Posted on 10/13/2011 3:53:13 PM PDT by TLittlefella
Cain’s website is scant (at best) describing his 999 proposal. Pelosi said “pass the plan
and read it later” and the damn fools did exactly that. With the scant details provided by
Cain’s 999 there is little difference between those damn fools and those of us touting the
mysterious 999 plan.
Individual Flat Tax – 9%
Gross income less charitable deductions
Empowerment Zones will offer additional deductions for those living and/or working in
the zone.
Retirement income – Is that subject to the 9% tax?
Social Security Income – Is that subject to the 9% tax?
Disability Income received by returning disabled war heroes – Is that subject to the 9%
tax?
Child Support Received - Is that subject to the 9% tax?
Cain’s website does not say these incomes are exempt so are we to assume they are not?
Gross income less charitable deductions – does this mean all charities? I can see a lot of
new charities emerging. Perhaps even charities openly hostile to the American way of
life. It seems odd to me that Cain favors charitable deductions over mortgage interest
deductions. The hell with the American dream of owning a home, let’s be a nation of
renters.
Empowerment Zone deductions – there is little doubt what class of people this will favor
National Sales Tax – 9%
Cain’s website does not list a single exemption from this tax.
Will buying a new home be taxed? Oh, I forgot, we are not buying homes anymore – we
have become a nation of renters.
Buying a new car will add 9% to the state sales tax for many of us. Hell if we are renting
we may as well all use cabs for transportation to escape the 9% sales tax. Using a cab will
even save us the added 9% to the $4 a gallon of gas we need for a car. And we won’t
need to buy tires, oil changes, etc. – all subject to the 9% sales tax.
I just had a yard sale and sold my lawn mower for $100. Who is responsible to collect the
$9 sales tax from the buyer? What form will I use to file the $9 sales tax I owe? Maybe I
could collect the $9 sales tax from the buyer and use that same $9 to pay the income tax I
owe.
Summary
For sure Cain is aware of the many questions associated with his plan. Yet his website
remains very lacking in details. This is troubling. We don’t need verbal details from Cain
on various talk shows, we need written answers on his website.
Cain will often tell us he will surround himself with knowledgeable people to fill the gaps
in his lacking knowledge about any given subject. This is a great concept and I agree with
it 100%. The problem comes when you don’t scrutinize those gap filling ideas and that is
what happened with Cain and the Lowrie produced 999 plan. Cain failed to fully
understand the impact on the middle class, he probably saw the impact on the lower class
and threw in the Empowerment Zones exemption as a fix.
The 999 plan is unlikely to ever pass in Congress. It is Cain’s apparent lack of
understanding the impact of such a plan would have on the average American that troubles
me.
Cain - a great man
with a terrible plan
Thomas Littlefella
.
I am excited about it because FINALLY a wanna-be elected official is talking about serious tax reform again.
Cain's plan may not be perfect--or even doable--but it is certainly the conversation that needs to happen.
You didn’t dream it. If you don’t want to pay the tax for a new car then buy a used one.
“I just had a yard sale and sold my lawn mower for $100. Who is responsible to collect the $9 sales tax from the buyer? “
Nobody because there would be no tax on used items. Only on new, retail items.
As it says on Cain’s page.
Pretty obvious.
“I like Cain. But is his 9% sales tax on top of my 7% local sales tax? That’s 17% on everything I purchase...”
So you’re alright with paying massive taxes as long as they’re hidden and buried in the retail price?
OBVIOUS taxes are the problem?
Because I promise you, you’re paying more then 9% in hidden taxes with every item that you buy.
9% will be less.
9-9-9 will “force Congress to take a serious look at reforming the tax code.” Says who?
I doubt this thing would ever be presented to Congress. It’s a publicity gimmick.
After Congress and Senate get done with it, can you guarantee that this new tax plan won’t include used items?
When the drawing board is blank with details, as is the 999 plan - it is terrible. As Bachmann said "the devil is in the details" and there are no details of the 999 plan.
What about the 34% corporations pay to make products you buy, you don’t think that increases your outgoing expenditures?
Ronald Regan would tell Art Laffer to run around to the other end of the curve and get his ass VERIFYING the 999 PLAN now that Art has TRUSTED it.
Hang on, let me get this straight. You are dissing the plan based on the fact that the Congress and the Senate might add things you don't like. On that basis, how can you approve of any idea from any presidential contender?
There wouldn’t be tax on used items. The tax was collected when it was new.
Nice try.
What don’t you understand about the fact 40% of the cost of everything you buy is tax upon tax. The 9/9/9 plan would reduce the total tax you pay. As an example, 40% of the cost of a new car represents costs of taxes passed on at every stage of building the car, from digging the ore out to putting the windshield on. Cain’s proposal is to reduce that 40% to at most 27% of the cost. When the GDP is 10 trillion and the government collects 4 trillion, where do you think that 4 trillion is hiding in the economy? It is right there in front of your nose - 40% of the cost of everything you buy.
The itialized part of my post, the part that says - I just had a yard sale and sold my lawn mower for $100. Who is responsible to collect the $9 sales tax from the buyer? was from TLittlefella's vanity article. I was quoting his material.
Either you intended your comment for TLittlefella or you are posting while on a crack binge. You should really go back to rehab.
I hope this helps.
Didn’t you post this same stuff a few days ago?
Im not a moron. I just wanted clarification.
Do you pay any federal income tax? What percentage of your income do you turn over to the feds without ever getting a chance to make a decision on how to spend it?
Here’s one for ya. I also went to the site and saw little of nothing for such a grand plan.
Good post. You may get some heat. But perhaps some will settle down and put on their thinking caps.
Yes, I posted something similar - today I'm looking for the facts - facts that I thought the last debate would bring forward - but the other candidates did not go there, they let Cain escape with general non specific answers.
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