Laffer – 9-9-9 not a joke
by admin Posted on October 18, 2011
Arthur Laffer documents his thoughts on Herman Cain’s 9-9-9 plan. The debate was increasing frustrating tonight due to Bachmann, Romney and Perry routinely providing false and misleading analogies on Cain’s plan. Here is the math:
Current tax code: 25% income tax + 9% sales tax = 34%
9-9-9: 9% income tax + 9% federal sales tax (only on goods you choose to buy new) + 9% state sales tax = 27%
Now, the argument will be made that the poor now must pay 9% income tax under this plan. At what point should people have skin in the game? When 47% of the country pays no federal income tax and yet receive benefits beyond what this country can afford, are we supposed to seek our own financial demise?
http://theconservativethinker.com/wp/?p=1702
I read your post in the other thread and will repeat MY argument against theirs about the "poor" having to pay 9%.
Buy used. I do. I could have saved a bundle under 999.
that’s right.
Ebay has millions of used goods for sale which you can buy at a fraction of a price for new. Every item is rated and described for it’s condition. If the item is not exactly as described, Ebay will stand behind you to get the refund.
I have bought over 100 items on Ebay, both new and used and never had a problem, except one $2 electronic item bought from a vendor in Hong Kong.