Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Can Herman Cain's 999 Plan Work?
Axel Whiteman ^ | 10/5/11 | Axel Whiteman

Posted on 10/10/2011 9:05:29 AM PDT by justsaynomore

UPDATE: 9/27/2011 We were contacted directly by the Cain Campaign's chief economic advisors last week, and were advised that base numbers in our analysis significantly understate the initial revenue generated in the first year of the 999 plan. The Cain Campaign had indicated a willingness to share their raw data so that we might adjust our projections. We anticipate that this information will be made available shortly, and we'll review their data, and will modify our analysis if warranted.

While the nation awaits Barack Obama's "Jobs Plan," which will be countered by the Romney "Jobs Plan"and the Wall Street Journal swoons over Jon Huntsman's economic plan; we thought we'd take a moment to review the economic plan proposed by Herman Cain.

About two weeks ago, Presidential hopeful, Herman Cain announced his "Vision for Economic Growth" which he calls 999. The previous link is to the official campaign brochure describing the plan. The brochure appears to be rather poorly constructed, stringing together often unrelated talking points, policy initiatives, and goals. (For anyone interested, we've done a point by point critique on the shortcomings of the brochure here, and cut and pasted our own suggestions here.)However, on closer inspection, one can see what is likely to be the unedited stream of conscience thought of a singularly brilliant individual. Despite the explanatory shortcomings of the brochure, the "Vision for Economic Growth" is quite simple in nature

Cain's "Enhanced Phase I".

Cains vision is;

Limit all personal income taxes (including SS / Medicare) to 9%

Reduce Corporate Taxes to 9%

Introduce an national sales tax of 9%

Phase II would be to eliminate the personal income tax and the Corporate Income Tax and replace them both with the "Fair Tax"

Cain's brochure claims that the plan is revenue neutral, which would mean that it would generate a similar amount to the current Federal Revenues of about $2.162 Trillion. At first glance it seems difficult to fathom. It fortunately it isn't difficult to test this contention. We'll simply assume zero deductions and multiply the aggregate totals of each sector by 9%.

Our best, or perhaps most optimistic, estimate of aggregate U.S. personal income comes from University of New Mexico's Bureau of Business and Economic Research. According to UNM's BBE - total personal income in 2011 will be $12.590 Trillion.

Corporate Taxable income is a bit more difficult to ascertain due to the ability of Corporations to make business decisions and accounting allocations based on prevailing tax law. Data is readily available for total Corporate taxes paid, but this includes a large number of deductions and accounting allocations to define depreciation, capital gains, etc. Again in the interest of erring on the high side, we'll use our own extrapolation of data. Last year, Corporations reported after tax profits of about $1.5 Trillion. Based on a current corporate tax rate of 35% and corporate propensities to shift "profits" into capital gains or other lesser taxed classifications, one could make a reasonable case that the core gross profit to which tax would be applied could conservatively be estimated to be twice that amount. That is $3Trillion.

Total Consumer spending is quite a bit easier to identify. According to the latest annual report from the U.S. Census Bureau (calendar year 2009), the total amount of sales for the U.S. Retail Industry (including food service and automotive) was $4.13 Trillion.

A quick acid test of the numbers would be to total them and see how they compare to total GDP. The total of our factor is about 19 Trillion. Recognizing that to a large extent "retail sales" are largely previously counted in Personal Income, and that the total GDP is estimated to be around 15 Trillion, our estimates of "Taxable Base" against which to apply the Cain 9% tax rates appears to be reasonable. Now applying the 999 tax rate yields the following.


Total Aggregate
Tax Rate
Gov. Revenue
Personal Income $12,530,101,184

0.09 $1,127,709,107
Corporate before Tax Income $3,000,000,000 0.09 $270,000,000
Gross Consumer Purchases

$4,200,000,000 0.09 $378,000,000



$1,775,709,1

As we can see from the above referenced table, the 999 plan, when applied to current economic levels of activity; falls significantly short of the current Government revenue of 2.162 Trillion. In this blunt and rather static analysis, the 999 plan would result in a $387 Billion revenue shortfall when compared to current tax revenue estimates.

