Posted on 10/19/2011 12:27:42 PM PDT by Brookhaven
Herman Cain's 999 plan.
I don’t eat apples. How will this plan help me?
999 was a boneheaded decision. Cain is not ready for prime-time.
He needs to explain it better. He was fumbling around last night like a clown talking about apples and oranges. Soundbites messages matter.
The sheer amount of news articles discussing it say otherwise...
what is the corporate tax rate?
isn’t it the highest in the world?
eliminating it, would not only make items MUCH cheaper,
it would also instantly make USA produced goods,
the most competitive in the Western world !
...the people who MOST hate replacing corporate tax
with a sales tax
...are the CHINESE !!!
His economic adviser has already told him to drop the 9% sales tax part of the plan.
That is a very analytical description of Cain's 9-9-9 interim tax reform plan and Herman's qualifications for being the President.
Using your calm and reasoned logic, may I suggest that some people have both an opinion and an asshole, but in your case you got two of one which causes your opinions to stink.
Art Laffer likes it, and he's a pretty good economist. http://www.theblaze.com/stories/reagan-economist-art-laffer-cains-999-is-a-wonderful-plan/
I think the smart thing to do would have been to just hit on the problems with the current tax system and the need to consider ways to encourage economic growth including lowering corporate taxes and possibly considering flat tax proposals. There wasn’t going to be any upside to advocating this 999 plan right now.
Is the income tax replacement portion of 999 going to be attractive to the 47% of the voters who pay no tax right now? Save for purchases which ostensibly include the 22% embedded corp. tax, is HC asking them to tax themselves? If he is, then he ought to run on some other platform, then spring this after he is elected. I would appreciate a more balanced tax system, but it is so unbalanced now that the winners outnumber the losers and won’t elect change.
Home sales and other incidental sales are not subject to the sales tax.
I’m sorry but your decision to post a wholly ignorant emotionally hysteric posts like that was boneheaded
There the ticket. Be a total bonehead. Advocate lying to the voters and then changing your agenda after you get elected.
That is a remarkably stupid bit of political advice.
It might be a good plan or at least better than what we have now but it won't do a bit of good if he doesn't get elected. Plus he's gonna need some heavier hitters than Art Laffer to get on board IMHO.
There isn’t any upside to advocating preemptive surrender to the status quo because you are too politically gutless to fight for what is right.
No he didn’t. Moore said Cain MAY BE forced to it because the sales tax is such a political target for the GOP Establishment bots in the campaign. He did not tell Cain to drop it.
Who is advising him to lie?
“Plus he’s gonna need some heavier hitters than Art Laffer to get on board IMHO.”
Art Laffer has endorsed the 999 plan because Art Laffer is one of the authors of the plan, along with Stephen Moore, and Rich Lowrie. He is endorsing his own plan, without bothering to mention that he is one of the authors of it. Just a little deception there, wouldn’t you say?
Anyone who thinks businesses are going to uniformly pass on any proposed savings to the consumer is a naive.
That (suspect) 22%, um, profit will go to the shareholders. In most cases.
Your apple will be $1.09.
What have the other front runners spoken of? More of the same with a little extra for illegals and free loaders.
Not to mention most people’s income taxes will be lower.
Not that there's anything wrong with that.
Yep, and his economic adviser wants to replace that 9% by adding it to the payroll taxes.
9% Flat tax plus 10% Chilean deduction Plus 9% new payroll tax = 28% payroll deductions. Wonderful idea ain't it?
I'm going to buy used apples.
The issue of price stability is not the issue with the 999 plan.
The issue is that Cain’s plan to transition to the FAIRTAX will be stripped out by Dem Senators leaving 999 bare and sent to the President who will then be faced with a challenge to sign or veto. Whoever the President is will sign because the political backlash will be too much to bear; wage earners will receive more take home pay, corporations and businesses will receive a much needed tax break and the national sales tax will become a VAT hidden away from consumers.
The issue then is that the United States will have:
1. An Income Tax
2. A National Sales Tax
3. A VAT
and over time the 9-9-9 will become 29-29-29+Hidden VAT.
Congress is full of deceit, always touting good intentions but never delivering on rolling back any tax until the grassroots has had enough, and even then the snake oil peddling politicians will use all kinds of sweet lies to fool the public yet once again.
