Posted on 10/13/2011 9:59:12 AM PDT by SaraJohnson
If you have a family of four with an income of just under $50,000, they could end up paying more under the Cain plan. Currently, they are taxed around $3,850 in income tax. Under Cain’s plan, they would be taxed at 9 percent or pay $4,500. That’s $650 more. Although the family would save almost $4,000 in Social Security taxes, it would have to give up the child tax credit worth the same amount. Furthermore, it would pay an additional national sales tax of 9 percent on everything purchased, including groceries and clothes, which totals about $2,000. That means under the Cain plan that family could end up paying $2,725 more.
(Excerpt) Read more at abcnews.go.com ...
999 means to me that if Cain is nominated I’m not voting for him.
One problem with this country now is that society has become annoyingly selfish. No one thinks what is good for the country, everyone thinks what is good for me and mine.
We all want Police, Schools, and National Defense to be paid for by “the Government.” But we really mean we want someone else to pay for it — not me, not mine.
I'm not going to pick on your MIL, because I'm not trying to make this personal. So let's use my own Mother instead - she is on SS and her meds are very expensive.
Does my Mother benefit from having Police in her neighborhood? Yes.
Does she benefit from having schools to educate the next generation? Yes.
Does she benefit from our Military protecting our country? Yes.
Should she have to pay taxes to help share the burden of Police, Schools, and Military? In my opinion, YES, my Mother should have to pay something for those services.
Just because she doesn't currently pay for those services, doesn't mean it's RIGHT. Do I want my Mother's net income to go down? Not at all. But I'm not going to vote against something that is good for the country, just to protect my own Mother from RIGHTFULLY having to pay for services that she benefits from.
And if that means my siblings and I have to chip in to pay her share of those taxes, then that's what we do. We do not expect you, or my friends or neighbors to pay MY MOTHER'S share of the cost. My Mother's share is not your responsibility — it is my Mother's responsibility, and since she can't afford it, then it becomes my responsibility (and my siblings).
No one is being heartless here. It's just a difference in philosophy. Just because “that's the way it's always been done” does not mean it is right.
Any credibility you had just vanished in a cloud of falsehood.
The purpose of a consumption tax that does not apply to exports is that it rewards production and exports not consumption and imports. We cant be begging for handouts from foriegn countries forever just to win a few votes.
Hotels/Motels already charge something like 14-18% tax.
Fantastic post.
“Pass or not is shows us the underlying thought processes of its creator. Committed to supply side economics, believes everyone should have “skin” in the game and that taxes are too high. Try to glean any of that from the other contenders.”
I couldn’t agree more, it was worth repeating here.
The Fairy tax plan has been around for many many years and is going nowhere.
LOL because this is our best, and probably last, chance to save ourselves from total collapse. That 49% used to be just 35%, then 40%, then 45%. Pretty soon that 49% who don’t pay anything will be 51%, and if we still have this same tax system at the point, it is GAME OVER.
We minority of working suckers will forever be outnumbered at the ballot box. The tyrannical free-loading majority will keep voting for and insisting on higher and higher taxes (on us).
Everyone’s freaked out about 9-9-9 maybe going to 50-50-50 some hypothetical day.
I’ll tell you this: within a few years, when today’s 49% becomes 51%, we’re going to see top marginal federal income tax rates going back to 90% or more, capital gains taxes going to 50% or more, massive taxes applied to 401(k) and IRA withdrawals, etc.
And yes, it will be LOL at the stupidity of those who don’t see this train wreck coming and realizing the only hope of stopping it is to get *everyone* paying some federal taxes so that *everyone* will feel the pain when Fedzilla goes on its spending binges.
BS.
I just ran the numbers. Do it yourself, if you'd like, on any number of websites. $50,000 income, married, filing jointly, two children as dependents, standard deduction only. Total tax owed: $2690. If both children are eligible for the standard child tax credit, the amount owed would be $690.
To promote this story line, ABC used a filing status of either "Single/Married Filing Separately" or "Head of Household" and ignored tax credits, which would yield taxes of $3985 or $3398, respectively.
From your "about" page:
"I vote for the most America first conservative who is pro-life, pro-military and pro-jobs."
Sure doesn't sound like it to me.
I’d say exempt food and other necessities (or add the “prebate”) and make the rate 11%.
But “9-9-11” doesn’t sound good. In fact, it sounds too reminiscent of 9/11.
Go ahead then vote for Obama... If you don’t vote, that is a vote for Obama. Spoken like a spoiled child.
I don’t support Romney in the primary but if he had the nomination you bet your a$$ I would be pulling the lever for him over Obama.
No vote in the general is a vote for Obama. Period.
“I’m curious if the analysis accounts for replacing energy taxes, federal gas taxes, 30% phone taxes with the 9% tax.”
All those taxes would still be there.
Like I care what you or some other Cain fan-boy thinks. Cain is anti-gun. I heard him say on his radio show that he wasn't against some restrictions. IF you're for some restrictions, then you're anti-gun. SO bite me.
If Cain could adopt Newt’s tax plan (in his new Contract with America) - we’d have perfection.
What??? I have never been to the Border either! I don't need to go to the border to know that I do not support In-State Tuition for Illegals!
Bingo!
January 2013 the Bush tax cuts expire and the trigger cuts go into effect. The only way to stop or fix these is for congress to pass something to over-ride either or both of those and I cant imagine Republicans will have a filibuster proof Senate. As Dems proved in Obama-care, the wrong majority can raise/create any tax they want.
Not only are you are you a hypocrite your are also lying. I never made any claim to endorse the 999 plan and challenge you to find where I have and don’t pull that “you implied” crap either.
Who in their right mind doesn’t want to pay less taxes? I guess its ok as long as you don’t have to pay it and people like me wind up carrying the load. How Obama of you.
“LOL because this is our best, and probably last, chance to save ourselves from total collapse. That 49% used to be just 35%, then 40%, then 45%. Pretty soon that 49% who don’t pay anything will be 51%, and if we still have this same tax system at the point, it is GAME OVER.
We minority of working suckers will forever be outnumbered at the ballot box. The tyrannical free-loading majority will keep voting for and insisting on higher and higher taxes (on us).”
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Bingo.... And that would be the poitn we live under a hard tyranny. A dictatorship of the majority over the minority. True despotism. Exactly why our society was created as a Representative Republic not a Democracy.
Evryone uses the word Democracy because the progressives halways win the battle of words. Makes me sick.
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