Posted on 10/13/2011 5:19:07 AM PDT by Cincinatus' Wife
Spending WILL BE LOWERED. Not a question. The question is will it be a “managed deceleration” or a CRASH.
http://www.hermancain.com/999plan
Read the plan off his website, not the spin he is adding now that changes daily based on who he is talking to.
Income tax is immoral - period
Exactly. I am convinced that I would personally pay less taxes with 9-9-9.
Here is what he says on his website:
Phase 1 - 9-9-9 Current circumstances call for bolder action. The Phase 1 Enhanced Plan incorporates the features of Phase One and gets us a step closer to Phase two. I call on the Super Committee to pass the Phase 1 Enhanced Plan along with their spending cut package.
The Phase 1 Enhanced Plan unites Flat Tax supporters with Fair tax supporters.
Achieves the broadest possible tax base along with the lowest possible rate of 9%.
It ends the Payroll Tax completely – a permanent holiday!
Zero capital gains tax
Ends the Death Tax.
Eliminates double taxation of dividends
Business Flat Tax – 9%
Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders.
Empowerment Zones will offer additional deductions for payroll employed in the zone.
Individual Flat Tax – 9%.
Gross income less charitable deductions.
Empowerment Zones will offer additional deductions for those living and/or working in the zone.
National Sales Tax – 9%. This gets the Fair Tax off the sidelines and into the game.
(will have to do more reading and discuss with hubby)
How about that tax from the Spanish-American war?
I can see great resistance in his future.
Have a look at Cain’s plan in his words.
http://www.hermancain.com/999plan
You will pay 9% income tax, but charitable contributions are deductible.
That means if you are paying 9% or more to your church and missions and other ministries, and have receipts for it, you will not be paying any income tax.
first, this article has almost NOTHING to do with Cain.
he is not an AGW greenie (like Romney), and certainly doesn’t support a Carbon tax !
most of this, is about the American Spectator’s idiot,
(who around here, actually uses A.S. as a source???
i don’t understand why this was even posted...
Even when i criticise Perry’s lack of a plan,
i don’t run to quote liberal nuts for support.)
an idiot who wants to fundamentally CHANGE Cain’s plan,
replacing 1/3 of it, with a envirowhacko carbon tax.
(to fight global warming, when the world is getting colder,
and even if it wasn’t, CO2 doesn’t cause warming...)
and all the liberals and Paulbots, crying that the sales tax would hurt old retired people, conveniently fail to mention, that by reducing the business tax by over 30%, the TOTAL tax on goods, would effectively be 18, instead of the current 40%.
so net prices, would go DOWN by 22% on almost everything for Seniors. (and for the rest of us!)
http://www.freerepublic.com/focus/f-news/2791787/posts
Cain Economic Advisor Rich Lowrie Explains Sales Tax via Twitter
“This is in response to the Bloomberg idiot moderators and everyone else who insists that the 9% sales tax will raise prices.”
= = =
now i agree with everyone who says this opens the doors, for future increases.
and actually, i don’t like 9-9-9 either as a final plan.
...but, it isn’t. It is only the beginning, of the plan to eliminate the IRS, and reduce our tax burden:
http://www.freerepublic.com/focus/f-news/2791979/posts
Phase 2 of Cain’s 999 plan: The FairTax!
HermanCain.com ^ | unknown | Herman Cain
Posted on Wednesday, October 12, 2011 11:34:49 PM 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.
spot on, I admire Cains optomism, but once his 999 plan was shelved by congress, what’s his plan B?
If he did my some miracle manage to get 999 passed, it would hurt people like me the most. I am self employed and thus currently pay no social security or payroll taxes of any kind. I also have most of my money tied up in real estate which I currently get to depreciate and also deduct the interest portion of my payments from my taxes. Also, as a small business owner I have must purchase large amounts of supplies needed to run my business.
999 would destroy my business, destroy my personal finances, and destroy what’s left of the home market and sink most small business owners.
Frankly 999 would be even worse than Obama which on the grand scale is mostly just more of the same.
OK, I stopped reading at carbon tax.
But I don’t like the 9,9,9 plan because the next time the dems are incontrol, it will be the 50,50,50 plan.
My semi-monthly paycheck would be $270 higher. The sales tax would not eat that up as I buy very little. Granted, I wouldn’t be getting that $2,000 refund check every February, but I’d rather have the extra $540 per month. in cash to either put away or expand my family (almost enough to put another kid in daycare).
I have long been an advocate of the Fair Tax. I still support it. I despise income taxes, and I am not alone. The Founders did as well. That’s why it took a constitutional amendment to implement an income tax.
I believe in repealing the income tax. I will support any lawful, sane American who wants to repeal the income tax. It is such a tool for manipulation of social and economic outcomes, and such a tool for attacking freedoms, and such a tool for creating class conflict, that I can only agree with the Founders. An income tax has such a potential for true evil that it never should be considered by anyone at all.
