lie that these rates will stay at 9%, and then the graduated income tax will be gotten rid of later in favor of a flat tax.
Horsepucky. There is NO WAY the Rats and RINOs would EVER let that happen. They'd 1) completely block getting rid of the income tax, and 2) OBVIOUSLY raise the 999 higher and higher and higher.
A conservative should be running on CUTTING SPENDING - not adding entirely new tax streams for the government to play with! Geez!
Maybe I've missed something but I haven't seen anything in 999 about repealing the 16th Ammendment, That is a must.
I’m with you on this one. A federal sales tax will doubly penalize everyone who has managed to acquire wealth over the years. It would be especially hard on the elderly who generally live on fixed incomes from past investments and savings. People who haven’t lived responsibly, deferred gratification, and saved for lean times would be the big beneficiaries. Plus, I’m not keen on giving the federal government new powers to tax us. What’s wrong with reforming the existing (and constitutional) income tax system into something more closely approximating a flat tax?
Nope. 9-9-9 you get a national sales tax AND an income tax. You have to wait til phase 2 for the income tax to go away. Of course, then the sales tax goes up to 33%. That’s the new Tea Party—Tax Everything Already.
You come after another 33% of my already taxed earnings, you’ll get animosity.
Talisker: “Spending is the problem - not raising more tax revenue!”
Bears repeating! Some FReepers are applauding Cain’s innovative scheme to find new ways to fund the federal government. They are missing the big point. Our problem isn’t revenue. It’s spending too much!
Whether you like it or not we are in a giant financial mess. You can whine all you want but that is not going to change it. Now maybe I was a bit too harsh regarding your criticism of the plan. I’m just sick of the mindless responses in response to a serious plan from the candidates. If the biggest pain you would have to feel is a tax on descrtionary spending to get this county from the brink of total collapse, how painful can it be.
You might consider the alternative. Your favorits store unavailable for you retail dollar either due to riot of empty shelves. Then you can sit in your living room and count your money with nothing to eat.
Rand Paul had it right. Nobody understand the magnitude of the problem. The Dems want to do nothing and the GOP wants to do next to nothing.
If for no other reason, I’ll go with Cain on the basis that he has the courage to take a serious look at the problem and off a plan.
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