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Cain Economic Advisor: 9-9-9 Plan to Add $2 Trillion to GDP
CNBC ^ | 10.13.11 | Michelle Fox

Posted on 10/13/2011 6:38:03 PM PDT by casablanca

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It will certainly spur job creation like a wildfire.
1 posted on 10/13/2011 6:38:10 PM PDT by casablanca
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To: casablanca

Im suprised he had a advisor on that as he is a businessman and mathematician


2 posted on 10/13/2011 6:39:50 PM PDT by mriguy67
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To: mriguy67

With a Master’s in Computer Science.


3 posted on 10/13/2011 6:41:21 PM PDT by casablanca
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To: casablanca

>> Republican presidential hopeful Herman Cain’s 9-9-9 plan will add $2 trillion to U.S. GDP, as well as create 6 million jobs, his economic advisor Rich Lowrie told Larry Kudlow Thursday.

I’d like to see the math worked out, please.


4 posted on 10/13/2011 6:43:45 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: casablanca
hmm...adding a new National Sales Tax that's right out of the libs playbook doesn't sound like a great idea to me.

Cain is my man but I'm pretty sure this one has zero chance.

(But, I like the numbers, and It's catchy)

5 posted on 10/13/2011 6:47:44 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: casablanca

Yay taxes


6 posted on 10/13/2011 6:47:55 PM PDT by Flavius (What hopes for victory, Gaius Crastinus? What grounds for encouragement ?)
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To: casablanca

Cain needs to scrap the national sales tax part of his plan.


7 posted on 10/13/2011 6:48:16 PM PDT by FreeReign
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To: Nervous Tick

Me too, but even if it’s only 1 trillion GDP and 2 or 3 lousy million jobs, I’ll take it!

Obama’s plans all have negative numbers in them!


8 posted on 10/13/2011 6:49:32 PM PDT by bigbob
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To: Flavius

The overall tax revenue will be neutral, until the economy blasts off. Then the tax receipts will flow like water.


9 posted on 10/13/2011 6:50:14 PM PDT by casablanca
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To: Nervous Tick

Obama did the math and he said it will not work.

That’s enough for me know 9 9 9 will work.


10 posted on 10/13/2011 6:50:49 PM PDT by factmart
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To: casablanca

The beltway ruling class are trembling at the thought of lossing tax “carve out” favors which they use to reward donating special interest groups.


11 posted on 10/13/2011 6:50:49 PM PDT by swamprebel (Where liberty dwells, there is my country.)
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To: casablanca
It will certainly spur job creation like a wildfire.

Then why does it need "economic development zones"? And why should government give tax advantages to some businesses over others?

12 posted on 10/13/2011 6:50:57 PM PDT by Hugin ("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
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To: casablanca

National sales tax is not a good idea at all. It makes all businesses and all members of transactions tax collectors for the fedguv. Having owned a business for most of my adult life I can tell you that state sales tax audits are every bit as onerous as IRS audits anf federal sales tax auditors will be able to reach unimpeded into intrastate commerce at their whim including every transaction between any two citizens. Careful what you wish for.

Secondly Herman turns social security and medicare into full fledged entitlement, read welfare., programs by funding same with 999 general revenues. Under 999 nothing will distinguish Medicare from Medicaid since both will be funded from general revenues.

Is this really where conservatives want to go?

I like Cains boldness but I think the details and unintended consequences are undesirable. Like Paul Ryan I think the best route is the simplest, most efficient least intrusive tax and that would be a flat tax without the thousands of pages of bs.


13 posted on 10/13/2011 6:51:59 PM PDT by jwalsh07 (t)
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To: FreeReign; evad

Cain needs to scrap the national sales tax part of his plan.

***

A national sales tax turns ...

1) illegal aliens
2) welfare recipients
3) Section 8 people with BMWs
4) people who pay zero income tax

... into taxPAYERS. The national income tax will likewise turn millions of other Americans into taxPAYERS.

Everybody has skin in the game. No more mobs clamoring for goodies, or tax increases on the rich.


14 posted on 10/13/2011 6:51:59 PM PDT by ROTB (Christian sin breeds enemies for the USA. If you're a Christian, stop sinning, and spread the Word..)
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To: casablanca

How will 6 million jobs be created? That’s a huge claim.


15 posted on 10/13/2011 6:52:28 PM PDT by tirednvirginia
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To: FreeReign

Absolutely not. That is the only way to get rid of the job killing taxes and to lower the corp. tax to the 9% which is what will drive the economy.


16 posted on 10/13/2011 6:52:28 PM PDT by casablanca
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To: Flavius

Yay a FAIR tax system that EVERYONE pays and the government no longer controls businesses and people via loopholes.

Yay to resetting the standard to less than 10% income tax—rewarding people for working hard.


17 posted on 10/13/2011 6:53:10 PM PDT by for-q-clinton (If at first you don't succeed keep on sucking until you do succeed)
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To: evad

Of course it has zero chance. I don’t think the legislature will let go of it’s “social engineering” using the tax code. But it is a good starting conversation. This is “out of the box” and original. Question though - a 9% sales tax and we get rid of Social Security tax? As a self-employed person I’m paying over 13% now! And if corporate tax goes from 25% or more to just 9%, won’t the cost of goods go down as well? Just wondering.


18 posted on 10/13/2011 6:53:35 PM PDT by 68stanger (If you are interested in time travel, meet me last Thursday)
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To: evad
"a new National Sales Tax that's right out of the libs playbook"

The idea of a national sales tax is not necessarily a liberal idea. In fact, most liberals consider sales taxes to be regressive as in requires a larger proportion of ones earnings to pay sales taxes the lower your wages.

Where did you get the idea that a national sales tax is a liberal idea? And where do the liberals keep their "playbook"? They seem to be just a befuddled, confused, and at cross-purposes as the conservatives these days.

19 posted on 10/13/2011 6:55:00 PM PDT by who_would_fardels_bear
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To: Hugin

two separate topics.


20 posted on 10/13/2011 6:55:00 PM PDT by casablanca
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