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Posted on 10/22/2011 8:54:24 PM PDT by casinva
The nightmare on Main Street -- the federal income tax code -- is ending, which is fantastic news for our beleaguered economy. Dramatically simplifying this monstrosity would unleash a powerful wave of prosperity and job creation.
Thankfully in 2012 we will get a mandate to make this happen. Presidential contender Herman Cain vaulted to the head of the Republican pack when he proposed his 9-9-9 plan -- a flat 9% income tax, corporate tax and national sales tax. Even better, Texas Gov. Rick Perry will, in a few days, unveil his version of a flat tax, a concept that I have long advocated.
snip
The flat tax would junk the current code and replace it with a single rate that would apply to all incomes after generous deductions. There would be no tax on your savings and there would be no death tax -- you should be allowed to leave the world unmolested by the IRS. The business profit tax would also be slashed -- all those poisonous loopholes would be eliminated. You could do your tax return on a single sheet of paper. Under the plan I introduced in the 1990s, for instance, a family of four would have paid no federal income tax on their first $36,000 of income and only 17 cents on the dollar above that level.
The flat tax would stimulate risk taking and productivity. Combined with a stable dollar, it would usher in a great economic boom.
The Cain plan would rid us of not only the federal income tax, but also the Social Security and Medicare payroll taxes.
Both plans would end crony capitalism and reduce political corruption: Half of the lobbying in Washington revolves around the tax code as special interests vie for special tax breaks.
More at link.
(Excerpt) Read more at nypost.com ...
Topping the list of bold tax talk are Herman Cain's 999 / 909 plan with opportunity zones for job growth (Herman Cain, Rich Lowrie) and Rick Perry's flat tax reform along with Perry's energy independence job and growth plan (Rick Perry, Steve Forbes).
Both are game changers for our country.
Steve Forbes asks the question: Can such a big change come to pass?
Read here, and see for yourself.
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And Americans need someone who is not a whore for the lobbyists as is the Rino Bros Perry and Romney...Either one will make sure we stay the United States of Lobbyists.
Even better, Texas Gov. Rick Perry will, in a few days, unveil his version of a flat tax, a concept that I have long advocated.
The flat tax would junk the current code and replace it with a single rate that would apply to all incomes after generous deductions. There would be no tax on your savings and there would be no death tax -- you should be allowed to leave the world unmolested by the IRS. The business profit tax would also be slashed -- all those poisonous loopholes would be eliminated. You could do your tax return on a single sheet of paper. Under the plan I introduced in the 1990s, for instance, a family of four would have paid no federal income tax on their first $36,000 of income and only 17 cents on the dollar above that level.
From the thread's link (referenced above)
Both plans would end crony capitalism and reduce political corruption: Half of the lobbying in Washington revolves around the tax code as special interests vie for special tax breaks.
Also known as "opportunity zones for politicians." Maybe I'm just a cynical libertarian, but I don't trust power-mad politicians to decide what an "opportunity zone" is and how much money they can then steal from citizens across the nation in violation of the Constitution.
The whole country should be an opportunity zone, not just politically picked zones!
The progressive income tax is inherently Tyrannical. Most Freepers are well aware of the various characteristics which serve to effectively enslave the American middle class.
I support consumption based taxes rather than income-based ones. They are intrinsically more fair, because those who consume the most end up paying the most tax. Consumption taxes are also much easier to administer, and are not so blatantly invasive of Fourth Amendment rights, unlike the income tax.
For these reasons, I don't like the flat tax because it is still an income tax.
The Democrats can be effectively portrayed as the party that wants to maintain the status quo with regard to government revenue generation, and also the party that wants to keep on with the endless, runaway federal spending.
With a good, small government candidate that will back up his/her bold words with equally bold action, the Democratic party could be electorally annihilated next year. Vigorous tax reform; spending cuts which can help put an end to crony capitalism; putting an end to socialized medicine; these are the things which can help conservatives build a more perfect Union and win across the board in 2012.
Then, We The People can finish cleaning up the corrupt Republican Party as well. First things first, though...
I am just beside myself with excitement that in my lifetime we very well may see major tax reform, including junking the 71,000 page tax code entirely!
We have two great plans on the table (of course, all plans have to be tweaked).
Now we just have to decide who would make the best “ball carrier” to get this reform into the end zone.
And of course our ball carrier needs to be an all-around excellent player, fit to POTUS on every point.
There’s no reason whoever the GOP nominee is, he (or, much more remotely, she) could propose or tweak a tax plan to be a flat tax or 999 or a hybrid.
It’s not a plan that will be running against Obama in November, it’s a man — and hopefully a man with a plan! But it will be a man who will have to be able to win because of everything he would bring to the presidency.
Man alive, from your lips to God’s ears!!
Exactly.
Sounds to me as though Steve Forbes could get on the Cain train if Perry stalls out and Cain is the train that’s leaving the station.
There’s no reason why a President Cain couldn’t take advice from Steve Forbes or have him work together with Laffer and Moore on a final plan to present to Congress.
That said, with two good plans on the table, the question is what else do Cain and Perry have going for them in terms of being President?
Thank you!!
Without the 16th, the rat party will fold, for it cannot exist without class enemies which they create through the tax code. Ridding our nation of the income tax would be a twofer, a possible restoration of liberty and a stake through the heart of the evil political party that seeks to enslave us.
That's the big question. Could a rational tax system be passed? And how long would it stand, when Congress is full of people who want a confusing, inefficient, and exception-ridden tax code that they can use to manipulate the population for the benefit of the legislators?
Thanks shield.
“There’s no reason whoever the GOP nominee is, he (or, much more remotely, she) could propose or tweak a tax plan to be a flat tax or 999 or a hybrid.
It’s not a plan that will be running against Obama in November, it’s a man — and hopefully a man with a plan! But it will be a man who will have to be able to win because of everything he would bring to the presidency.”
Well, for starters, Herman Cain didn’t call me heartless for wanting a secure border.
How much money do you think Perry will have to raise to make conservatives forget that?
A lot of independents and dems are fed up with professional politicians, and will cross over to vote for Herman in the general election.
“This is how the TEA party and the GOP can engineer a huge landslide come next November: by making the bold proposals necessary to completely eliminate the current system of income taxation.
The progressive income tax is inherently Tyrannical. Most Freepers are well aware of the various characteristics which serve to effectively enslave the American middle class.
I support consumption based taxes rather than income-based ones. They are intrinsically more fair, because those who consume the most end up paying the most tax. Consumption taxes are also much easier to administer, and are not so blatantly invasive of Fourth Amendment rights, unlike the income tax.
For these reasons, I don’t like the flat tax because it is still an income tax.”
Our founders gave us liberty, the politicians stole it with the 16th amendment.
Won’t it be wonderful to see it repealed in our lifetimes?
I am completely confident that Herman Cain will be able to get it done.
If you have any doubts, watch this:
(the Phoenix speech, 10/17/11)
http://www.youtube.com/watch?v=T1-RQ4EV8TU
You made my point.
Even if Perry’s tax plan has some things to recommend it, that doesn’t mean he has to be one to take that plan to the White House if he’s not otherwise the man for the job.
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