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To: SoJoCo

Actually, this statement was made before the 9-9-9 plan.

By the way, people under the poverty level do not pay income taxes now. Under Cain’s plan they will have to pay 9% sales tax.


12 posted on 10/22/2011 2:45:00 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
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To: justsaynomore
Actually, this statement was made before the 9-9-9 plan.

And he didn't give any details on where he would cut apparently. And now we have his 9-9-9 plan which changes almost hourly. Who knows how much revenue it will actually generate, and how much in cuts will be needed to actually balance the budget when he's done tinkering with it?

15 posted on 10/22/2011 2:51:40 PM PDT by SoJoCo
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To: justsaynomore

Someone reminded us of this the other day:

Under our current system, approx. 22% of the sales price of goods is hidden taxes.

So under the current system, people under the poverty level DO pay taxes on purchases, but that tax is hidden.

Under Cain’s proposal, that hidden tax is supposed to go away (mostly).

So instead of the 22% hidden tax, they would be paying a 9% visible sales tax.

Somebody posted a good online calculator for this stuff the other day. Unfortunately I didn’t bookmark it, so I can’t find it now. :-(


51 posted on 10/22/2011 4:04:15 PM PDT by BagCamAddict (Order 15 Herman Cain Yard Signs for $130: https://store.hermancain.com/orderform.asp?pid=20)
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