Posted on 10/13/2011 6:38:03 PM PDT by casablanca
Republican presidential hopeful Herman Cain’s 9-9-9 plan will add $2 trillion to U.S. GDP, as well as create 6 million jobs, his economic advisor Rich Lowrie told Larry Kudlow Thursday.
Lowrie also said under the plan, business investments will increase by one-third and wages will go up by 10 percent.
“And if you fold all that growth together,” he said, “federal revenues go up by 15 percent.”
Cain’s 9-9-9 plan would scrap the current tax code and replace it with a 9 percent tax on personal income and corporations, as well as a new 9 percent sales tax.
(Excerpt) Read more at cnbc.com ...
Or more speculation leading to wild gyrations in the markets having an overall negative effect on markets.
Yes, lower taxes on gains made from true investments, i.e. venture capitalists who give money to start-ups, people who purchase corporate bonds, people who purchase IPO stocks, etc.
People who merely bet that a particular stock or bond or commodity will go up or down should not be taxed less on their "earnings" than those who make it through hard work.
Walter Williams is probably correct,if government is too big and spends too much, no tax reform will make any real difference.
Why? If it will create jobs like wildfire, why have special areas, which will mostly in big cities, that pay less than businesses elsewhere, in order to create jobs. And how is that fair?
You are kidding right.
His plans are tea party dreams.
The fact the dem. Senate wont pass it is WHO’s fault???
Agreed, but that's easily fixed without adding a NEW tax especially a National tax on goods and services.
The hell it does. Saying the Brazilian Model numerous times does not integrate it into 999. As for the so called SS Trust Fund I never mentioned it and for good reason, it never existed and never will. I can only hope the same fate befalls a national sales tax.
But I have paid hundreds of thousands of FICA and Medicare dollars to the fedguv and unlike you I am not too sanguine about standing in the same line with deadbeats who have paid squat.
More tax receipts for the gubmint! Awesome!
Right now the incoming total tax revenue is roughly 2.2T. That is the number they used to reverse engineer the rates of Cain’s 3-tax system.
When even the liberal Bloomberg economists who scored it say it will “only raise” slightly over 2T , and the conservative Heritage Foundation scored it as increasing tax revenue by 1.5%, you KNOW their math was pretty spot on.
Any congress critter who fails to keep faith with the Military,WON’T keep faith with YOU!
REP CAIN WILL BE IN MEMPHIS TOMORROW
HERMAN CAIN Friday, October 14 · 11:00am - 2:00pm
Herman Cain was born in Memphis and is coming home to his roots. Please invite 10 friends to welcome the jobs creator/business growth, ‘9-9-9’ Presidential candidate to Memphis/Bartlett!
11:00 AM Central
W.J. Freeman Park Gazebo
2629 Bartlett Blvd., Bartlett, TN
It is on Stage Rd. depending which direction you are coming in, turn just before/after the RR tracks. Google Maps will give you a better look.
Wait til they start carving out exemptions and sending out prebates and other “offsets” so that the sales tax is “progressive.” And then there are the empowerment zones!
>> As long as Cain beats Romney and Perry
Yeah. “As long as”.
That’s a three-word way of saying “if”. Big “if”.
Now: let me inform you as to what will *actually* happen, due to your support of Cain.
Romney will get the GOP nomination. And Barky will beat Romney. Romney is the *only* candidate Barky can defeat, because Romney is Barky-lite.
Enjoy your four more years of Barky. By supporting someone like Cain, who hearts Romney, you are helping Barky win the election.
I’ll be around to make sure you *do* enjoy Barky’s next term(and to make sure you take your ahare of *responsibility* for it).
Has Cain figured out if Lowrie is from Ohio or Texas?
Through a growing economy. Surely you think a growing GDP with low taxes is a good thing.
Good points but passive investments always had different tax rate. The 999 plan will NEVER EVER pass since many professionals make a living on the current system.
Same here. Earlier in the day on FNC's Special Report panelist Steven Hayes explained that Cain's 9-9-9 is actually the 2nd part of a 3-part plan, with Part 3 being the elimination of the federal income tax and the IRS altogether, leaving only a national sales tax. (I have no idea what Part 1 is). That was the first I'd heard that, so I'll have to look into it more.
You live in a dream world. The bureacracy that would accompany a national sales tax would be even more onerous than the IRS as currently constituted. Not to mention the Congressional abuse in raising the sales tax on things they don’t favor, petroleum products, and lowering the sales tax on idiotic things they favor like Sancho’s windmills.
I can only assume you have never been the target of a sales tax audit by a state entity. Belive me when I say they are every bit as bad as the IRS.
Amen!
And how long before 9-9-9 becomes 10-10-10 and then 10-20-10?
Sounds like "fertilizer" to me.
Wonder if Lowrie was a Romney supporter?
Medicaid is an entitlement. Unlike Medicare where one pays in for your working life, Medicaid recipients can receive it even if they never worked a day in their life or paid in one red cent.
Romney IS Barky, no lite about it.
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