A sales tax, on the other hand, can also be manipulated. Tax exemption cards and numbers can be handed out, and constituencies can be rewarded by use of exemptions. What’s much harder, though, is finely tuning these exemptions. Application must be made for them individually, approval must be approved and granted, and finally, the approval must be forwarded to the beneficiary.
What a rational sales tax does, though, is to establish a rational level of taxation. It is easily seen and easily applied and easily collected. It also has a broader tax base that ethically includes all Americans and exempts no one. This is everyone’s nation, and everyone should have to participate in funding it as well as benefiting from it.
What is the rational step to achieve a national sales tax? Adherents to the old system will NOT give up their income made on servicing that old cumbersome system.
It is first the implementation of a flat tax with a target of gradually removing deductions and loopholes to zero.
During this period, a drive for a constitutional amendment must be initiated that will simultaneously (1) repeal the 16th amendment income tax, (2) prohibit any legislative income tax, and (3) institute a national sales tax that is limited to raising no more than X% of the gross national product.
Once enacted, the old is gone and the new has come.
If there is one commodity that could bear the entire sales tax by itself it might be gasoline/diesel. There are a limited number of fuel stations, there is a complex production process, and there is a need for fuel. All these would make it easy to implement and collect.
It would also have to raise some 2 trillion dollars a year.
Using the follow assumptions and numbers:
An american household uses approximately 1200 gallons a year. There are approximately 100,000,000 households. That equals about 120 billion gallons used each year in fuel use.
We need to raise 2. trillion dollars a year to fund the government. That’s about $17 a gallon for fuel on top of the current $4 a gallon. All of your ONLY your FEDERAL taxes would be 21 dollars a gallon at the pump.
$400 for a fill-up.
I’m sure that wouldn’t change driving habits. Tell the Amish to start a buggy factory now.
I am reading it. I don’t see where it says 20%.
I’ll do more reading later and have a deep discussion with hubby about it. May even ask Allen West his opinion on it.
All I know is unless I have an major revelation why this is a bad idea, I want someone who knows how to run a business to run my country. I’m tired of lawyers screwing it up.
No, he is strictly dealing with Federal taxes.
The point the author misses is that the taxes are already embedded in the price of the product. When you buy a car, the price includes all of the taxes being paid by the people that produced the car. If you move those taxes to the point of sale, the list price of the car goes down add on the sales tax, and the price out the door hasn’t really changed.
No gimmick
Brilliant gambit
The point is to contrl the board wit discussion of new direction
The outcome will be different but the present tax system will be gone
The other opinion I’d like to bring to the discussion is the following.. As businessman Herman Cain surges atop state and national polls and becomes a top-tier presidential contender, his signature “9-9-9″ plan, which calls for a nine percent tax on income, a nine percent national sales tax, and a nine percent corporate income tax, has come under scrutiny from the right and the left. Famed supply-side economist Art Laffer told HUMAN EVENTS that Cain’s “9-9-9″ plan was a pro-growth plan that would create the proper conditions for America’s economy to grow and thrive again. “Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy,” Laffer told HUMAN EVENTS in a statement. “The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates.”
Ok, I read the whole thing. Here’s my response.
I think the plan is GREAT and I really like it. And I also think that the only way it could be implemented is if either he became a dictator or our country collapsed and the Phoenix that rises from the ashes uses Cain’s tax. And there is one reason for this:
This country has an ARMY of accountants, attourneys, tax specialists and support personnel in departments in large (and small) companies, in private offices (H&R Block, etc.) and intertwined throughout our economy and culture. Our tax system is an INDUSTRY of highly trained and paid individuals. And it is a LARGE, GROWTH industry. His plan would put the gross majority of them out of work. Considering that a significant portion of this group is attorneys, you can forget about it - Unless the country collapses or Cain becomes a dictator. I don’t expect the latter. The former is only a matter of time - a relatively short time.
So why not drop one of the 9s and make it the 99 Plan?
I wasn't going to bother to read the whole thing till I read your comment. Yikes!
A carbon tax might be "revenue-neutral" from the government's standpoint, but it would be devastating for the economy. A tax on carbon emissions would instantly cause the write-down of trillions of dollars of industrial capital in the United States.
Production would be reduced and, in some cases, moved out of the country. Layoffs would ensue.
The supposed return of the proceeds to consumers wouldn't matter much if there weren't anything to buy. Dumb. Dumb. Dumb.
Watch Australia to see how a revenue-neutral carbon tax plays out. They just passed one. Of course, the government may fall because of it before it's implemented.
Agree and also the people who would get hosed the worst are young families with kids; they are up and coming—their kids need homes, furniture, food, shoes, cars, clothes, school supplies, etc.
Young families are at their peak for consumer item demand.
Cain says 9-9-9/Fair Tax would end the embedded taxes in all consumer products but does any one really believe that manufacturers would lower their prices because they paid less in materials taxes on the way to the store shelf???
The costs would come back in distribution-—fuel tax to get the goods to the store shelves.
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