Posted on 10/13/2011 9:59:12 AM PDT by SaraJohnson
If you have a family of four with an income of just under $50,000, they could end up paying more under the Cain plan. Currently, they are taxed around $3,850 in income tax. Under Cain’s plan, they would be taxed at 9 percent or pay $4,500. That’s $650 more. Although the family would save almost $4,000 in Social Security taxes, it would have to give up the child tax credit worth the same amount. Furthermore, it would pay an additional national sales tax of 9 percent on everything purchased, including groceries and clothes, which totals about $2,000. That means under the Cain plan that family could end up paying $2,725 more.
(Excerpt) Read more at abcnews.go.com ...
Look a$$hole...
Maybe you need a time-out.
You are being blind or dishonest about me. I will give you the benefit of the doubt and give you blind.
You are against Perry and for Cain so anyone who examines Cain’s prospects in the general election is in Perry’s camp.
Until they are all vetted with a mind of how they will hold up in a general election against the media’s candidate, a made up mind is a closed and losing mind. Worse many Cain supporters in their zeal for 999, have taken to repeating outright lies about Perry to “win.”
Last time I checked, lying (political propaganda) is not a conservative value and not a winning strategy given the media is not on our team.
What are your spouse and any other children she may have doing to help the MIL?
This article is an example of the vulnerability of the media. They purposely left out the 6.5% SS tax the employer pays for you. Add that in and the example turns into a $500 tax savings. There are enough alternatie outlets to shout out and expose this. There are a lot of brain dead voters who won't hear, but they were never going to vote Republican anyway. The majority of voters are awake an listening.
You posted this to me when I pointed out they all have flaws
Right. They are all meatheads to some extent or another. Romney being a rock head. I think Cain is easily defeated on 999. The economy is the central issue. Perry is less than perfect, but he does have an economic track record in one of the largest states and he does understand exactly how the feds sink state and local economies. He despises it. His economic plan could be called the tenth amendment - giving power back to the state and cutting federal spending through cutting it’s scope of work. The less details during a campaign, the better. Learn from Obama
You gave yourself away
I’m puzzled by some of the press claims about 9-9-9 since it includes sweeping generalizations and assumptions that are not part of what Cain’s outlined on his site. Is there some super secret version of 9-9-9 the press has to work from that we do not? Obviously there’s a more richly detailed version because Cain said he had it independently scored.
“That means under the Cain plan that family could end up paying $2,725 more”
They forgot to facture in a buch of stuff
That family spends $3,000.00 a year in gas, the tax rate on that gas will go down from (Fed only)15% ($450) today to 7% ($210) they saved $240.00
That family buys a new SUV, lets hope a Ford
$35,000
Say Fed Tax Ford paid to make that car is about 20% to make it and is passed on to that family in the price of the car so $35,000 is now $28,000. add new 9% sales tax and they pay $29,960.00
They Saved $5,040.00 in Taxes plus $240.00 in gas = $5,280.oo in tax saving for that family
That’s just 2 items, same thing would happen to most goods they purchased.
So Cain just cut their taxes
We’d need a whole new section of the IRS to monitor a sales tax code with that many loopholes. Imagine what liberals will add to the bi-partisan effort!
They forgot to factor in a bunch of stuff
That family spends $3,000.00 a year in gas, the tax rate on that gas will go down from (Fed only)15% ($450) today to 7% ($210) they saved $240.00
That family buys a new SUV, lets hope a Ford
$35,000
Say Fed Tax Ford paid to make that car is about 20% to make it and is passed on to that family in the price of the car so $35,000 is now $28,000. add new 9% sales tax and they pay $29,960.00
They Saved $5,040.00 in Taxes plus $240.00 in gas = $5,280.oo in tax saving for that family
That's just 2 items, same thing would happen to most goods they purchased.
So Cain just cut their taxes
What is "fair" about me paying double the sales tax I pay now, federal on top of state, and paying the feds a tax on my grocery purchases? Herman Cain is heartless.
I’d hate to try to write that law. Imagine trying to define what sorts of additives don’t qualify as a second ingredient. If bread has both whole wheat flour and oats...what then?
I lived in a state where “non-junk food” was exempt from sales tax. Companies played games to not be classified as “junk food.” It didn’t take too long before the whole thing became ridiculous.
About six others have already said this, but since people continue to bash 999 without even reading it, it deserves for about 6,000 people to reply.
Read the plan, then form an opinion or ask questions. Unlike the current Tax Code, you can read the 999 plan in about 5 minutes:
http://www.hermancain.com/999plan
Google what happened to Forbes who had a perfectly sensible flat tax plan. Had we instituted his plan, we would not be in this territory of total corruption. Nevertheless, the media fried him on very simple math: comparing the taxes paid by a millionarie at 10% versus the taxes paid by someone earning $30,000 per year.
The media ran the line that Forbes was for taxing the poor at the same rate he wants to tax the rich. No matter how much we protested and tried to teach the public how to do a precent caculation, Forbes was left in the dust in the polls.
Cain’s supporters don’t seem to want to deal with the reality of politics. I hate the constant deception. But it is reality in our Teachers’ Union education nation.
So, basically, Cain’s campaign message is that he believes in government fixes for everything. I don’t see a difference between his approach and the liberals’. It seems he is taking us far afield from the actual role of a POTUS.
You are dishonest, I was wrong. We are done. I hope you don’t succeed in saddling us with 999 in the general election.
Put that in a sound byte within the mainstream media and you win. Otherwise, you lose.
But Cain has such a charming, engaging personality. Isn't that all that matters?
Never mind his ill-informed answers on foreign policy questions and the U.S. Constitution. We just love that old Herman Cain grin.
Forbes also had the personality of a wet sock. Since the current economic climate is ripe for bold ideas, the old idea is the new (slightly repackaged via Cain).
I think Cain is a better salesman, 999 still needs to be scrutinized none the less but at least his got the tax code conversation rolling.
“and I don’t even pay payroll taxes because I am self employed, I would be totally screwed under 999.”
As a self-employed individual, you are supposed to be paying SECA (Self-Employment Contribution) towards Social Security and Medicare. Instead of FICA where the employer pays 15% and the employee 15%, with SECA you are supposed to be charged the full 30%.... so either you are paying SECA and didn’t realize they are payroll taxes or you owe A LOT in back taxes to the IRS...
as much as we can , why what you doing to help your poor relatives who have lost loved ones or who have lost limbs fighting a war which then made him not get a job which in turn has now crippled a family with money and now has lost lost a loved one?
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