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.
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)
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.
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???
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).