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To: SeekAndFind
Cain calls his tax proposals the "999 plan," because it would create three flat taxes at a rate of 9 percent. The first would be a 9 percent business tax, which would apply to a business's gross income minus investments, dividends paid to shareholders and purchases from other businesses. The second would be a 9 percent individual tax on gross income minus charitable contributions. The third would be a 9 percent national sales tax, which would pave the way to eventually transition entirely to the "fair tax," or a tax on spending rather than income. This would mean a flat tax rate for everyone, regardless of income, and it would eliminate payroll taxes and taxes on capital gains.

I am a Perry supporter but will back Cain if Perry drops out. I think he needs to be vetted because the Dems and the media will.

Cain proposes a 9 percent increase on the poorest Americans and a 24% tax cut for the richest Americans. This will be the Dem angle on this.

Cain proposes to more than double the sales tax people already pay. In Texas we have a 8.25 sales tax we will add 9% to that. So a family of 4 who lives under the poverty level will have a 9% increase to their sales tax and a 9 % increase to their income tax. While a millionaire will have a 24% decrease to their income tax.

The solution to the poorest paying the 9% sales tax will be "prebate" checks that are issued monthly to the poor to cover what they will spend in the coming month.

10 posted on 10/07/2011 9:22:53 AM PDT by normy (Don't take it personally, just take it seriously.)
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To: normy
Cain proposes a 9 percent increase on the poorest Americans and a 24% tax cut for the richest Americans. This will be the Dem angle on this.

The "poor" do NOT pay their fare share or any income tax at all for that matter. Screw'em. Kill The Poor! They are parasites on our society.(channeling Roseanne and Mikey Moron)

16 posted on 10/07/2011 9:28:55 AM PDT by Drill Thrawl (0 - 537 They ALL must go.)
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To: normy

Cain already answered that. Those poor won’t be paying SS tax and that’s the offset right there. And since the employers won’t pay it either—in theory their pay could go up.


37 posted on 10/07/2011 9:40:40 AM PDT by for-q-clinton (If at first you don't succeed keep on sucking until you do succeed)
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To: normy

The 9% replaces FICA and Medicaid so it’s nearly a wash.

More importantly it makes EVERYONE a taxpayer!

Why are we worrying about the Feds getting less revenue? Under new leadership (President and Congress) we can pass a BBA and force them to live within their means.

What’s more Conservative than that???


70 posted on 10/07/2011 10:20:04 AM PDT by GatorGirl (Herman Cain 2012)
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To: normy
Cain proposes a 9 percent increase on the poorest Americans

You should counter by explaining that currently the poorest bear a 15.3% payroll tax that will be eliminated. They will see their tax bite in each paycheck reduced, not increased.

Cain proposes to more than double the sales tax people already pay.

Counter by explaining that corporate rate reductions from over 30% to 9% will reduce the price of goods correspondingly. Also, used goods won't be taxed, lessening the impact upon lower income Americans who are less likely to buy new cars, etc.

Taxing consumption instead of income promotes saving, which is what the economy needs more than anything. For decades America has consumed more than she has produced. We'll never have an economic recovery until we reverse this trend (which the stimuloss only extended and deepened).

88 posted on 10/07/2011 10:44:47 AM PDT by Gunslingr3
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