Posted on 10/15/2011 8:23:53 PM PDT by SeekAndFind
After months of languishing on the sidelines of the GOP presidential race, Herman Cain has skyrocketed to the top of the national polls and now looks like he might actually be a real contender for the Republican nomination in 2012.
Until Cain and his "9-9-9" tax plan dominated Tuesday's presidential debate and vaulted into the national spotlight, few outside of the Tea Party know much about Cain, other than that he is black and likes pizza. That is largely because, until this week, Cain's presidential campaign was virtually non-existent.
Eschewing the fundraisers and early voting state visits typical of most campaigns, Cain and his staff have spent the last few weeks promoting his book, This Is Herman Cain! My Journey to the White House.
Released last week, the book is now No. 4 of the New York Times bestsellers list. But assuming you haven't picked it up yet, we read it so you don't have to.
The book offers some interesting insight into the candidate's background and what he plans to do if he gets elected to the Oval Office.
(Excerpt) Read more at businessinsider.com ...
Just asking: Under 9-9-9, what does a retiree pay on a cash withdrawal from his 401k or 403b? And, whatever your answer, the retiree saves nothing on payroll taxes, because he's already paid them for his whole working career. How's does such a retiree emerge from 9-9-9?
RE: I just don’t want to vote for someone who will increase my taxes.
Pretty hard for anyone to determine whether or not your taxes will go up under 9-9-9 without knowing how much you make, your mortgage, your kids, etc. ( IOW, everything the IRS demand they should know ).
How do you know your taxes will go up and not down?
I do know that Social Security income WILL NOT be taxed.
If you missed it, here's a thread that covers just about every pro and con on 9999 freepers have put there yet. (Ignore the article; just read the comments.)
Great post BB. Good info.
I know I will be flamed on this but, I heard that on a Fox panel today and I can’t remember who said it. Also, there’s a clip from msnbc news on my msn homepage with Michael Isokoff reporting about taxes being raised with the 999 plan.
I know we need a change in our tax code.
I know we need a change in our tax code.
Got proof? If so, bring it on. If not, then say you might be mistaken...
I agree with you with building refineries and drill baby drill. That’s why Perry is my first choice.
I like cornbread too!
I can't see where you would assume any such thing. For one thing, in the U.S. the corporate tax rate is a whopping 35%, the 2nd highest in the industrialized world, and one of the reasons the economy isn't booming enough to afford you constant pay raises. Cut that to 9% (a 72% reduction!) and THAT ENORMOUS TAX BURDEN IS TAKEN OUT OF THE RETAIL PRICES YOU PAY FOR STUFF (you know those business taxes are always passed along to the consumer, don't you?). If that meant that things you buy now have a base price 13% to 18% less than before, are you going to bitch about paying an extra 9% sales tax after that price reduction?
Consider your source—MSNBC. Is this a trustworthy evaluator of anything political?
On the other hand, Art Laffer (one of Reagan’s economic advisors) likes the 999 plan. Says it will boost the economy by leaving more resources in the hands of successful businesses. The 9% sales tax would be offset by reductions in prices due to lower corporate taxes. The simplicity of your 9% income tax would save you tons of time filing every year.
You are right to be suspicious. When someone doesn’t do a fair comparison, you know they are trying to hide something.
Maybe there is more to life than your short term gain.
I didnt get a tax credit from the Bush-Pelosi stimulus that mostly went to the 47% that pay NO federal income taxes. I also was punished with the Obama/Pelosi ‘Making Work Pay’ tax credit for working full time which mainly went to that 47% , I am one of the 53% that has to pay those taxes. There is a target on my head,
It's called a flat tax.
to read later
I don’t think you should pay that much tax either. I think your short term, long term GAIN would be a good thing as well as mine. I don’t want my taxes raised as well as yours. There is so much waste with our taxes.
The corporate sales tax rate would plummet from 39% to 9% with some most going to lower consumer prices which would cause people to spend, especially once their paychecks are taxed at the same 9%
The economy would explode overnight and the economy might overheat.
Corporations would also have more money to put into R&D, creating future products that would give you more bang for the buck.
The 9% sales tax, which has already been implemented in many states would stay the same.
Not 100% of people would immediately benefit from the 9-9-9 plan, but everyone would eventually benefit from the 9-9-9 plan.
I also imagine that those over 65 would be exempt from paying the 9% sales tax.
If not, they should.
Why should I (or anyone) vote for La Raza Rick?
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