Best to get behind the FAIRTAX and stay there.
http://www.fairtax.org/site/PageServer?pagename=about_faq
Study Study Study and Ask Questions!
Costs to the supplier might. However, I would not make the assumption that prices at the consumer level will. Actually, prices for American consumers could even rise, especially if the NST is not applied to exports.
If he starts backing off of it now he'll look like a fool to most people. He's damned if he does and damned if he doesn't.
Wrong! As a retail business owner I would welcome the wider margin and use it to pay down some debt or maybe even afford some other necessities. Lower prices would be the last thing I would do.
Sure they’ll keep it, because there’s no such thing as competiton.
Competition will force prices down. Believing anything else is naive.
Exactly, which is how it will be framed by Obamao, “he wants to tax you, I just want to tax the wealthiest blah blah blah”
Real problem I have with his idea, besides my own financial self interest, is the denizens of Babylon on the Potomac, will, at need, simply tax both incomes and sales.
Lowering the corporate tax rate does not necessarily mean lower prices.
I can’t afford to pay my home ownership dues and my drug dealer for heroin. I’m voting for Obama.
Virginia, for example, double taxes one regarding income form Canada and other countries.
Cluelessness doesn't become you, bkepley, it's time you started paying attention.
I agree. It can be sliced and diced like crazy which takes away from the overall theme that overhaul is needed. Besides, without a Republican House and Senate, his plan would never see the light of day - that is unless the Democrats so bastardized it that no Republican would vote for it.
And they will need to eliminate a ton of hidden taxes in order for it to help businesss and the economy.
It looks to me like a 27% tax increase offset by a 15 - 30% tax decrease. Where am I wrong?
It doesn’t matter. We can whine all we want about “the right thing to do” or “principles” but I don’t see a 9% sales tax getting through Congress. Who is going to vote for it? Besides liberals, of course.
It will make apples easier to buy for those who do eat apples. By doing so, more people will be able to eat one a day and keep the doctor away. By keeping the doctor away, demand for the physician's services decreases. In response to lower demand, the physician will be forced to lower his prices to attract business. You can now save money on your visits to the doctor. And, that is how this plan helps you.
Also your state taxes go down.
If you were paying 6% State tax on that 100 $1 apples you pay $6 in state taxes.
If you pay 6% state tax on the 100 .88 cent apples you on pay 5.28 cent in state taxes.
Today the state is taxing you on the sale prices which include Fed tax built in, state is taxing the the Fed tax you pay
Here’s what I like about Herman Cain. He’s not a phony, wooden, flip-flopper. I believe that he can and will be the first real deal presidential candidate we’ve had in a long time.
That debate last night was embarrassing for the so-called front runners. Did either of those guys even finish the night as remotely likable?
I think it’s high time conservatives stop bashing the only plan the American public can name or understand.
and those are the people that hold most of our debt... now you know why the ‘insiders’ don’t like his plan.
Follow the money.
anyone here pay state and fed gas tax, or a state, fed gas tax and state sales tax???
Except you left out (on purpose?) the deductions people now receive when they itemize, in which case your average middle income homeowner and/or self-employed small business owner is likely going to be paying more in taxes. Maybe a lot more.
What no one discusses on the payroll side is that the social security tax remains. Many of us (not me) only pay social security and medicare tax. So they get hit with an extra near 9%. Plus the student loan deduction goes away.
This will hit the younger population.
All the proposals for drastic change to the tax structure (999, flat tax, fair tax, etc.) suffer from obvious logical flaws.
They claim that simultaneously:
1. Everybody’s (or almost everybody’s) taxes will go down;
2. The proposal will be revenue neutral.
This will not fly. For a tax system to be revenue neutral, if taxpayer A’s taxes go down by $1000, taxpayer B’s must go up by the same amount.
IOW, there will be specific winners and losers with any change in the system. As a general rule, those who see their taxes going up with any general proposal will oppose it with much greater fervor than those whose taxes might theoretically go down will support it.
That is why major changes are so difficult to bring about. Concentrated opposition, diffused support.
Try posting like a rational sane adult instead of hysteric ignorant child and we will not think you so boneheaded
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