[justsaynomore]

Laffer – 9-9-9 not a joke
by admin Posted on October 18, 2011

Arthur Laffer documents his thoughts on Herman Cain’s 9-9-9 plan. The debate was increasing frustrating tonight due to Bachmann, Romney and Perry routinely providing false and misleading analogies on Cain’s plan. Here is the math:

Current tax code: 25% income tax + 9% sales tax = 34%

9-9-9: 9% income tax + 9% federal sales tax (only on goods you choose to buy new) + 9% state sales tax = 27%

Now, the argument will be made that the poor now must pay 9% income tax under this plan. At what point should people have skin in the game? When 47% of the country pays no federal income tax and yet receive benefits beyond what this country can afford, are we supposed to seek our own financial demise?

http://theconservativethinker.com/wp/?p=1702

[org.whodat]

True, you need to copy and past that as often as possible.

[NoGrayZone]

"Now, the argument will be made that the poor now must pay 9% income tax under this plan."

They could save themselves the 9% by buying used. Funny how the "poor" can afford so much more than I.

[SueRae]

Thanks for that, I’ll have to read later (site blocked from work)