So is the plan unworkable?

Not so fast....

One of the difficulties in estimating tax revenue is that both people and corporations change their behavior in order to take advantage of tax policy. Obviously, this plan is proposed encourage economic activity, and create an environment where economic growth can occur. It would not be unreasonable for the 999 plan to result in a 10% growth rate. Ok, that's a bit aggressive, but not unreasonable. Remember, the Federal Budget Baseline assumes an 8% annual growth in Government outlays, and that after 4 years of no growth - there may be significant "pent up demand" making this possible. And honestly, if we don't get some economic growth out of a dramatic policy change, why bother anyway. So, lets scale back a bit, and for the sake of rhetorical simplicity, assume 9% growth....

9% Growth Projection


Personal Income $14,887,013,217 0.09 $1,339,831,190
Corporate before Tax Income 3564300000 0.09

$320,787,000
Gross Consumer Purchases 4990020000 0.09 $449,101,800



$2,109,719,990

Now we're getting somewhere. If one assumes that we can achieve significant growth after instituting such pro-growth policies; we are now within $50 Billion of being Revenue neutral. In fact if the growth continues for another year, we would surpass the revenue neutral point and then become "Revenue Positive."

Based on the assumed growth projections, the 999 plan becomes revenue "Positive" quite quickly. The underlying philosophy of the plan is sound, if not brilliant - both from the perspective of functional economics and political positioning. The broad and indiscriminate capture of ALL income at a low rate removes government from picking "winners and losers". For the above projections to maintain any degree of accuracy, ALL deductions are eliminated. That's right, no charity, no mortgage, no green energy etc. Just straight .09 from everyone. This removes market distortions from economic decision making. It also removes a great deal of power from the legislature to create private sector billionaire's with the passage of legislation. (Oh the humanity!)

It is, in short "Economic Liberty"

The diametric opposite of what has been in practice since the Obama administration took office.

Politically, it is of equal brilliance. The mainstay of Barack Obama's political rhetoric is class warfare. To be fair, it is at times the a common tool for the right wing media as well. Limabaugh frequently bemoans the fact that almost half the nations population pay "no income tax." While that's technically true, it is only so by a matter of semantics, not economics. About 20% of every wage earners productive income is confiscated by the Federal Government and labeled "Social Security, and Medicare" contributions. Once confiscated it is thrown into the exact same General Fund that higher wage earners "Social Security, Medicare, and Federal Income Taxes" are placed. Other than the label - there is no difference in these funds.

Consequently, we have Obama on one side chiding "millionaires and billionaires" for not paying their "fair share." - When they already cough up 50% of their income. And on the other side we have Limbaugh, Levin, and Boortz lamenting the fact that half of the country are "freeloaders" paying nothing in Federal Taxes - "When the freeloaders" are busting their butts for $10 bucks an hour, and taking home $8 an hour.

This Tax structure creates the fertile ground on which the seeds of class envy are planted and harvested by antagonists on both sides.

The 999 plan puts all Americans on equal footing and eradicates the root of class warfare.. When Legislative issues arise that will call for more spending and imply the need for higher taxes, it would be a great change of pace to see every productive American evaluate the issue from the standpoint of a taxpayer/stakeholder. (Even illegals would object to higher taxes!)

The 999 plan is an outstanding concept, unfortunately; it only addresses one side of our current Federal Fiscal Crisis. Even if 999 initiates a period of extended 9% growth, it still leaves an annual deficit of more than a $Trillion annually. Even if revenues grow at 9% per annum, the current budget baseline of 8% annual growth, when added to the required interest payments to fund the increasing deficits - yield a budget that NEVER balances.

As bold and dramatic as the 999 plan is, it addresses only the revenue side of the Federal Financial issue. As Cain often says, "First you've got to identify the problem." The revenue "problem" is how to most equitably, and efficiently extract about 20% of GDP from the nations producers? 999 is an elegant and effective answer to that question.

