Posted on 10/19/2011 2:43:07 PM PDT by SeekAndFind
Dear FReepers,
I have discovered two websites that provide that tools for you to determine how much you'll save or pay if the Herman Cain 9-9-9 Tax plan were to be implemented.
1) INCOME TAX CALCULATOR
Here's the Tax Calculator Comparing the INCOME TAX you would pay using the current tax code against the 9-9-9 plan. You must have Microsoft Excel on your computer:
CLICK HERE
2) SALES TAX CALCULATOR
Here's how much you pay for the price of goods if the NATIONAL SALES TAX were implemented ( this takes into account your state's sales tax):
CLICK HERE
The federal income tax started out at 1%. just saying.
Yes, so, by all means, let’s keep what we have now.
Under 9-9-9 my husband and I would save around $36,000 in income tax and the $278.00 item I bought earlier this week would have cost me $266.80 instead of $300.94
And EVERY unit of government can increase ANY tax whenever they want to (subject to any statutory limits that may exist). Just sayin.
We may as well just throw in the towel.
When the goal is to be revenue neutral (while cutting spending to balance the budget), some will pay more and some will pay less.
The principal advantage of 9-9-9 does not lie in who pays less or more.
The most important thing about this change is that it re-orients incentives in the economy in favor of domestic manufacturing and domestic capital formation.
The middle class is dying. Much of our manufacturing base has moved overseas, and the rest hangs on a thread.
The 9-9-9 tax imposes taxes on goods produced by foreign businesses and alleviates taxes on saving and capital formation. Finally, it is something that helps level the field for domestic manufacturing.
It is too late to rearrange the deck chairs on the Titanic. We need to something dramatic to reverse course.
The best thing about 9-9-9 is that it is NOT a “progressive” tax. No more raising taxes on someone ELSE.
“And EVERY unit of government can increase ANY tax whenever they want to (subject to any statutory limits that may exist). Just sayin.”
Exactly, Cain has yet to explain how passing a new tax magically makes all the others go away and never come back.
In the end creating a new tax will always result in paying more in taxes.
He needs to evolve it into a flat tax.
There are so many damn hidden taxes that EVERYONE pays. I would rather pay more in percentage in taxes ALONG with everyone else than to pay a lower rate that is scructured in a way that promotes class warfare.
Better to have everyone have some skin in the game. It is easier to raise a hidden tax that only businesses pay (and pass the costs to the consumer) than it is to try to hike taxes on EVERYONE.
RE: He needs to evolve it into a flat tax
His long term plan (phase 2 ) is to evolve it into the FAIR TAX.
See here:
http://www.hermancain.com/999plan
EXCERPT:
Phase 2 – The Fair Tax
Amidst a backdrop of the economic renewal created by the 9-9-9 Plan, I will begin the process of educating the American people on the benefits of continuing the next step to the Fair Tax.
•Ultimately replaces individual and corporate income taxes
•Ends the IRS as we know it and repeals the 16th Amendment
Ping for later.
.
THanks for that. I can get to the income tax one..and I can see the difference the % of new goods would affect...but the other spreadsheet is blocked (work computer). I’ll have to do some number crunching on what I actually soend on NEW goods.
The current system does nothing more than empower government. Because Half of All taxpayers have no skin in the game anyway. The Liberals understand this they know that average Americans don’t count up all the hidden taxes in their everyday purchases and the Democrats feed off of that to increase their own power. The current system will always pit the haves against the have nots and empower libearls that is why it is fundamentally unfair. Liberals have no desire to see real people advance in society they need their victim groups so that they can remain in charge of their plantation. The problem is that those us that want to escape that plantation can’t and we get get whipped when we try. Herman Cain’s plan should serve as a catalyst to start a real debate on the role of government in our lives and the corruption that is rife in the current tax code.
The best way to make certain the government doesn’t increase taxes, is to make certain everyone has to pay the same percentage. It is easy for Congress to play politics, grow government, and conduct social engineering when they can pit one group of Americans against another. It is more difficult when tax increases hurt everyone. We need to get rid of this corrupt system.
Our family would save some $22,000 a year in taxes. Add to that the SAVINGS and lower prices for goods. It would truly feel like 1999 again.
We just might be able to buy that new dining set we’ve been dreaming of. Take our first vacation in some eight years ...buy a new car. Might also be able to finally pay off our credit card debt and put something into savings for the first time in TEN years. Give to charity also. We gave that up a long time ago as well.
Nah — oh well. Best to keep to the old system.
I mean, come on — the “Po” need their free diapers.
I need to know — would the sales tax be slapped on RENT? How about utilities? How would all that work?
I doubt it could be added to rent, as that might be seen as a “used” item?
I suppose the 9% would just be figured into the monthly mortgage?
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