Posted on 10/08/2011 4:09:26 PM PDT by Clairity
The real political defect of the Cain plan is that it imposes a new national sales tax while maintaining the income tax. Mr. Cain's rates are seductively low, but the current income tax was introduced in 1913 with a top rate of 7% amid promises that it would never exceed 10%. By 1918 the top rate was 77%.
Part of Mr. Cain's appeal is his willingness to challenge political convention, and he certainly has with his tax proposal. Voters like that he isn't a lifetime politician but a successful business owner who has met a payroll and created jobs. But his endorsement of a sales tax on top of the income tax is a political gamble that would eventually finance an even larger entitlement state. Better to reform the devil we know—the income tax—than to introduce another devil and end up with ever-rising rates of both.
(Excerpt) Read more at online.wsj.com ...
****But his endorsement of a sales tax on top of the income tax is a political gamble that would eventually finance an even larger entitlement state.****
How so?
Cutting spending and a balanced budget is the stated goal.
I’ve looked very carefully at Cain, Perry & even Romney.
Hands down Cain is the BEST of the three. Perry is better than Romney...but that’s not saying much.
I’ve looked very carefully at Cain, Perry & even Romney.
Hands down Cain is the BEST of the three. Perry is better than Romney...but that’s not saying much.
Well, I’m not going to toss out Mr. Cain with the bath water without asking a few questions:
1) Has he said he wants to add his national sales tax on top of the income tax?
2) Does he have a plan to repeal the 16th amendment?
If it was a political killer he wouldn’t be leading in the polls. But then, when are pundits ever right about anything?
Hear Cain in his own words:
http://www.c-spanvideo.org/program/SummitAfter/start/5769/stop/9318
This opinion piece distorts his plan.
This is an outright lie. Do your homework.
That’s what his 9-9-9 economic plan is:
9% national sales tax (New goods only)
9% income tax
9% corporate tax
I would reckon the income and corporate taxes don’t have few, if any, loopholes.
I watched Fox Business this morning and they were all saying Cain’s plan would be great.
A national sales tax on top of a flat income tax makes perfect sense because it will serve to even out the peaks and valleys in revenue by using two different revenue streams. Fiscally it makes great sense. Politically, it will cause hysterics, like anything else Cain says.
"The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax."
~Herman Cain
Pass constitutional amendment defining that sales tax can not exceed 9%.
Cain is not a dictator, he presents a plan to congress, congress writes and passes an agreed upon plan after debate, if you are about to dirty your undies over a plan, before the legislative process takes place, call on your fellow democraps for help.
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>amid promises that it would never exceed 10%.
Wow. Lie.
9% sales tax turns illegals, and non income tax payers into taxPAYERS, which means they are stakeholders.
One could reduce the income rate to 0 and simply use the 'Fair Tax' that he supports.
I must say, this foolish proposal is exactly why I dropped all support for Cain in March of this year. He repeated this idiotic proposal then, and I could clearly see he was just not able to lead this country in any substantial way.
I know your a Perry supporter and that is fine, but did you miss the part where the current tax code is replaced? or are you trying to mislead? If it was a mistake then fine, but if you are trying to mislead why side step the truth?
9% on earnings and then 9% on what we spend or better yet 0% on what we save!
What would be Perry’s plan or the plan you would propose? After all we have to pay something to get ride of the debt and deficit we have now. Don’t forget cut, cut, cut, which I think both candidates would do.
Caine also does not have a voting record to examine, or public executive office record. We have to trust his words.
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