The more pressing question remains, "How do we run the Federal Government on less than 20% of GDP?" This will require actual budget "cuts" - not the faux "cuts against the baseline" that are the Washington norm. The answer is this:

Combined with the 999 Revenue Plan, the Congressional Super Committee must establish a "Prosperity Baseline Budget" of $2.2 Trillion. (That's approximately 2004 level spending) and re-establish the "growth baseline" to be limited to 1% per year. Sparing everyone the laborious calcs after the first year of implementation the resulting outcome would be:

999 Revenue Plan + Prosperity Budget Baseline =

9% annual economic and revenue Growth, and the virtual elimination of all Federal debt - in 9 years.

Year Federal Revenue (in Trillions) Payment on Debt
2.3947 0.19473

1 2.6103 0.3882557
2 2.8452 0.60095871
3 3.1012 0.8345826
4 3.3804 1.09102801

5 3.6846 1.37236683
6 4.0162 1.68085762
7

4.3777 2.01896235
8 4.7716 2.38936478
9 5.2011

2.79499039


13.36609699

Wishful thinking? Sure, but a solid goal for which to aim. If we achieve the growth sought and projected, the ability to cut the Federal Budget will be enhanced due to significant decreased reliance on unemployment benefits and Medicaid.

In other words:

9% Personal Tax +

9% Corporate Tax +

9% Sales Tax

=

9% Real Economic Growth and

ElIMINATE FEDERAL DEBT - in 9 YEARS


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: 999; fairtax; hermancain; taxes
Navigation: use the links below to view more comments.
first 1-5051-76 next last

1 posted on 10/10/2011 9:05:34 AM PDT by justsaynomore
[ Post Reply | Private Reply | View Replies]

To: justsaynomore

I’m not sure why the tables didn’t align correctly, maybe someone can fix that (or folks can go to the original article)


2 posted on 10/10/2011 9:09:22 AM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

Only after the house and senate have their say. The tax attorneys and accountants will fight any change to the last k street. Thug standing.


3 posted on 10/10/2011 9:09:45 AM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore
Cain is running for potus as a political neophyte and with no governing or legislative record for voters to judge him on. Therefore in order to draw a distinction between himself and the other candidates, Cain has taken a page right out of the Romney playbook, time to hoodwink conservatives.

Cain's 999 tax plan is nothing but a gimmick, a political ploy. Just like his Chilean plan is for SocSec. Cain is pandering for votes with a tax plan that expands the current federal tax system to include a national sales tax and that opens the door to the next step, a European style VAT, or Value Added Tax.

4 posted on 10/10/2011 9:12:23 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

Cain’s 999 plan from his web site:

http://www.hermancain.com/images/economicgrowth.pdf

What the heck are those “Empowerment Zones” shown in bullet points 6 and 9 on the upper left of the second page?

If that is another way to redistribute income, or to treat one class of the unemployed more favorably than another, I want no part of it.

Social engineering like this is precisely the way the current tax code has become so unwieldy and unfair. If we are going to revise the tax code, then all social engineering and loopholes should be eliminated, not just some of them.

The “Empowerment Zone” special treatment has the feel of pandering to some special group.


5 posted on 10/10/2011 9:12:35 AM PDT by LOC1 (Let's pick the best, not settle for a compromise.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: justsaynomore

This morning Steve Moore, who knocked this plan initially, said this plan would be like rocket fuel for the economy.


6 posted on 10/10/2011 9:13:10 AM PDT by MestaMachine (obama kills)
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

**However, on closer inspection, one can see what is likely to be the unedited stream of conscience thought of a singularly brilliant individual. Despite the explanatory shortcomings of the brochure, the “Vision for Economic Growth” is quite simple in nature.**

Sorta like the Constitution!

Every whiner should print and study this carefully for a Eureka moment.

Thanks jsnm;)


7 posted on 10/10/2011 9:17:35 AM PDT by sodpoodle (God is ignoring me - because He is watching you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MestaMachine

“This morning Steve Moore, who knocked this plan initially, said this plan would be like rocket fuel for the economy”

Bravo! And God bless him for rethinking his “position”. The Perrywinkles are out in force and can’t stand a person who is not a politician!


