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 ...
Herman Cain lives in a naive fantasy world where there is no Opposition Party and no hostile biased crooked media.
This is the result of having never, for one day, held elective office.
No, Cain's plan simply means a 9% federal tax on everything you buy. You will be paying 19% total not because of Cain, but because CA has an outrageously high 10% sales tax. Neither Cain nor any president can do anything about that.
What are you saying?
Second, you cannot tell me what so ever that our CURRENT taxes will not go to 75% or 95%. Everything is subject to change in the future, and there is really very little point in talking about what might or might not happen in the future.
Third, as I said in my post, I was not making this personal — I was talking about what is right and what is wrong, not about any one individual’s financial situation. It is right that everyone pays something towards the benefits that are provided by our government.
Fourth, if you have a leg that was blown off serving, then (a) most importantly, THANK YOU for your service, and (b) that means tax dollars paid for your salary, medical, and pension, and (c) the income of other people paid for your salary, medical, and pension.
Fifth, are you saying that some people in this country should not have to pay taxes to cover Military salary, medical, and pensions?
Sixth, if my family cannot support themselves where they are currently living, then YES, there would be no choice but to move them “cross country” to live with me, and we would all support each other. In doing so, it would cost all of one plane ticket and the cost of a few pieces of luggage. Everything else that they owned would be sold in the state they live in now, and we would end up paying for only one roof over all of our heads, one set of utility bills, and one grocery bill. Yes, it would be crowded in the house, but so what? Where in the Bill of Rights does it say we are all entitled to live in our own separate houses? If we can't afford separate houses, then we can't afford separate houses.
Seventh, if you have 3 kids, what is stopping you all from living in one big house with the kids and the mother in law and sharing all the expenses? It's what we did in college because we were poor, it's what my family did (moved in with my Grandparents) when my parents were poor, and what families did in the Depression.
Again, I'm not trying to argue specific cases here. I'm saying that this entire country is spoiled rotten, and nobody is willing to make the hard decisions necessary to live within their budget. There is so much social “value” placed on what possessions everyone has, it is ridiculous.
What it does is reward behaviors detrimental to wealth creation.
It progressively rachets up the taxes you pay as you make more money. This is a disincentive to working harder and making more, as opposed to doing more with less.
It puts 50 percent of the people paying no taxes at all, and there’s simply no way that will go on.
The good thing about 9-9-9, is that it lowers the barriers. It eliminates progressive income taxation. No longer do you have to worry about working harder and making less money. This is a huge step in the right direction.
Under the current system, when you buy a good or service, the tax burden of everyone involved in producing it is embedded in the final price. Just like if you have a job, the money that you pay in taxes comes from the people who buy your product. If you didn't have to pay taxes, you would charge a lower price for your product.
When the program is fully implimented, list prices will go down so that the final price you pay to get out the door (price + tax) will equal the same price as you would pay under the old system.
Not all of the market adjustments would happen instantly, certain effects would occur quickly and taper off, others would build up slowly. Addaptive mechanism like a prebate can be employed to ease negative impact during the transition period while maintaining the positive effects.
Who is Herman Cain? A business genius who understands how economics and finance work. He has used that genius along with his leadership skills to correct the problems of every business he has been in charge of.
Speaking of winning elections how would Romney debate Obama-care with Obama?
In Perry’s case how can he win Republicans vote when he told us we have no heart for opposing tax money send illegals to college ? (technically he is using the Romney excuse about his state vs feds)
So it’s not like the others are easy winners.
Obviously patience is not one of your virtues. No need to post the same comment more than once!
They conveniently skip the 6.5% SS tax your employer is paying for you. That is an additional $3250 which now means you save $500. Liberals usually only pick and use the numbers they like when making an argument.
Cain's plan has flaws but at least it gets the conversation going as this thread has proved. F**knuts like you just don't like the rules of the game unless its neatly wrapped up in their own personal little Al Gore lockbox.
I'm sick of paying higher taxes so other people don't have to.
lol
I don’t get a salary, thus I pay no tax.
Ah we’re screwed every way it seems.
Peace.
I’m not going to defend myself any more. I get that you’re upset and I’m sorry that I misunderstood you and added to your distress.
No more personal attacks.
Right. They are all meatheads to some extent or another. Romney being a rock head. I think Cain is easily defeated on 999. The economy is the central issue.
Perry is less than perfect, but he does have an economic track record in one of the largest states and he does understand exactly how the feds sink state and local economies. He despises it. His economic plan could be called the tenth amendment - giving power back to the state and cutting federal spending through cutting it’s scope of work. The less details during a campaign, the better. Learn from Obama.
If you don't know why, you should seek help. Seriously.
Certainly nothing wrong with that.
That's what I'm seeing, too.
Yes, many of us will lose deductions. Deductions are a game we've played because that's the system we had to live with. But all deductions are is the government picking winners and losers. Home buyers are winners; renters are losers. Parents of minor children are winners; empty nesters & infertile couples who can't afford adoption are losers. Etc. It's just as wrong when it's private citizens as it is when it's GE.
Amazing ain’t it?
I had a feeling Perry is what you were really getting at.
I am not convinced that Perry is anymore electable than Cain, look at his recent performance. He thought Republicans would sympathize with him when he called the others heartless over Dream Act. He doesn't even know enough to have a national plan ready to propose and debate.
Perry's brother GWB got reelected with a huge give-away to seniors : medicare drugs as with No-Child-Left-behind but it didnt keep voters happy for long.
I would give Perry a second look if he gives a public ‘read my lips’ speech promising no ‘path to legalization’ for anyone illegally in this country under any circumstances.
What has he done with his life to make anyone thing he would be a good Pres?
http://www.freerepublic.com/focus/f-news/2791141/posts?page=24#24
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