I think the 999 is a good way to go. First of all, the 9% sales tax will be very visible and hard to change. Second, the 9% personal income tax forces everybody to pay something. 50% of the people pay nothing, get income credits and are the most greedy and ungrateful wretches imaginable. If you want grandma slicing and frying of dog food burgers, just re-elect the Food Stamp President or Rino clones of Romney, Huntsman, Newt, etc.
Interesting posting history. Nothing but vanities.
Could be worse. At least you don’t have a blog. Points for that.
You immediately get it wrong because you forget Cain eliminates FICA which your hypothetical couple is paying on that Walmart income. The 9% flat income tax is lower than their existing FICA.
And what about a standard deduction? Has CAIN said that this will be eliminated? I doubt it!
Cain’s 666 plan opens the door to a bad formula for a government
that doesn’t eliminate any taxes, but adds a new one - a national
sales tax.
Every sad excuse for government spending will be defined in terms of,
“let’s add 1% to solve the housing crisis”, “let’s add 1/2% or
fighting poverty”, “let’s add 1% for college education”.
666 becomes 9,9,9, will become 12,12,12 - will become 15,15,15
- will become 18,18,18
... at the same time the income tax is going from 9% to 11%
to 12, 20, 35%.
Eventually, we will have three taxes that are as high or higher
than taxes today.
Good I want people who pay nothing to have to pay something.
This artical is misrepresenting the facts. This couple working at Walmart are paying nearing 16% in payroll taxes now regardless of their income. They are also paying income tax on their combined social security plus walmart income. Finally they are already paying a hidden 30% nation sales tax which is the portion of the price of a good that goes to the nation government by way of corporate income taxes.
You’re numbers are not even close to being right.
As someone point out, on a $22,000 income they are paying 15.3% in payroll taxes. $3,366.
Since their employer has been paying half of that on their behalf (a hidden tax) their take home pay will increase by $1,683. So their base pay for Cain’s plan is 23,683.
If they spend $200 a week, then their taxes under the Cain 9-9-9 plan are:
Base pay: $23683
Income taxes: $2131
Sales taxes: $936
Net: $20616
Effective tax rate: 12.95%
vs
Base Pay: $22000
Net: $20317
Effective tax rate: 15.3% (payroll tax rate)
The couple in your example pockets $299 a year more under the Cain plan, and their tax rate drops from 15.3% to 12.95%.
The Cain 9-9-9 plan is a good deal for your hypothetical couple.
These grand design things like Obamacare or the Ryan Plan or 9-9-9 are all recipes for poltical disaster at the end of the day. It doesn’t matter whether they are good or bad on paper, they usually don’t happen and are eventually like slow moving barges in the middle of a high-tech naval battle. So easy to ka-boom!
As for 9-9-9 specifically, it proposes to tear up the 70,000 page tax code that has 500 different interests ready to defend every sentence of it. It’s HOW all the sentences got in there in the first place—political payoffs. Does anyone really imagine a Congress will convene that will countermand the biggest sources of their own campaign dollars—??
In short: good, bad or indifferent, 9-9-9 will NEVER happen.
Do you now, or have you ever, worked for the IRS, H&R Block, any similar company or organization, or engaged in any occupation (e.g. tax accountant, tax attorney) that profits from our present system of income taxation?
We cannot continue with 40% or more of the population paying no income tax. Everyone needs to have some skin in the game. The only thing that really concerns me is how do we keep 9-9-9 from becoming 20-20-20?
I have to hand it to you Pauluistas; you are as good as Obama at class warfare! So, please explain to me why anyone should pay $0 income tax? That’s the problem now, isn’t it? Those poor old folks burned through their contributions to Social Security long ago and are now on the dole, the ponzi, the Louisiana Hay Ride or whatever other alias for welfare. Everybody who earns income should pay some income tax - everybody! Why should anybody get a free ride? I’m a retired Texas teacher and my wife’s a nurse. We have a modest income and I’m sick and tired of having to write a check to the IRS every year so geezers can snowbird in their Winnebagos while their children get tax exemptions for the geezers adult grandchildren who still live at home.