Posted on 10/29/2011 6:46:57 AM PDT by Hojczyk
But Cain’s proposal is so very much more important. Perry will nibble around the edges, freeing valuable hours from tax preparation to be available for wealth creation. But Herman Cain would establish America as a beacon for investors, entrepreneurs, inventors, creative business people, and all manner of upwardly mobile, ambitious men and women. He would give the U.S. the lowest personal and corporate tax rates in the world, and the only place where investment earnings are tax free. To trivialize Cain’s big idea by comparing to to Perry’s small one is a vast disservice. Perry would not reduce the amount of money taken in by income and corporate profit taxation. He would just shift it to shorter forms and a nominally lower rate (but not really lower). Taxes would appear to be cut, but the amount we would have to pay would be more or less the same. He even strives to have his program seen as revenue neutral.
Cain would shift about half of our nation’s tax revenues to consumption taxes and away from income taxes. He would vastly reduce the disincentive to earn and encourage savings and investment by taxing spending.
It is not enough to undo the damage Obama has done to the economy by repealing his spending, taxing, health care, and regulatory actions. All that will do is dial us back to the sick economy Bush bequeathed to America. The diseases of the first decade of the 21st Century will still be with us. But Cain’s ideas really get at the heart of the problem — in much the same way that Reagan’s reducing of the top personal tax rate from 70% to 28% solved the stagflation of the 70s.
Cain’s reforms are the real deal. Perry’s are a pale imitation.
(Excerpt) Read more at dickmorris.com ...
F the Cato institute...Newts plan is better than Perrys and so is Cains.
no
Thank you and yes we are.
No.
Simply do it yourself, using your own income and situation. Then tell me how having a choice to sue the Perry plain or staying with the existing plan hurts you. And then you tell me how the Cain 9-9-9 plan helps anyone but the very rich. But no, I am not going to publish my figures. My income, holdings, family size, deductions etc are none of yours or anyone else on FR's business.
As for doing what you said regarding comparing my own situation, I have already done it. I make out better under Cain. That's why I asked you to post some other data, because I would like to see an example of how Perry's plan works better for someone.
All of this is irrelevant. Any plan that is proposed is going to be better for some and “worse” for others. We can post contradicting examples all day long. That's why I don't really care how it affects any one individual. I care which one is better for the Country.
You can do a simple analysis. Take a family of four making the median U.S. salary of $49,500. Under current U.S. taxes, with standard deductions and exemptions, that family owes around $2,600 in income taxes but pays nothing because of the child tax credit and other credits. Under Perry’s plan with a $12,500 deduction per person, that family pays no income taxes. Under Cain’s plan, that family pays $4,455 in income taxes. This is just the income tax portion of their plans.
I totally agree with that!!
I am not going to give you the information you want, so please stop asking and trying to justify your request.
I don’t know how you come out better under Cains’s plan than you do Perry’s but I am not going to ask for your details, so please show me the same courtesy.
Lordy, I did stop asking. I used the word “asked” - past tense. I didn’t “keep asking.”
Sheesh.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.