Posted on 10/19/2011 1:28:14 PM PDT by sklar
One of the key economists who helped presidential candidate Herman Cain draft his 9-9-9 tax plan is backing away from the most controversial component of it, warning that the criticism Cain endured at Tuesday night's Republican presidential debate shows his proposed 9 percent national sales tax might have to go.
Read more: http://www.foxnews.com/politics/2011/10/19/adviser-backs-away-from-cains-sales-tax-plan-as-candidate-endures-barrage/?intcmp=related#ixzz1bGFsELKO
(Excerpt) Read more at foxnews.com ...
He still thinks it’s a great idea, he’s just not sure it can be accomplished politically.
Old news. He stated he was surprised by the resistance to the sales tax. Offered up a payroll tax as alternative. Still thinks 8% sales tax would be like “rocket fuel” to the economy.
Old news. He stated he was surprised by the resistance to the sales tax. Offered up a payroll tax as alternative. Still thinks 9% sales tax would be like “rocket fuel” to the economy.
aready posted
The 9-9-9 plan is not simple enough for today’s sound bite world.
Flat income tax, say 10%.. EVERYONE pays it.
deduction of 10,000 for head of household, 5000 for each dependent.
Nothing else. No other deductions. No cap gains, no corp tax, no national sales tax.
Just think, the 1040 would be.
How much do you make? 50,000
deduct 10,000 for yourself 40,000
Dependents? (3 in my case) 25,000
Multiply by .10 2500.00
Send check to “department of the treasury”
Simple and easy. fits in a 30 second bite.
Also in this new tax plan I would require a super majority in BOTH houses to pass a increase in the rate along with requiring a presidential signature to raise it. This bill would also limit government spending to actual tax collections. No more spending on the visa card.
This will NEVER happen however. Washington won’t be able to social engineer with it. And tax lawyers would be put out of business.
Nice side effect would be those god awful tax master ads would stop on the radio.
I searched before posting and found nothing. Could you show me the link please? Thanks.
Could you show us where Cain says (or his website states) that those deductions are part of 9-9-9? Thanks!
Too bad the media didn’t scrutinize “hope and change” with rubber gloves and a flashlight like they’re doing to 9/9/9.
Cain’s Stimulating 9-9-9- Plan (Laffer)
http://online.wsj.com/article/SB10001424052970204346104576637310315367804.html?mod=WSJ_Opinion_LEADTop
Why I Support Herman Cain For President (Charles Kadlec joins Cain’s economic team)
http://www.freerepublic.com/focus/f-news/2795074/posts
Reagan Economist Breaks Down 999 Plan
http://video.foxnews.com/v/1217420754001/reagan-economist-breaks-down-999-planReagan
Backing for Cain’s plan also came from Kevin Hassett, senior fellow at the American Enterprise Institute also praised the Cain’s proposal for moving towards a flat tax. “If someone’s going to attack the 9-9-9 plan, I would say they should be careful because you are talking about the Republican holy grail,” he told the Associated Press.
http://www.newsmax.com/InsideCover/Cain-999-tax-plan/2011/10/14/id/414487
Rich Lowrie Discusses Herman Cain’s 9-9-9 Plan
http://www.youtube.com/watch?v=9iKkDcDmf7I
Paul Ryan Likes Cain’s Plan
http://www.humanevents.com/article.php?id=46850
Dick Morris Defends 999
http://www.youtube.com/watch?v=RuikrVmN6Yo&feature=feedu
How is Herman Cain’s 9-9-9 Plan Good for America
https://sites.google.com/site/giveemcain/home
Club for Growth defends Herman Cain, 9-9-9 plan
Club for Growth President Chris Chocola called the 9-9-9 “an outline for a more prosperous and globally competitive America,” saying it is “both pro-growth and a good starting point on the way to a flat or fair tax.
http://www.politico.com/news/stories/1011/65967.html#ixzz1alhFr6NM
Can Herman Cain’s Plan work?
http://axdwhiteman.info/index.php?option=com_content&view=article&id=102%3Acan-herman-cains-999-plan-work
Why We Need Herman Cain’s plan:
http://www.nerds4cain.com/Blog/archives/759
Office of Tax Analysis for the U.S. Treasury Gary Robbins analyzed and scored his plan. Cain said the analysis shows that his plan will “initially create 6 million jobs and that it will bring the unemployment rate down initially to about half of what it is today.”
http://politics.blogs.foxnews.com/2011/09/22/fox-first-cain-reveals-his-economic-secret-kitchen-cabinet#ixzz1aaTbfWLN
What do these numbers mean for me?
http://www.nerds4cain.com/Blog/archives/723
53% of People Favor Tax Code that Treats Taxpayers Equally
http://www.rasmussenreports.com/public_content/business/taxes/october_2011/53_favor_tax_code_that_treats_all_taxpayers_equally
Embedded taxes
http://www.ipi.org/ipi%5CIPIPublications.nsf/0/3F31DF6F0D040EE986256AB700630B84/$File/PR160-HiddenTax-FINAL.pdf?OpenElement
___________
Calculators:
Income: http://raisingcain2012.wordpress.com/about/
Sales Tax: http://www.999calculator.net
Chart comparing 999 with VAT tax: https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/302179_572458911298_70702418_32155573_1088285190_n.jpg
The sad part that’s being glossed over is that any plan where the government doesn’t “harvest” the same or more cash-ola will never fly. The politicians on both sides are simply too addicted to money.
first off why should one get 10000 deduction for head of housel=hold? and where do you get the tax rate of 10%
in 2005 similar was proposed with rate of 17%
IRS is Still around and so are tax atorneys, however less of them. This does nothing to collect taxes from the underground economy.
http://www.freedomworks.org/issues/flat-
...warning that the criticism Cain endured at Tuesday night's Republican presidential debate shows his proposed 9 percent national sales tax might have to go.
Those are MY plan. Not his 9-9-9 plan.
It’s also not a set number. just a easy one for me to use to do the math in my head.
Thanks! I searched “Economist” & “9-9-9” — nothing.
They are EXAMPLE numbers.
I agree except skip the exemption stuff. Just a flat rate. If you make $100 you pay $10 if you make 10 mil you pay 1 mil.
10% is the most we should ever pay in total taxation. I say we quit trying to figure a way to fund the government we have with tax schemes. I don't care how you do it, government at all levels is just to damn big. Just say we are only going to pay 10% in taxes to the feds, the state, the county or anybody else. THEN adjust the SIZE of the government to fit.
This can't be done thru elections and policy at the national level. It will need to be done with amendments called and ratified by a constitutional convention of the states.
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