What Could Cain’s 9-9-9 Plan Mean For You?

ABC News ^ | 10/13/11 | Ben Forer

[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.

[TomGuy]

What is wrong with less revenue? Just means government has to CUT which is the biggest problem we have anyway. Cain already plans to CUT.

Cut?

Congress still has NOT cut the $100 billion the Republicans promised pre-election.

Every recent economic bill adds spending NOW but kicks the pay-for [cuts] into next year or next presidential term or next decade.

==

Of course, we have spending problem. That should be addressed FIRST. Cain's 999 fails to address it.

[manc]

cracks me up when people like Marie think that everyone has money like others.

When you have an old woman who cannot even afford to feed herself or even pay half of her meds then this 999, could hurt her which is why I ma waiting if Cain has some way to stop this extra 9% to not go up.

It is amazing how so many want taxes cut but then we have an extra tax which might go to 15%, maybe even 25% and then those same people have no problem because they want a certain person to win.

I will vote for Cain as out of the 3 he is the best but to be honest this catchy plan and slogan troubles me a lot.

We can go on about how this will go down or this will go up but it is an extra tax with no way of knowing if the left or the right might increase it in the future .

The fact is that he needs to be more elaborate over this.

How does this affect someone on SS and cannot afford half of their food and meds?
Does this take away all deductions?
Does this have a way of never going up in the future?
Does this plan tax SS on top of what she buys like food at 9%
Then on top of that does this 9
5 go on the state tax which in some states is already 8%

personally I like the flat tax from what I know.

[SaraJohnson]

But like I’ve said before, it may not be the best plan, but it’s a start, and it gets people talking and thinking about what our other options might be.

---

You are right, ofcouse, about the Nation looking at replacing the current, corrupt tax code. But during this election, Mr. Cain locked himself and us into 999.

[SaraJohnson]

We are trying to get rid of loopholes in tax reform.

[montyspython]

So all the bellyaching about not everyone paying their fair share is not applicable here? Are you saying your son is not paying his fair share?

[Melas]

Agreed. It hasn’t gotten traction yet, but the 999 plan is going to sink Cain unless he modifies or drops it. The alternative Democratic plan codenamed “soak the rich” is at least built around the knowledge that the rich are a tiny portion of the electorate.

[NavyCanDo]

“999 won’t even get out of committee.”

I agree. Like the plan or not, a change like this to our all too established tax system doesn’t just happen like that. I don’t think we should be overly afraid of a plan that if it did get approved would look much different than what Cain first proposed.

I don’t know enough about the plan to make comment on it, but my fear is Cain is playing all his chips on numbers 999. If it doesn’t gain in popularity he will not last long in the top spot.

[perfect_rovian_storm]

I love southerners. I reserve my true intolerance for corrupt, phony politicians. Oh and for people too imbecilic to know the difference between “you’re” and “your”.

[DTxAg]

If you get a paycheck from an employer, then your employer pays half of your payroll taxes behind the scenes. It’s part of your pay that’s hidden from you in the current system. This tax goes away under the 9-9-9 plan, so the money will start showing up in your paycheck (yes, your paycheck amount will go up under the 9-9-9 plan by 7.65%).

Incorrect. Under 9-9-9, payroll is no longer a business deduction, so your employer will pay 9% of your salary as a corporate tax unless you're in an empowerment zone.

When doing your calculations for your current income, don’t forget that the payroll tax (which is 15.3%) will be eliminated under the 9-9-9 plan. Consequently, the maximum tax increase anyone at the low end of the income scale might see under the 9-9-9 plan is a mere 1.89%.

You assume businesses will give a payraise of 15.3%, even though payroll is taxed under the Cain plan at 9%. Not likely.

[justsaynomore]

The Fair Tax has researched the embedded tax that people pay and never see when they buy an item and have put that into the HR25 bill. The hidden tax is average of 22% of the cost of an item.

[sickoflibs]

RE :”This is exactly the problem we face with a candidate who has made his campaign foundation 999. Americans are mathematically challenged and do not hear nor understand the reasons behind conservative economics. They don’t even know what the constitution says and means anymore.
Cain’s 999 plan will easily be turned against Cain by Obama’s caculators. It is too complicated to argue in the typical campaign sound bites.”

I cant argue with that given Republicans record on messaging. They are no Walter Williams.

But right now looking at the field of duds Cain looks the most interesting and most 'real' and genuine to me.

And I would make a heretical point : Personally I would rather have someone real like Cain go against Obama and lose(if it comes to that ) , then be a part of putting a slimy RINO phony like Romney in the WH on lies and BS. Few believed McCain's flip-flops.

[SaraJohnson]

The left will lie. Running a campaign based on the public understanding mathematics is a great territory for leftist lying in sound bites.

[Beagle8U]

POINT IT OUT IN HIS PLAN. Enough spin, point it out or stop saying it.

[montyspython]

Perry, taxing Americans so illegals can live fee.

[manc]

Are you poor?
Have you ever been poor or married someone who works for a good wage?

You seem unable to grasp and seem to have a go at others even calling them out as not conservatives because they do not go with your view.

Think about it before you post

If a woman is 70 plus , lost her husband only has a few hundred to live on then you have no problem seeing millions like this woman have to give more money to Govt.

I’ve been with the rich and the poor and seen both sides so think about both sides before you rush around saying to others they are not conservative because they do not want an extra 95 tax which has no way of knowing it can go up to 30% in the future

To say how about we get less people poor and the old can make more money, ARF

[justsaynomore]

“You assume businesses will give a pay raise of 15.3%, even though payroll is taxed under the Cain plan at 9%. Not likely.”

The 7.65% employer pays ON BEHALF of the employee is considered part of an employee’s compensation. Anyone who runs a business knows this.

[justsaynomore]

Manc, I explained in detail last night how your mom wouldn’t be hurt as presented in your scenario, and you seemed to agree. Now you are here with these same numbers, starting all over again.

[jgge]

LOL… great post :)