8 posted on 10/10/2011 9:19:55 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
[ Post Reply | Private Reply | To 6 | View Replies]

To: justsaynomore

Well Axel don’t you think you should let Fr know exactly who you are?

Romney, Connaly (when he was Dum or Rep?) BTW what project were you and Lemmie working on in east AUSTIN.

Frequent contributor to FreeRepublic? Townhall.Com.

AND SALON!

Where is the TRANSPERANCY?


9 posted on 10/10/2011 9:21:57 AM PDT by marty60
[ Post Reply | Private Reply | To 1 | View Replies]

To: Reagan Man

Why do would think Cain would want a VAT?


10 posted on 10/10/2011 9:27:11 AM PDT by Perdogg (I will support any Republican candidate against 0bama in 2012)
[ Post Reply | Private Reply | To 4 | View Replies]

To: freeangel

He IS a politician worked for John Connally and Romney.

Now he’s shilling for CAIN. Don’t any of you ever do any research?


11 posted on 10/10/2011 9:27:21 AM PDT by marty60
[ Post Reply | Private Reply | To 8 | View Replies]

To: Reagan Man

sorry about that,

Why do you think Cain would want a VAT?


12 posted on 10/10/2011 9:28:44 AM PDT by Perdogg (I will support any Republican candidate against 0bama in 2012)
[ Post Reply | Private Reply | To 4 | View Replies]

To: LOC1

I’m with you. If a plan has “exceptions”, I’m out.


13 posted on 10/10/2011 9:32:25 AM PDT by cuban leaf (Were doomed! Details at eleven.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: justsaynomore

The table also does not take into account the 46% of the US population that does not pay any income taxes. Would they now be required to pay at least 9%?? Would welfare recipients be required to pay 9% on the money they get from the govt? When the one starts spouting off about paying their fair share I keep thinking about the 46% who pay nothing.


14 posted on 10/10/2011 9:33:10 AM PDT by BobinIL
[ Post Reply | Private Reply | To 1 | View Replies]

To: marty60

“Now he’s shilling for CAIN. Don’t any of you ever do any research?”

Did I miss the part of Cain holding any elected position?


15 posted on 10/10/2011 9:33:15 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
[ Post Reply | Private Reply | To 11 | View Replies]

To: justsaynomore

Numbers and plans on paper don’t lie but they also do not account for the avarice and duplicity of the professional politicians controlling the process.

In this respect there is little to differentiate between the establishment pols in both parties.

The more money available to the politicians the more they will spend. Because they cannot be trusted in the slightest, the only workable solution to the budget and deficit crisis is to cut spending.

Once the Big Government politicians have a sales tax and an income tax effective at the same time they will never let it go.


16 posted on 10/10/2011 9:36:18 AM PDT by Iron Munro (Obama's secret: "Once you learn to fake sincerity you've got it made")
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

“Can it work” is is superseded by “can it pass Congress?”

I like Cain and I like 9-9-9, but I think we know the answer to the question above.

However, I appreciate Cain at least OFFERING a new tax future.

What are Mitten’s and Perry’s plans? Tinkering on the edges. Status quo.


17 posted on 10/10/2011 9:38:52 AM PDT by Noamie
[ Post Reply | Private Reply | To 1 | View Replies]

To: freeangel

So WHAT is CAIN doing now. Running interference for Romney.

Everywhere you look re Cain you find Romney ties.

Why are all these Romney and McCain workers ending up with Cain?

Figure it out.
When Jim band the Romnuts from turning FR into a Romney site, I wonder what form their attacks would take.

They must be really proud they KO’d Bachmann.
Perry will not be that easy. Bet on It.


18 posted on 10/10/2011 9:46:05 AM PDT by marty60
[ Post Reply | Private Reply | To 15 | View Replies]

To: Perdogg
Didn't say Cain wanted a VAT.

