Posted on 10/13/2011 6:38:03 PM PDT by 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.
Lowrie also said under the plan, business investments will increase by one-third and wages will go up by 10 percent.
“And if you fold all that growth together,” he said, “federal revenues go up by 15 percent.”
Cain’s 9-9-9 plan would scrap the current tax code and replace it with a 9 percent tax on personal income and corporations, as well as a new 9 percent sales tax.
(Excerpt) Read more at cnbc.com ...
>> That’s enough for me know 9 9 9 will work.
Lame. But maybe you should take advantage of one of Barky’s remedial English courses.
The beltway ruling class are trembling at the thought of lossing tax “carve out” favors which they use to reward donating special interest groups.
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Ding, ding ding! WINNER!
Medicaid should never be classified as an entitlement. The 9% national sales tax does not sound like a good idea to me..could it go up eventually? and how would Cain get it passed ...need 60 republicans in the senate to pass it
I don't know what Mr. Hewitt thinks about this, but if he agrees then it would also be a hugh claim. Not to mention series ... if he were to mention it at least once a week on his show.
Cool. Point me to that big pile of $$ sitting in the SS Trust Fund that was built up over the last 70 years. You mean they spent it all on general gov’t operations? BTW, Cain plans drastic free-market overhauls of both MediScare and SS.
All busnesses already are. They report all their expenses, and collect payroll taxes.
OTOH, the chance to regain personal privacy and take power from the Feds is huge. Right now every citizen has to report all financial transactions. Imagine never filling out any tax forms, never filing taxes, no fear of IRS audits, and where it's none of the government's business how much you make, how you make it, or where you spend it! I would pay more just for that. BUT NO SALES TAX WITHOUT REPEALING INCOME TAX AT THE SAME TIME!
Where has this Einstein of amateur economics been hiding and why?
Eliminating the Capital Gains Tax and you will see everyone and their mother investing in stocks, bonds, gold and property. Economic growth like you have never seen, especially in states with no income tax ie: Texas.
As long as Cain beats Romney and Perry, who really gives a shit if 9 9 9 meets your standard?
Yep. Beltway elitist supreme Karl Rove was Hannity’s first guest tonight and did his best to downplay Cain’s popularity. He and his establishment ilk are frightened out of their gourds.
The “Libs playbook” is Marx’s book. And Marx’s play on taxes is a Heavy Graduate Tax on Income...........ie WHAT WE HAVE TODAY.
Defending the current system is equal to defending Marxism.
Paul Ryan just came out with positive support for it. I think DeMint did too.
>> The overall tax revenue will be neutral
Numbers, please?
Paul Ryan just came out with positive support for it. I think DeMint did too.
Obama OKed the killing of Osama. Do you wish he hadn't? Likewise with al-Awlaki? Obama signed three free trade agreements recently. Were those bad ideas? Obama drinks beer. Is beer bad?
“Im suprised he had a advisor on that as he is a businessman and mathematician”
Im suprised he had a advisor at all as I have been told right here on FR that Cain has no organization by some very concerned Perry supporters. I mean....what possible reason would they have to be less than truthful?
;-)
>> Paul Ryan just came out with positive support for it
Sorry — I don’t have much confidence in Ryan. All talk; precious little action and zero results.
Ugh!!! I’m soooo sick of the ‘establishment’ trying to pick out candidates!!!
AAAAAAAAArrrrrrgh!
I like the idea of a national sales tax w no income taxes at all.
I'm not in favor of giving this government one more dime, much less new ways to extort more.
As my tag says, we don't have a taxing problem, we have a spending problem.
Fix the spending problem first and THEN maybe we'll work on the tax code.
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