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Posted on 10/19/2011 8:15:23 AM PDT by Brookhaven
Herman Cain eliminates the current 35% corporate income tax plus the current 15.3% payroll tax, and replaces them with a 9% corporate income tax.
I normally don’t go after candidates personally, because I think the best route is to present your ideas in a positive fashion, but Michele Bachmann went so far over the line in the Las Vegas debate that I can’t just let it pass without comment. Look at the first line of this story. You need to understand those numbers to comprehend just how disingenuous Bachmann’s comments were.
Bachmann attempted to paint the 9% corporate income tax in Cain’s 999 plan as a VAT (value added tax), because it doesn’t exempt labor and thus is in effect a 9% tax on labor. I don’t agree with her (because Cain’s plan treats capital and labor the same to level business expenses), but let’s grant her the point for the sake of this debate and say Cain’s plan includes a 9% tax on labor. Now let’s look at the current tax system:
* 35% corporate income tax
* 15.3% payroll tax (a direct tax on labor)
Michele Bachmann stood on stage making accusations about the damage a 9% tax on labor would cause; even claiming it was a VAT. Yet, she never mentioned that the current tax code contains a 15.3% direct tax on labor—a higher tax on labor that Cain’s.
I don’t mind people going after the 999 plan. The sales tax criticism in Las Vegas, for example, was perfectly legitimate in my opinion. We need to have honest, vigorous debates over tax policies, and any change as big as Cain is suggestion should be thoroughly vetted before it is implemented.
But, what Michele Bachmann did was not honest. She deliberately withheld information in an attempt to mischaracterize Cain’s plan as a VAT, and confuse people over the effects of the 999 plan vs. the current tax system. A lie by omission is still a lie. Michele Bachmann crossed the line in Las Vegas.
PS
Yes, I know the payroll tax is deductible for businesses, but that just lowers the amount they have to pay by their current income tax rate (35%), it does not eliminate their tax expense. When a company writes off that 15.3%, it still ends up being a direct cost to the company of 9.95% of their payroll amount—still more than Cain’s 9%.
The path to freedom means unshackling ouselves from the income tax that made us all slaves.
While i am entirely in favor of replacing the income tax with a national sales tax they must not exist concurrently. The income tax must be made illegal by punishment of death to anyone who attempts to enslave us again, BEFORE or at the exact same time that the federal sales tax is implemented.
To do otherwise is to invite the socialists in both parties to make all three, “progressive” and then increase rates. To say that it wont happen is to completely ignore how the F’ers who crave political power operate.
Trusting the people who have enslaved us and continue to maintain the chains of our bondage is beyond ignorance, its contemptible stupidity. So you can say you trust the people implementing it... ok... they wont always be there... then what you have done is given the socialists YET ANOTHER TUBE DIRECTLY INTO YOUR HEART TO SIPHON OFF YOUR LIFES BLOOD!
Change 9-9-9 into 9-9 and ill be right there with ya.. F man.. make it 12-12 for all i care. With the income tax outlawed i can always give myself a significant tax break by not buying anything i don’t absolutely need.
Better than that though... I will be free from those who now own the fruits of my labor. I will be free of those who will take more of what i make before i ever see it AND i will be free of those who want to give me a little more of what i make. I would be able to protest high rates of sales tax by not buying instead of having to appeal to politicians to give me a little more of what i worked for, or beg them not to take more. F that sh-t...
“Yeah, that the thing. I like parts of all the candidate plans but Romney’s”
Agree, Romney’s more of the same, focus a little hear and a little there, yet Cain’s is huge impact for 1 little tax plan.
“The 999 plan is a tough sell, but like fightingJAG said “999 is critical to preserving our freedom, not just engendering our prosperity.”
Make no mistake, Cain’s competitors will try to skew the facts. The IRS, tax accountants/lawyers, and tax preparation companies will fight so they don’t lose their jobs. Obama’s cronies won’t be too happy either.
It will be an uphill battle with the MSM on Obama’s side.
We are at a crossroads now and we must steer the country on the path to freedom.”
Herman Cain is all about freedom.
On Boortz’s website today there is a video of ‘Business leader, author, and now, Presidential front-runner, Herman Cain addressing the crowd at the Atlanta FairTax Rally, May 24, 2006.’
It’s a really awesome use of 4 minutes of anybody’s time, to watch it.
I hope Boortz leaves it up there for a while.
And here’s a link for a really amazing 999 calculator, that’s like a mini economics lesson, for the average American.
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