- How'd you come up with that pen name?
Is it a reference to "Mercury" or to a motorcycle fairing?
Posted on 10/26/2011 8:31:22 PM PDT by hulltq1
Post of the day.
Misinformed..
Poverty level will not be taxed... and for the rest of the uninformed on this board you should really try to understand how the current tax system works before you tear down this plan.. In case you were never informed the current system is a massive Progressive job killing government crony empowering system that steals your rights away and empowers your overseers in D.C. there is zero transparency in the current system.
With the amount of hidden taxation and duplicate taxes you pay roughly 60 cent of every dollar in tax.... Herman Cain’s plan cuts that 60 percent effective tax in half and returns the control and power back to the people.
I’m disabled. I love Cain’s plan.
I hope the opening poster actually talks to some of us rather than assuming he speaks for us. *newsflash, he doesn’t*.
Avoid buying anything that you don’t need. Become more self-sufficient each month, and learn to make some of the things that you need. Starve the bipartisan beast, until it stops pushing stealth socialists for nomination.
its too late. we are all doomed.
Buy used food. No tax.LOL! That does raise a question: How will 999 enforcers (the IRS?) determine what's new and what's used?
Hey, that sounds like what the current occupier of the white house does.
Fresh steer manure is "used food"; composted steer manure is "new fertilizer".
Hope that helps clear up any onfusion.
With no payroll taxes, 999 will kill SS as it is presently known.
How will people currently on SS be exempted from the 9% sales tax? Have to show proof at point of sales? Keep all purchase records and show proof of same to be reimbursed later?
999 if passed will become a bureaucratic nightmare to make it even remotely work.
Pure nonsense, it is not going to make state and local taxes go away.
Irrelevant. State and Local taxes have nothing to do with Federal taxes...they will be there no matter what federal tax reform is chosen.
The end result is you will see prices go down, and a little tag that says “price includes 9% fed sales tax”.I've heard this asserted numerous times, but I've never heard anyone justify it. What's to prevent businesses from keeping their current prices, plus the 9% federal sales tax?
I live on Social Security Disability. My income cannot afford a 9% increase on my food budget.
It’s not only the federal sales tax of 9%. Add the state sales tax to that. In Illinois it’s 6.5-7%. Chicago is higher.
yeah, yeah...blather ..blather...exemptions can be made for food and such...give me a break.
Yeah, yeah, yeah...999 could become 10 10 10 or 12 12 12 by a stroke of the pen too.
Doesn’t matter if you are on SS or a fixed income or whatever - the price of goods and services would drop dramatically.
I have a hard time believing the tax payers will pay less then they are now. As it is right now the government cannot get enough money to stay even with the board.
>> Err... Cain’s plan specifically exempts Social Security.
Err... does it specifically exempt SS recipients from paying sales tax? ‘cause *that’s* what the OP has a problem with.
And I don’t blame them. 9-9-9 *increases* taxes for some — it has to, or it wouldn’t be revenue neutral — and old folks on fixed SS incomes *will* pay more tax! I’d suggest reading the plan, and you’ll see that it’s not skittles and unicorns for *everyone*.
Competition.
You do realize that you will take a LOT more out of social security than you’ve ever paid in, right?
You do realize that you’re benefiting from a Ponzi Scheme that we were ALL warned since the late 1970’s was unsustainable?
Were we warned?
Let’s see...
- I was taught in middle school that, SS probably wouldn’t be around long after the turn of the century.
- I was taught in high school that, if SS even existed when I hit retirement age, it wouldn’t be enough to live off of.
- I know that it was all over the news that this system was going to collapse under it’s own weight throughout the ‘80’s and ‘90’s.
- I know that in the ‘90’s there were advertisements for mutual funds and other investment opportunities all over the airwaves and they said in those ads that SS wouldn’t be enough to live off of.
- In the summer of 2009 it was all over the news that the Boomers were about to hit the system in such numbers that it would be impossible to sustain. Chart after chart was thrown up showing that if we didn’t cut SS, we couldn’t balance our budget and that our economy was going to collapse.
I want to know why, with 30 years forewarning, didn’t most of today’s retirees make provisions for their own retirements? Why did so many keep their eggs in the SS basket?
With that in mind:
1. A 9% drop in income is better than a 100% drop in income. Cain is trying to SAVE SS. He is the only candidate with a long-term plan to keep our elders and disabled from having to eat dog food.
2. You do realize that, with Cain’s plan, you will pay no income tax - NO TAX AT ALL - on your retirement? You will ONLY pay the 9% sales tax on NEW items. This is NOT going to tax your entire income by 9%.
3. Within a year, prices will drop, offsetting the 9% tax on new goods. Are you willing to take a 9% hit for just one year in order to protect your entire future and save this economy?
4. If the elders don’t accept that they’re trying to take more money than they’ve paid in, that we need a thriving economy and a larger workforce to support their demands, then this entire system is going to topple over and retirees will get NOTHING.
5. If the elders don’t accept that they’re going to have to participate in a solution that is designed to save THEIR collective butts (from a situation that most of them knowingly put themselves in) then we’re all screwed.
ALL of us are going to have to sacrifice to save the system. My husband is going to be a military retiree in a few years. I firmly believe that we’re not going to get the benefits that we were promised. I seriously doubt that we’ll ever get one dime of the SS that we’ve paid in. (The older generation is using it all right now.)
Because the writing is on the wall, hubby and I are now making provisions to take care of OURSELVES in our old age. We have a 25 year plan that will set us up for life. We are sacrificing and living WAY below our means to do it. (While paying a LOT more than our parents did to support the current lot of retirees.)
______________________
Had SS been kept where it started, as protection for widows and the disabled, we’d all be fine. The disabled would be protected. Our very old would be protected.
But able-bodied people were told that they could have a piece of the pie. Social Security died on that day.
Now many of us are trying to save the system and protect our disabled and the ill-prepared and they don’t want to let us because they might literally lose a friggin’ dime. (Of OUR money - money that they didn’t pay in.)
Just great.
Fair enough. Here it is Link. Where does it say that it specifically exempts Social Security?
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