That is the next logical step and could happen if his 999 plan or any national sales tax plan was installed. American liberalism is the cousin of Euro-socialism. That was my point. Lowering the income tax and corporate tax rates is great. America doesn't need or want a national sales tax. Period. The issue stimulates debate and that is good, but in reality its a moot point. Its a gimmick that will never see the light of day.

19 posted on 10/10/2011 9:47:57 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
[ Post Reply | Private Reply | To 12 | View Replies]

To: marty60

So, a romneybot is pimping for Cain to keep votes from going to anyone that is a danger to Romney?

I wouldn’t put it past slimeball Romney.


20 posted on 10/10/2011 9:48:55 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Perdogg

No, 999 is not a VAT, it is on the final point of sale.

VAT taxes every level of production and hides the cost of the tax inside the cost of goods. It makes all business the Government’s cut out tax collector. Therefore VAT is a much more opaque and different form of taxation then a Sales Tax.


21 posted on 10/10/2011 9:50:01 AM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Beagle8U

The fact that gets me is that Cain’s book is a bust. Not even on Amazons top 100.

His FEC filing showed that he was making dinations to his campaign from his own Corporation. Then in Expenditures he list his Corporation as a vendor. In reality moving money to make it look like he is raising money.

His refusal to attack Romney. Yet he attacks Perry without basis.
Now he’s running around doing my daddy’s goal was to buy a Cadillac. What is THAT?
typical sterotype of Blacks.

NAH he’s working WITH ROMNEY.


22 posted on 10/10/2011 9:53:51 AM PDT by marty60
[ Post Reply | Private Reply | To 20 | View Replies]

To: justsaynomore

My questions: What will a 9 percent sales tax do to people who already pay up to 7 percent in sales tax? How will it affect revenues for those states when people start buying less? ...Does a national sales tax mean we can get rid of punitive taxes taxes on things like alcohol, cigars and fuel? If 9-9-9 works to balance the books for the government we have, why not go 7-7-7, and balance the books with a smaller government? Maybe that could create a movement that would get us to 5-5-5. Can we also have a moratorium on fed growth?

I doubt 9-9-9 will ever see the light of legislation, but it is a good conversation starter on tax reform and smaller government.


23 posted on 10/10/2011 10:00:34 AM PDT by pallis
[ Post Reply | Private Reply | To 1 | View Replies]

To: BobinIL

Everyone pays 15.3% FICA

9% income tax replaces FICA too.


24 posted on 10/10/2011 10:17:04 AM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 14 | View Replies]

To: justsaynomore

Cain’s plan is FAR TOO CONSERVATIVE on how much the base would expand.

He could implement a 9 - 9 - ZERO plan, and the Federal government would still end up with an enormous surplus provided it simply froze spending in place (minus Obamacare)

I think it would be far easier for him to pass a 9-9-0 plan than it would be to add a new federal revenue engine in the form of a national sales tax.

No matter how you slice it, a federal sales tax is going to cut into state/local government’s ability to generate revenue the same way they do today.

We would be seeing states and local governments shifting taxes to more hidden areas, and raising income taxes at their level in order to compensate.

I say LEAVE THE SALES TAX OUT OF THIS Herman!
Other than that, Cain has my full support!


25 posted on 10/10/2011 10:17:33 AM PDT by Safrguns
[ Post Reply | Private Reply | To 1 | View Replies]




Click the Pic               Thank you, JoeProBono

But Later That Day, Gary Met Harriet, Who is Not a Tape Dispenser

Follow the Exciting Adventures of Gary the Snail!


Abolish FReepathons
Go Monthly

Planning to donate at least $10? You can sponsor
one or more New Monthly Donors for no additional cost
FReepmail TheOldLady

26 posted on 10/10/2011 10:20:30 AM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
[ Post Reply | Private Reply | View Replies]

To: justsaynomore

Sales tax revenues are vulnerable to economic downturns. When the economy tanks, so will government revenues, at the very time you need government to provide support through the safety nets.

