The 9-9-9 plan does nothing more than create a national sales tax. It does not eliminate the income tax, and we will all be paying 20-20-20 before it is done. He should be ashamed to introduce such a thing in the GOP.
The 999 plan includes a provision requiring a 2/3 vote in congress to raise taxes. Therefore your suggestion it would become a 20-20-20 is not based an the practical provisions of the plan.
So you are saying that if Cain is elected, he will be a push over and compromise to the point of 20-20-20 ..... aren’t all the candidates at risk of the same except they don’t have a plan?
Why doesn’t someone ask him, if he can’t get 9-9-9, how much would he move from it, or is this the grand compromise already and he isn’t going to move from this?
Too early to dismiss this, Cain has a lot more questions to answer, but I think you are basing your dismission of Cain on a lot of assumptions.
What was the other candidate’s economic plans? I didn’t catch it.
So, the American people will overwhelmingly vote to increase their own taxes to 20% on income and purchases? I seriously doubt that.
The justification for the rate staying low is that a rate increase would impact all and would receive much more scrutiny.
Getting a flat tax or fair tax would be the two best possible things that could happen to us. I am more flat tax than fair, but I see the benefits of either vs. the current mess. The presentation of a hybrid is not my preference, but it is the first serious proposal to get rid of the current mess since Forbes’ flat tax proposal 10 years ago.
From the article: Cain's plan to replace the tax code...
RTFA
I heard arguments in the past about a Conservative candidates economic plans being “Voodoo Economics” too. That plan ended up working out alright.
we will all be paying 20-20-20 before it is done.
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PULLLLEEEEEEZZZZZZZEEEE!!!
At least he has a plan. Not the useless focus group tested platitudes that the other candidates give. Even if you don’t like his 9-9-9 plan, there is nobody alive that really thinks it will get passed without some changes to satisfy both parties. Its such a drastic change from the “norm” that every word in the plan will be reviewed.
At least it is different, and subject to revision. All of the other candidates stated that they would lower taxes, and increase benefits...I have heard the ‘chicken in the pot’ too many times to believe it. I have no doubt that the theory will not hold up as stated, but it deserves some additive changes to make it better.
Bachman’s sound bite that if you turn 999 upside down, the devil’s hand is in it was laughable. She, Santorum and the other guy just need to drop out.
Yes he is proposing a flat income tax. One where everybody pays including the 50% that don't pay now. So nationally that nets a yield of 18% compared to the existing system.
More revenue in at less cost for those who already pay taxes. The ones that don't will bitch about it. Of course there's Huntsman's plan, whoever he is.
The 9,9,9 plan replaces ALL current taxes
It does not ADD on additional tax like has been suggested.
The advantage of the 9,9,9 plan is that if the government raises taxes... It raises taxes on all classes thus making it harder to raise taxes in general.
Actually, according to Mr. Cain, the 9-9-9 plan would be designed to go into effect AFTER the existing income tax is scrapped. So there wouldn't be TWO plans going at the same time.
He also supports a Balanced Budget Amendment. The version that went with Cut, Cap & Balance also required a 2/3 majority to raise tax rates. The point is, it can be done.
I agree. But he’s anything but ashamed. He’s shouting it from the rooftops. If he is he nominee, wait until the general electorate gets a whiff of it. Oh, and then let him explain he REALLY wants a 30% consumption tax on everything. LOL. 4 more years of Obama.
The fact is any TAX: consumption, sales, income, property... can escalate. It is we the people who need to hold the congress accountable for its unquenchable thirst to tax and spend.
What do you propose? Keep the current system in place? Business as usual?
9-9-9 becomes 20-20-20?
That’s part of the appeal of 9-9-9.
It’s simplicity lends itself to greater transparency.
Any time there’s a proposed increase (or decrease, as in Cain’s enterprise zones) it’ll be readily apparent.