Posted on 10/18/2011 3:59:44 PM PDT by mdittmar
The first detailed analysis of Republican presidential candidate Herman Cain's 9-9-9 tax plan found that it would cut taxes for Americans making $200,000 or more a year and raise taxes for those making less than $200,000 a year.
The analysis was released today by the independent Tax Policy Center, a joint venture by the Brookings Institution and the Urban Institute.
Cain's 9-9-9 plan, which would institute a flat 9 percent business, individual and national sales tax, has been credited for catapulting the former Godfather's Pizza CEO to the top of the Republican race.
The Tax Policy Center found that if the plan were instituted, those making more than $1 million would receive a $455,000 (15 percent) tax break, while those making $20,000 to $30,000 would see a $3,800 (15 percent) tax increase.
Derek Thompson of The Atlantic put together a graph with the information from the Tax Policy Center. It shows the percentage change on effective tax rate by annual income:
In fact, ignoring history is pretty much the hallmark of Far Leftwingtard thinking.
NPR. The mouthpiece of the Regime and Global Communism.
These maggots love to lie.
If you die the state will collect an inheritance tax.
Some of you guys are totally mind numbed if you think states don't collect taxes.
Millionaires cannot escape the 9% sales tax no matter how hard they try.
999 works for me.
Your attitude is prettymuch consistent with Obama's ObamaKKKare idea that medical supplies and instruments should be subject to a special tax over and above whatever else they were taxed for.
There is an oder about you.
We’ll see. Look at the Cain plan. It tells you exactly how he plans to implement the 9-9-9 plan. He wants the supercommittee to “pass” the plan, when they do their deficit reduction.
The supercommittee isn’t authorized to do this 9-9-9 plan, because it is revenue neutral. So he is asking them to do something outside their scope. When the debt ceiling was passed, conservatives were upset about this supercommittee, because of the fear it would tack on things having nothing to do with deficit reduction, and the congress would have to vote on it.
Because the supercommittee recommendation cannot be amended, and it is not debated in committee. It is an up-or-down vote, and a down vote means heavy cuts to military spending.
So Cain’s plan is to have the supercommittee “pass” 9-9-9, and congress vote up or down without amendment, and have Obama sign it.
Still think it is a serious plan? Then contemplate THIS — the supercommittee has to finish their work by thanksgiving. That’s a bit more than a month. Their schedule has all proposals due next week, so they can put them together.
If Cain wants them to pass 9-9-9, he has to submit a full legislative proposal to the supercommittee — unless he is expecting the ocmmittee to write his bill for him.
So, has he written the legislative bill yet? I haven’t seen it. Has he submitted it yet? I haven’t heard of it.
If Cain doesn’t submit a legislative version of 9-9-9 to the supercommittee, and then lobby hard to get them to consider it, he will have failed to do what his plan calls for.
I agree that there should be another alternative to the progressive income tax. That is why I support the fair tax so everyone except the poorest have skin in the Federal tax game. Where I disagree is if we have a progressive income tax only the top 2% should pay federal income tax. What got us into this spending spiral is that there are enough folks close to 50% who pay no Federal income tax and have no compunction about lobbying for Federal entitlements that they do not have to pay for. These folks are the Democrat wheelhouse.As long as we have a Federal income tax, we need to broaden the tax base so these 50% pay some amount of Federal tax so they understand there is a consequence for their demands for “stuff”.
Illegals were getting ADVANCED EITC. Advanced EITC was eliminated because of that. End of story.
This all changes when we kick the Democrats out of government. Then we don’t need a Super Committee.
The poor used to make a pittance and live in falling down houses with holes in the walls. Today things have improved.
You may think poor people vote for Democrats because they imagine they give them stuff but the reality is the Democrats steal a lot of stuff and their old story about being the saviours of the poor has a lot of holes in it that people can see through.
Now that you are a Republican you have to view this nation as an opportunity to be dealt with in a responsible fashion. Kicking people in the gutter and handing all the bucks over to a few warlords is not part of that deal. At the same time letting your friends steal isn't part of it either.
I have seen the phrase “eliminate all the hidden taxes” many times, but no listing of what those “hidden taxes” are. Do you have a list or a link to it?
I was just responding to your statement where you said “What is wrong today is that ONLY HALF the people escape the federal income tax when 98% should rightly escape it.”.
So forget history - do you believe going forward that only 2% should be taxed and not the other 98%? If you can’t give a yes or no answer to that question then there is nothing else I wish to discuss with you.
Thank you. I remember him explaining that, just a lot to take in at once.
The fact that it failed is the reason to RESCIND the 16th amendment ~ END OF STORY.
This has nothing to do with what the correct rate of taxes ought to be or whether or not you should tax babies coming down the birth canal (which I am sure some on this thread intend).
It is whether or not the income tax failed or succeeded in all that was promised for it.
Someday you will learn how to debate well and will learn to listen to what the other guy is saying. Then you will become dangerous.
It's HUGE!
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