Cain’s ‘9-9-9’ tax plan hits poor, helps wealthy, experts say

The Bangor Daily News ^ | Oct. 13, 2011 | JODI ANN FERRIS,Michael A. Fletcher,The Washington Post

[aruanan]

Cain’s ‘9-9-9’ tax plan hits poor, helps wealthy, experts say

Cain's plan treats all earners in American society more equally, levels the playing field, gets everyone to have "skin in the game," calls on all to shoulder some of the burden of the society which benefits all.

[NoDRodee]

“Meanwhile, analysts said the 9-9-9 part of Cain’s vision would place a further burden on those hit hardest by the nation’s economic problems.”

That’s the key to Cain 9-9-9, it’s a total reverse of how people look at things today, others want to help those impacted by economic problems, Cain plan is to fix the fix the economic problems so people will not be impacted.

[editor-surveyor]

Taxes should be only on what is real ‘income,’ not on funds removed from savings, or on inflation based ‘gains.’

[ROTB]

” People like Warren Buffet are investors, and they get their income from dividends, and they are taxed lightly for this at 15%. “

Uh, maybe that’s because the investment money has already had taxes paid on it......

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See! That’s why I need you guys!!!

[Oatka]

As an SS recipent with very little outside income and very little chance of any, the 999 plan does disturb me somewhat.
With my income, 9% would make it my largest expense outside rent and food. Then, adding 9% sales tax on all purchases would mean an effective increase of more than 14%.
Where is the savings for the millions of people just like me?

I'm in the same boat, but will go along with 999. The flat tax on corporations does away with the "one hand washes the other" current business tax deductions in exchange for campaign contributions and frees up money for R&D and jobs. It takes that power away from the pols, so I am willing to take a hit.

[DesertGOP]

“People at the top end pay 20 or 21 percent in income and payroll taxes now,” he said. “This plan zeroes out their payroll tax and suddenly their tax is down to 9 percent. Then, like everyone else, they pay 9 percent on what they spend. But the rich don’t spend everything they earn.”

Uh, Yeah! The “rich” usually are INVESTING the money they aren’t spending, anyway. After all, it’s the same folks who are creating and running small-and-medium-sized businesses—the greater portion or source of available jobs in the U.S. right now, so what’s the hangup with the “rich” not “spending everything they earn?” Seriously!

[terycarl]

We’ve donated some 10 billion to the “poor” over the past 30 years ...where does it get us???

10 billion wouldn't pay the interest on the TRILLIONS of dollars that we have spent on those who simply refuse to participate in the opportunities that this country affords. Our problem is that we continue to support the same "underprivilaged" that we supported when I was a kid (I'm 73)...if you keep giving and giving to generation after generation, you destroy their incentive to get off the gift list. The Democrat party has put the minorities back on the plantation. they were there for them in the 1800's and they are there again...yassah mastah

[SunkenCiv]

...would stick many poor and middle-class people with a hefty tax increase while cutting taxes for those at the top, tax analysts say. The plan would do away with much of the current tax code and impose a 9 percent personal income tax, a 9 percent business tax and a 9 percent national sales tax, which tax experts say would mean that low- and middle-income Americans would pay more.

Thanks mdittmar.

Thanks Vintage Freeper for posting this:

[TheOldLady]

Low and middle-income Americans may realize what is in their own interest if they have to pay instead of getting a free ride.

They may begin to see how dearly they're paying for that "free" ride.

No one who does not pay taxes should be allowed to vote because they always vote to roast the golden goose.