Posted on 10/11/2011 8:18:29 PM PDT by Fred
There was one clear winner from Tuesday's Republican presidential debate, based on the simple metrics of name recognition: businessman Herman Cain's "9-9-9 Plan."
Virtually all the candidates at the debate table had something to say about Cain's plan to replace the tax code with three, flat nine-percent federal taxes on consumption, business and income. Cain, once delegated to the remote wings of the debate stage, has enjoyed a surge in the polls ever since he won the straw poll in Orlando, Fla., last month, and at the first debate since he joined former Massachusetts Gov. Mitt Romney and Texas Gov. Rick Perry in the top tier, Cain and his policy proposals took up more of the debate's time than the ideas floated by any other candidate.
Of course, this isn't to say that any of them praised Cain's idea. Far from it. In fact, everyone who had an opportunity took shots at the plan.
(Excerpt) Read more at news.yahoo.com ...
No, I support the repeal of the 16th Amendment and the naturally resulting shrinking of the federal government to a size that can live on what we collect in tarrifs and interstate fees. If that is not what is going to happen, then I support somebody other than the one who is promoting a NATIONAL SALES TAX!
Bachman’s sound bite that if you turn 999 upside down, the devil’s hand is in it was laughable. She, Santorum and the other guy just need to drop out.
Yes he is proposing a flat income tax. One where everybody pays including the 50% that don't pay now. So nationally that nets a yield of 18% compared to the existing system.
More revenue in at less cost for those who already pay taxes. The ones that don't will bitch about it. Of course there's Huntsman's plan, whoever he is.
The plan that Perry has stated so far is:
Balanced budget amendment
Become energy independent (which is very possible)
Abolish unneeded regulation on business
My Opinion - it would transfom the economy
...NOT
That 6-6-6 comment was just bone head dumb!
Once again, what's to prevent a future congress from raising the current income tax rates, corporate tax rates and capital gains tax rates to 90%? Please think about it for a minute. There is a lot more to this than 9% being added to your bill at the store. If corporate taxes are lowered 26% then prices will fall drastically. If the loopholes are gone then fair competition will cause prices to fall even further. If income taxes are lowered to 9% then taxpayers will have more money to spend. If income taxes and capital gains taxes are lowered to 9% then businesses will grow, expand, export and pay more employees more money. It's not a 9% increase in prices, it's a 20%-30% decrease.
Advance,
By your logic any plan will fail (short of an unlikely constitutional amendment) because the Dems can just raise the rates.
However, Cain’s plan has the advantage of everyone having some skin in the game. I am frankly tired of being a producer for all the entitled users who suck at the government teat.
that’s because you don’t take 9-9-9 seriously.
What’s wrong with replacing 5 tax codes (and revenue streams) with one flat one? Do you realize all the drug dealers now would be paying 9% at least?
It would capture the underground economy, and lower us “working” folks taxes.
all I am asking, is take a look, and think about the plan. investigate the details. What would 9% flat do for corporate? For one thing GE now would pay hundreds of millions where today they pay 0. And “unpopular” businesses that haven’t bought off the crook politicians would go from 39% to 9%, which would be 7% lower than Canada’s business flat tax.
Think.
Supposition
I’m surprised that no one has voiced concern over what I consider to be a show-stopper with Cain’s plan: “Empowerment Zones”.
What appears to be just another “All animals are equal, except some animals are more equal than others”, Cain’s plan suggests straight-forward “one size fits all” tax rates, nut then he says that folks living in “Empowerment Zones” get special consideration.
Back to the drawing board.
Great. We've found common ground. I think most conservatives would be on board with that, I know I would. It is an admirable long term goal and one I support. The only problem is it will never get through the required number of states or Congress in this election cycle, or the next. In the mean time let's get rid of the monster enslaving us and find something that is at least honest, if not perfect.
That is my fear...during the debate when asked, Cain said he as Pres. wouldn’t allow raising of the rate. Well, what about when he is not pres...his voice seemed to trail off as if he realized the weakness...I agreed with Bachmann that a VAT tax would be next step and dems are drooling for that :(
The tax code might be a tempest in a tea pot, compared to congressional spending. I don’t like a regressive, progressive tax anymore than the next person, but spending more than we take in by upwards of 40 percent, is the problem first and foremost, and the only way to get control is to cut cut cut. Things the elderly would like, things farmers and ranchers want, things business men would like, things environmentalists would like, and on and on and on till all participate in the pain, and we arrive back where the founders began.
I think a lot of Herman Cain is over the heads of some of the candidates. You know what they say, there are none so blind as those who will not see. I have every confidence that the brilliant Mr. Cain has dotted all his i’s and crossed all of his t’s.
When have politicians EVER not tampered with taxes. First thing they'll do is add an exemption to the "poor" because it's not "fair" that the "poor" have to pay a national tax on food. Politicians cannot be trusted.
All we have to do is make sure we elect a super majority of very conservative people in both houses. If that happens, along with a Republican president, they'll start doing the things to the tax code we need, like no dividend tax, death tax, bring back foreign corporate money etc.
Look what Europe's VAT tax has done for them. I should say TO them.
I really doubt very much that Mr. Cain is a one issue candidate. His values are peerless. His conduct calm and sure. He is a thinker. One has to be a thinker to be a fixer. Mr. Cain is a fixer. And boy! Does Washington ever need fixing!
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