Posted on 10/13/2011 6:16:07 PM PDT by mdittmar
Uh, maybe that's because the investment money has already had taxes paid on it......
“...kids having to file a tax return because they made $200 shoveling snow for the neighbors...”
A better solution is that they pay $18 and and pocket $182 and that way they learn to hate taxes just like grown-ups.
Typical Corp zombie think. It sounds good so therefore it has to be good. the “little” people will buy it, that’s all that matters. So what if after they buy it, they find out it is a mirage? sorry no refunds after 30 days.
Notice how quiet the unions are right now.
So, the bottom 50% would finally have “skin in the game,” as Barry the Class Warfare blowhard likes to say.
Boo hoo.
Yes! because paying more for product makes me want to buy stuff!/s
I personally think taxing food is a bad idea (we don't tax it in CA but some states do), some in the press suggest food and medicine would be taxed, but on his website presently there's not enough detail to know whether those items would be included or what mitigation there would be for low or fixed income situations. That's coming according to his chief economic advisor.
One of the "savings" is 9-9-9 will eliminating considerable levels of hidden taxation that you already pay in prices. This is why Cain makes the point critics are making assumptions based on circumstances in place under the existing tax code.
Ultimately Cain sees 9-9-9 as a gateway to the "Fair Tax" which is a national sales tax only. Such proposals often have a "prebate" system to address low and fixed income situations.
It’s to bad businesses have to be the tax collectors and incur the expense which they then hide the costs of accounting in pricing. Flat taxing would make things a bit easier and cheaper to account for.
Better the States collect taxes and the Federal Government collect from the States and isolate citizens from Federal over-site.
Amazon just doesn’t want to be bothered with accounting and responsibility for sending in tax payments.
Walmart (with their own prescription plans) and Amazon shows that even with all the government controls and regulations (not counting individual State bureaucracy) that consumers can look toward private enterprise for decent pricing.
yah...meaning the “poor” would actually be paying taxes for the first time ever.
We have the most affluent “poor” in the Country. Go down to your local Goodwill and get to know some of the handicapped people who are working full time. I have two different home improvement stores here locally that have severely disabled people working there, (amputees if you must know) full time, and doing one hell of a good job. It sickens me to see the miscreants of the world getting the attention because they are supposedly “poor” even though they miss no meals, have I-pods, PCs, facebook pages, cell phones...you name it.
There are certainly poor people in the Country that are deserving of some help, but as Rush Limbaugh has been telling us for years, too many make a hammock out of the safety net, and OWS is the natural result.
“Lots of reitired people dont pay payroll tax because they arent working, they are living off Soicial Security, investments, maybe withdrawling from IRAs and 401Ks. A lot dont have enough income to owe much in taxes after deductions. Under Cains plan they pay 18%, including 9% on money they already paid income tax on.”
1. Retirees have taken a BATH on their stock market investments over the last few years. An invigorated economy would get these people off dog food.
2. We’re already paying more than the 9% sales tax in imbedded and hidden taxes. That is a large part of the retail price. But cutting out the vast majority of these taxes, the retail prices of items go DOWN and the 9% sales tax will either keep prices the same or actually make items cost a little less.
3. In a thriving economy, charitable giving increases. programs like Angelfood Ministries or Meals on Wheels will get more cash to help the poor.
Poor people will not suffer.
Trust me, it’s better to be poor in a thriving economy than a dying one.
You noticed that too. The story changes to suit the purpose...
See my post #91.
My mother is on SS. I don’t want our elderly to be in a bad spot. I want them happy and retired and taken care of.
999 will NOT hurt the elderly. Quite the opposite.
You are already paying far more than 9% in hidden taxes that are imbedded in the retail price. Your new item purchases should be about the same. (It’ll probably take a couple of months to kick in, but the prices will drop.)
The other thing to realize: If we do nothing and try to maintain the status quo, the system will collapse and eventually there will be nothing for any of us. We must implement a plan that is close to this or we be seriously screwed. We can’t continue as we have been.
I have no idea if your SS will be taxed. I can’t see congress passing a bill that doesn’t at least exempt the first $20,000. Do you? The out cry would be deafening.
That’s why we can’t sit back on our laurels and just trust *anybody* to do the right thing. We’ve got to stay on top of them the whole way.
Yes you can't have people voting who have no skin in the game...otherwise they will always vote for more welfare...not for what's best for the country....
I am not for both a flat tax and a sales tax. One or the other.
If people really want to get more from ‘the rich’ you need the sales tax. They buy quite a lot, it’s the only way to get at someone like Buffet’s ‘wealth’, not interest income.
Sales tax would be a lot easier too because you’d pay it immediately, no need to file any federal taxes. All the IRS has to do is pare down and just manage incoming sales tax monies.
Yes we do have the most affluent poor in the world...even the homeless have cell phones...there are millions of people around the world who'd love to live in American poverty...
I agree. If there would be an exemption with a national sales tax it should be age related. There is a difference in having an incentive to improve your skillset and work efforts at a working age and penalizing the retired and elderly living on fixed incomes. Maybe an exemption over 65 for the first 25K but not for younger working age. We need to stop encouraging people to keep their incomes under a certain limit to avoid taxation...that's what led to 50% of Americans paying no federal income tax at all....the incentive for working Americans should be to earn and produce more not less....
The progressive wet dream...
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