Posted on 10/19/2011 12:27:42 PM PDT by Brookhaven
His plan was smart if all he expected to be doing was raising his profile and selling books. Not so smart if you actually expect to win.
** ... people are motivated by a very shallow sense of self-interest ...**
or are CLOSET LIBERALS!!!
The whole political class needs to be taken down for the deceit that is the income tax. It was never about revenue. It was and is about control.
Virginia's house speaker put it this way in 1910
"A hand from Washington will be stretched out and placed upon every man's business; the eye of the Federal inspector will be in every man's counting house . . . The law will of necessity have inquisitorial features, it will provide penalties, it will create complicated machinery. Under it men will be hailed into courts distant from their homes. Heavy fines imposed by distant and unfamiliar tribunals will constantly menace the tax payer. An army of Federal inspectors, spies and detectives will descend upon the state . . . Who of us who have had knowledge of the doings of the Federal officials in the Internal Revenue service can be blind to what will follow?"
I'm not thrilled about giving them another bludgeon they can use on us but if it leads to getting rid of the abomination of income tax then I'm for it.
I agree with Chodorov when he said that American freedom died in 1913. And here we are doing whatever we can to see that it is not revived by arguing about at what rate we are abused rather than how we can eliminate the abuser.
One of his advisors suggests to drop it..
I don’t pay income taxes because I don’t make enough to. I wholly support the 9-9-9 plan because it means that those who do have more money than me, have more money to spend. That means I can get a job where I make substantially more.
So yeah, some of us love Cain’s plan.
“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.”
I am a self employed person. I get money from my clients so I can pay my Taxes, I’m nothing more, just like everyone else, a conduit to collect taxes from my clients and pass that money it on to local, state and federal governments.
All a fair tax does is bring the tax load from the hiding in paperwork and putting into the sunshine where every time you, the end user of goods and services know how much the government are taxing us. Would it shock you to know 41 Cent out of very $1.00 you spends pays for taxes? If it was on your sale receipt and you see it, maybe, just maybe, you would scream bloody murder if politicians wanted to raise the rates instead of wasting money and becoming overpowering with regulation.
It also applies to bananas, in case you are a baboon.
He's got some kind of egghead advisors there who don't know a thing about winning an election. Much as everyone despises the political pros the first duty is to get elected if you're in the running. If they want to write a book let them write a book.
I’m one of the younger generation. We nned JOBS! We need a plan that makes it easier for businesses to creat JOBS!
What we don’t need is uncle sugar’s loans that trap us in debt slavery! No thanks!
Where does that figure come from? What I mean is, how is it arrived at? What taxes figure in to it. Since Cain's plan removes specific, identified taxes from the equation I assume there are other federal excise taxes that will remain and which might alter that 22% figure.
Your take home pay will go up by almost 8%, because the payroll tax is eliminated.
Assuming, of course, that your company takes the savings it realizes from a expense it has occurred and out of the goodness of its corporate heart it passes it on to the employees who didn't pay it to begin with. Knowing my company as I do, I'm not holding my breath on that one.
FairTax.org has been studying this for years. It's a reliable figure (acutally it's even a little on the conservative side--meaning it's probably higher).
Assuming, of course, that your company takes the savings it realizes from a expense it has occurred and out of the goodness of its corporate heart it passes it on to the employees who didn't pay it to begin with.
Ummmm no, were only talking about the employee half of payroll tax. That part that shows up on your paycheck. That tax is eliminated, so instead of being deducted from your paycheck, it will be included in your take home pay.
If they employer kicked in their half (the expense you're referring to) then we'd be talking an over 15% increase in take home pay.
That is very commendable. Thank you for the willingness to participate. I hope others in your situation see the wisdom in this system and advance it.
And if I took the time to poll the prices of all the dry cleaners in my area every time I had a suit that needed cleaning then I might be able to take advantage of that. But there is no free flow of information to all people that makes such pricing transparent. Also, dry cleaners may be an example of a perfectly competitive industry but they are one of the few. If GM passes the break on to the consumer but Ford does not will that necessarily mean GM will gain market share? Probably not; if price was the primary factor then we'd all be driving Subaru's and the BMW showrooms would be empty. Will food go down markedly? Probably not; commodity prices are set on the floor of the Chicago Mercantile Exchange and the Chicago Board of Trade and not by the farmers and ranchers themselves. Those markets move on supply and demand and rumor and fear. Will clothing prices or electronics prices or furniture prices go down? Probably not; virtually all those goods are imported and the price of imports and the price of labor will remain constant so there is no real savings to pass along. The long and short of it is that virtually all savings will almost certainly be retained by the company that gets it. Any price cuts will be small and sporadic.
“I’m one of the younger generation. We need JOBS! We need a plan that makes it easier for businesses to create JOBS!”
Locally we have a sales tax of about 6% on just about everything including food and clothing. With the 999 plan I suppose I would be paying a 12% sales tax on at least some items. However, implementing the tax nationwide would be difficult as states and localities have a hodgepodge of sales taxes that apply to different things. For example some states do not collect sales tax on food or clothing. Taxes on new cars also vary widely (only 3% in this state). I could see implementing this national sales tax to be very difficult and costly to the merchants who will be collecting it.
I think (and fear) the sad reality is that the progressive income tax is so ingrained into today's "fairness" culture that drastic changes would be viewed by the sleeping independent middle class as a huge overstep. Yeah, of course that's the direction to go and agreed that most will benefit... eventually. But rapid changes will inevitably create confusion which has the potential to create fear which the Donks will exploit and ride in to befoul the plan. Heck, we could leave our children with the legaxy of an income tax AND a federal sales tax. Ugh! It's like those spending cuts Reagan never got.
Cain might soothe the sales tax fear (which will hurt first) by suggesting a slow implementation (if he hasn't already). But should Cain win, he'll still have the vote counting problem in Congress. Presidents have less power than CEOs. Who will vote for a national sales tax? The GOP? The Dems? Maybe both.Would the Taxed Enough Already "party" support a sales tax were it actually to come to a vote?
Final thought, just electing a GOP president will improve the economy and encourage investment based on expectations. When that happens people will spend more and I don't think they are going to want to pay taxes on what they're buying, even if their paychecks are fatter.
Of course I would lower prices if I had to but you guys really have no idea how bad things are for businesses right now. I do thank you for showing me the light on how Cain supporters are in same league of sheephood as PaulTards.
It’s like the Tiger.
I don’t have to run faster than the Tiger. I just have to run faster than you!
Not if the guy in the next apple orchard is willing to cut his prices a little more. There will be a slow race to the bottom.
Burnout all corps are paying the full rate.
I know that periodically when I need to upgrade equipment that I enjoy the section 172(?) dedeuction for accelleerated depreciation. I assume that goes away. That would suck. A single lens can costs as much a $7,000. Not cheap.
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