Posted on 10/15/2011 3:46:42 PM PDT by justsaynomore
Art Laffer (the originator of the Laffer Curve, and inspiration of Reagonomics) breaks down Herman Cain's plan
(Excerpt) Read more at video.foxnews.com ...
Anyone else finding it weird that as one side is talking about 999 the other side is talking about the “99%” (even though I know I am far from the only person in that % that finds them insane)? What is it with the number 9?
Leftoids aren’t known for their ability to think originally. They probably took it from Cain so they could pretend to be the TEA party as long as the media could pull that off. It’s a symbol thing, leftists are so Pavlovian that they now see the number 9 and think Cain and the Nazis playing on Wall Street are on the same side. They aren’t.
May I say that this is wishful thinking. A bird in the hand is worth two in the bush... and no one’s giving up the bird!
As the famous Chicago politician Paddy Bauer once said, “the only thing that comes down is rain and snow.”
Mr. Cain has time to make changes in his 9-9-9 tax plan, in particular if he wants the senior citizens’ vote.
I don’t know who to ping or what to do, but I am curious, if you do a keyword search for “999” or click on the “999” keyword on a thread, the keyword search auto-populates with “999liar” and says there are no results. Does anyone else see this, and if so, what does it mean?
Well, everything else being equal, lower corporate taxes will bring down prices - that’s not wishful thinking that’s just basic economics. Simply put, lower corporate taxes will drive down production costs which will drive down prices under a freely competitive market.
I would want a constitutional amendment to go with the 9-9-9 plan. One that establishes:
Congress shall set one single rate of taxation, that shall be applied as:
1) an individual tax rate applied to all income to all individuals, equally without deduction, credits or other tax adjustments.
2) a corporate tax rate applied to all profits earned by the corporation
3) a sales tax to be applied to all retail goods and services but shall excluded financial instruments and individual housing
A second amendment that limit’s how congress shall pass budgets would be also a step in the right direction.
1) Congress shall pass a budget each year. Should Congress fail to pass a budget, the budget and tax rates from the prior year shall be used.
2) A simple majority of both houses shall be required for any budget that is equal to or less than the prior years budget.
3) A majority of 55% of both houses shall be required for any budget that exceeds last years budget but is less than the prior budget increased by the rate of inflation
4) A majority of 60% of both houses shall be required for any budget that exceeds last years budget plus the rate of inflation
5) After a new Congress has been sworn in, no additional sending measures may be passed until such time as the annual budget shall be passed. The salaries of all representatives, senators, President, Vice-President, and cabinet members shall be held in escrow until the budget is passed into law at which time the salaries shall be released.
6) After passing a budget, additional spending measures shall require 63% of both houses and may only be undertaken after the President has declared a state of emergency or Congress has formally declared war upon another nation state.
7) In all budgets actions, should the budget not be balanced, or if the spending shall increase the total spending beyond the current budget, an additional 3% of both houses shall be required to pass the budget or action.
8) Should at any time, the Treasury not have enough funds to cover all financial obligations in a month, the Treasury shall service debts in the following order: Interest on debt, pensions and retirements, mandatory spending, discretionary spending, all other debts.
“You know a lot about electric fencing do you, that you’d seriously try and string one along a river?”
No but I know you could stop the electric where you needed to and replace it with concertina, or some other barrier.
I know I’m glad someone is at least considering something rather than sitting around coming up with excuses as to why we can’t protect our country from an invading army, and terrorists.
I’ll volunteer time to go to TX and help build the damn thing if it gets something done. If not we won’t have a country in 10 years. Then we’ll all be figuring out how to keep them out of our house rather than our country.
I don’t want to see 9-9-9 first with the promise to repeal the blah blah blah.
That’s like working with the DemocRATS and giving them a tax increase if they agree to cut spending next year. It never happens.
“What Cain should do is to CALL FIRST FOR A REPEAL OF THE 16TH AMENDMENT and wait for the ratification of the repeal before implementing any new tax code.
But if he does that then his 9-9-9 plan dies.”
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So will the Fair tax.
Dude, if you get what you originally paid in taxes back - as in rebated to you - you ultimately didn’t pay any taxes and hence the free ride...
Duh is right...
“So will the Fair tax.”
Not true. Repealing the 16th Amendment is what keeps the FAIRTAX alive according to the Sunset provision in H.R. 25.
The 9-9-9 plan dies because without the 16th Amendment the 9% Income tax and the 9% Corporate tax die leaving a 9% National Sales Tax which is insufficient until spending is brought down.
The FAIRTAX can survive without the 16th Amendment whereas unapportioned Income taxes cannot.
fine
lets just continue to enjoy the present tax system
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