Income tax is much more stable and not as subject to the vagaries of consumer psychology. And there is nothing unfair about a progressive income tax as long as top rates don’t become unreasonable. Those who earn more use more services. Though there is something to be said for almost everyone paying a share no matter how small to have some ownership in the system.

If you put income tax and sales tax in, you’ll end up with both rates rising.


27 posted on 10/10/2011 10:24:17 AM PDT by DannyTN
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

Sales tax revenues are vulnerable to economic downturns. When the economy tanks, so will government revenues, at the very time you need government to provide support through the safety nets.

Income tax is much more stable and not as subject to the vagaries of consumer psychology. And there is nothing unfair about a progressive income tax as long as top rates don’t become unreasonable. Those who earn more use more services. Though there is something to be said for almost everyone paying a share no matter how small to have some ownership in the system.

If you put income tax and sales tax in, you’ll end up with both rates rising.

The problem is not the tax code. The problem is the trade agreements. Where are the tariff revenues? We’re taxing individuals 9%, and corporations 9%, how much are we taxing imports from other countries? Average tariff is 1.3%. And the consumer will pay 9% regardless of who he buys it from. So foreign competitors are at an advantage.


28 posted on 10/10/2011 10:29:23 AM PDT by DannyTN
[ Post Reply | Private Reply | To 1 | View Replies]

To: DannyTN

The rates are temporary and during that time will require 2/3 majority to change.

999 is just phase one bridge to the Fair Tax. http://www.fairtax.org is packed with information and answers to most sales tax questions.


29 posted on 10/10/2011 10:38:55 AM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 28 | View Replies]

To: org.whodat

Will the sun rise in the east tomorrow too?


30 posted on 10/10/2011 10:47:34 AM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Reagan Man

Spoken like a true “moderate.”


31 posted on 10/10/2011 11:02:19 AM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: TigersEye

Conservatives don’t support expanding the federal tax system to increase the power and scope of the IRS. That is exactly what Cain’s plan would do and why I oppose it.

This highlights Cain’s inexperience and lack of good judgment. We are electing the POTUS, not the President of Godfathers pizza. LOL


32 posted on 10/10/2011 11:11:46 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
[ Post Reply | Private Reply | To 31 | View Replies]

To: marty60

“He IS a politician worked for John Connally and Romney.”

Sheesh—I’ve worked on campaigns, too. Does that make me a “politician”? My family would be surprised to hear that bit of news.


33 posted on 10/10/2011 11:42:25 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
[ Post Reply | Private Reply | To 11 | View Replies]

To: marty60

“Perry will not be that easy. Bet on It.”

I have nothing personal against Perry and I don’t think beating him will be easy. I just think Cain is the better man for the job at this time.


34 posted on 10/10/2011 11:46:53 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
[ Post Reply | Private Reply | To 18 | View Replies]

To: freeangel

Sorry I can’t trust a man that plays games with FEC filings.

And gives employees the Ken Lay treatment. then turns around and claims he cause some miracle to a Company that is barely surviving.

He is not an honest man. THAT is the problem I have with him.


35 posted on 10/10/2011 11:52:51 AM PDT by marty60
[ Post Reply | Private Reply | To 34 | View Replies]

To: marty60
"He is not an honest man."

So he IS a politician after all....

36 posted on 10/10/2011 12:04:44 PM PDT by moehoward
[ Post Reply | Private Reply | To 35 | View Replies]

To: justsaynomore

Too bad this thread is about done.

Cain, if you want my vote and a lot of others’ you’d better drop the sales tax now.

We can’t compete with China and other countries that are not subject to similar regulations as ours. If you tax their imports you are inviting a trade war. Use common sense and reverse all of the regulations that are destroying our competitiveness. ALL OF THEM!


37 posted on 10/10/2011 1:44:12 PM PDT by Enough is ENOUGH
[ Post Reply | Private Reply | To 1 | View Replies]

To: justsaynomore

Too bad this thread is about done.

Cain, if you want my vote and a lot of others’ you’d better drop the sales tax now.

We can’t compete with China and other countries that are not subject to similar regulations as ours. If you tax their imports you are inviting a trade war. Use common sense and reverse all of the regulations that are destroying our competitiveness. ALL OF THEM!


38 posted on 10/10/2011 1:45:23 PM PDT by Enough is ENOUGH
[ Post Reply | Private Reply | To 1 | View Replies]

To: Enough is ENOUGH

The sales tax is not negotiable because it is the key to phase two of his plan which is the FAIR TAX.

The best place to get information about the Fair Tax is http://www.fairtax.org

And he has already said that he would fight to reverse regulations. One of his biggest targets is the EPA.


39 posted on 10/10/2011 1:48:29 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 37 | View Replies]

To: BobinIL

That’s the first thing I think of as well.


40 posted on 10/10/2011 1:54:36 PM PDT by corlorde (NH)
[ Post Reply | Private Reply | To 14 | View Replies]

To: justsaynomore

“The sales tax is not negotiable...”

Neither is my vote.


41 posted on 10/10/2011 1:56:43 PM PDT by Enough is ENOUGH
[ Post Reply | Private Reply | To 39 | View Replies]

To: Reagan Man

So when confronted with detailed analysis and numbers, your response is essentially “Is not!”

Give my regards to the second grade.


42 posted on 10/10/2011 2:00:58 PM PDT by william clark (Ecclesiastes 10:2)
[ Post Reply | Private Reply | To 4 | View Replies]

To: marty60
The fact that gets me is that Cain’s book is a bust.

Guess that explains why all the online booksellers are having to backorder it.

43 posted on 10/10/2011 2:07:15 PM PDT by william clark (Ecclesiastes 10:2)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Reagan Man

Yeah, the status quo is working out so well.

BTW, your argument is hollow. It’s a “becuz I sez so” post.

LOL!


44 posted on 10/10/2011 2:10:55 PM PDT by GatorGirl (Herman Cain 2012)
[ Post Reply | Private Reply | To 4 | View Replies]

To: LOC1

It’s an effort to get businesses to get into the inner city and get people off of WELFARE. I can buy into this plan because I want to see welfare go the way of the steam engine. For everyone.


45 posted on 10/10/2011 2:14:00 PM PDT by GatorGirl (Herman Cain 2012)
[ Post Reply | Private Reply | To 5 | View Replies]

To: marty60

As of this post it’s #14 and has been in the Top 100 since it was released.

It’s sold out of most brick and mortar outlets and ships within 6-9 days from Amazon because they can’t get a hold of enough to fulfill orders the same day like they usually do.

Yeah, it’s a bust all right.


46 posted on 10/10/2011 2:19:12 PM PDT by GatorGirl (Herman Cain 2012)
[ Post Reply | Private Reply | To 22 | View Replies]

To: justsaynomore
Everyone pays 15.3% FICA

No they don't. Most people are not self-employed and pay only 5.65% FICA currently.

47 posted on 10/10/2011 2:24:42 PM PDT by SoJoCo
[ Post Reply | Private Reply | To 24 | View Replies]

To: justsaynomore
We were contacted directly by the Cain Campaign's chief economic advisors last week, and were advised that base numbers in our analysis significantly understate the initial revenue generated in the first year of the 999 plan.

When they get back to you can you please ask them to identify the $2.2 trillion in cuts they will have to make in order to balance the budget under the 9-9-9 plan in the first year? Thanks in advance.

48 posted on 10/10/2011 2:26:48 PM PDT by SoJoCo
[ Post Reply | Private Reply | To 1 | View Replies]

To: SoJoCo

Yes they do, indirectly. Employers include FICA matching when determining compensation levels. And the rate is 7.65, not 5.65


49 posted on 10/10/2011 2:49:12 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 47 | View Replies]

To: SoJoCo

Even if they do have to cut - why is this a bad thing?

Cain has said many times we need horizontal as well as deep cuts in government, including the EPA


50 posted on 10/10/2011 2:52:17 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
[ Post Reply | Private Reply | To 48 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-76 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson