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Cain Economic Advisor: 9-9-9 Plan to Add $2 Trillion to GDP
CNBC ^ | 10.13.11 | Michelle Fox

Posted on 10/13/2011 6:38:03 PM PDT by casablanca

Republican presidential hopeful Herman Cain’s 9-9-9 plan will add $2 trillion to U.S. GDP, as well as create 6 million jobs, his economic advisor Rich Lowrie told Larry Kudlow Thursday.

Lowrie also said under the plan, business investments will increase by one-third and wages will go up by 10 percent.

“And if you fold all that growth together,” he said, “federal revenues go up by 15 percent.”

Cain’s 9-9-9 plan would scrap the current tax code and replace it with a 9 percent tax on personal income and corporations, as well as a new 9 percent sales tax.

(Excerpt) Read more at cnbc.com ...


TOPICS: News/Current Events
KEYWORDS: 999; bipartisan; cain; economy; growth; hermancain; knowsnato; pizza; socialists
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It will certainly spur job creation like a wildfire.
1 posted on 10/13/2011 6:38:10 PM PDT by casablanca
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To: casablanca

Im suprised he had a advisor on that as he is a businessman and mathematician


2 posted on 10/13/2011 6:39:50 PM PDT by mriguy67
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To: mriguy67

With a Master’s in Computer Science.


3 posted on 10/13/2011 6:41:21 PM PDT by casablanca
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To: casablanca

>> Republican presidential hopeful Herman Cain’s 9-9-9 plan will add $2 trillion to U.S. GDP, as well as create 6 million jobs, his economic advisor Rich Lowrie told Larry Kudlow Thursday.

I’d like to see the math worked out, please.


4 posted on 10/13/2011 6:43:45 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: casablanca
hmm...adding a new National Sales Tax that's right out of the libs playbook doesn't sound like a great idea to me.

Cain is my man but I'm pretty sure this one has zero chance.

(But, I like the numbers, and It's catchy)

5 posted on 10/13/2011 6:47:44 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: casablanca

Yay taxes


6 posted on 10/13/2011 6:47:55 PM PDT by Flavius (What hopes for victory, Gaius Crastinus? What grounds for encouragement ?)
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To: casablanca

Cain needs to scrap the national sales tax part of his plan.


7 posted on 10/13/2011 6:48:16 PM PDT by FreeReign
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To: Nervous Tick

Me too, but even if it’s only 1 trillion GDP and 2 or 3 lousy million jobs, I’ll take it!

Obama’s plans all have negative numbers in them!


8 posted on 10/13/2011 6:49:32 PM PDT by bigbob
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To: Flavius

The overall tax revenue will be neutral, until the economy blasts off. Then the tax receipts will flow like water.


9 posted on 10/13/2011 6:50:14 PM PDT by casablanca
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To: Nervous Tick

Obama did the math and he said it will not work.

That’s enough for me know 9 9 9 will work.


10 posted on 10/13/2011 6:50:49 PM PDT by factmart
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To: casablanca

The beltway ruling class are trembling at the thought of lossing tax “carve out” favors which they use to reward donating special interest groups.


11 posted on 10/13/2011 6:50:49 PM PDT by swamprebel (Where liberty dwells, there is my country.)
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To: casablanca
It will certainly spur job creation like a wildfire.

Then why does it need "economic development zones"? And why should government give tax advantages to some businesses over others?

12 posted on 10/13/2011 6:50:57 PM PDT by Hugin ("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
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To: casablanca

National sales tax is not a good idea at all. It makes all businesses and all members of transactions tax collectors for the fedguv. Having owned a business for most of my adult life I can tell you that state sales tax audits are every bit as onerous as IRS audits anf federal sales tax auditors will be able to reach unimpeded into intrastate commerce at their whim including every transaction between any two citizens. Careful what you wish for.

Secondly Herman turns social security and medicare into full fledged entitlement, read welfare., programs by funding same with 999 general revenues. Under 999 nothing will distinguish Medicare from Medicaid since both will be funded from general revenues.

Is this really where conservatives want to go?

I like Cains boldness but I think the details and unintended consequences are undesirable. Like Paul Ryan I think the best route is the simplest, most efficient least intrusive tax and that would be a flat tax without the thousands of pages of bs.


13 posted on 10/13/2011 6:51:59 PM PDT by jwalsh07 (t)
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To: FreeReign; evad

Cain needs to scrap the national sales tax part of his plan.

***

A national sales tax turns ...

1) illegal aliens
2) welfare recipients
3) Section 8 people with BMWs
4) people who pay zero income tax

... into taxPAYERS. The national income tax will likewise turn millions of other Americans into taxPAYERS.

Everybody has skin in the game. No more mobs clamoring for goodies, or tax increases on the rich.


14 posted on 10/13/2011 6:51:59 PM PDT by ROTB (Christian sin breeds enemies for the USA. If you're a Christian, stop sinning, and spread the Word..)
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To: casablanca

How will 6 million jobs be created? That’s a huge claim.


15 posted on 10/13/2011 6:52:28 PM PDT by tirednvirginia
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To: FreeReign

Absolutely not. That is the only way to get rid of the job killing taxes and to lower the corp. tax to the 9% which is what will drive the economy.


16 posted on 10/13/2011 6:52:28 PM PDT by casablanca
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To: Flavius

Yay a FAIR tax system that EVERYONE pays and the government no longer controls businesses and people via loopholes.

Yay to resetting the standard to less than 10% income tax—rewarding people for working hard.


17 posted on 10/13/2011 6:53:10 PM PDT by for-q-clinton (If at first you don't succeed keep on sucking until you do succeed)
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To: evad

Of course it has zero chance. I don’t think the legislature will let go of it’s “social engineering” using the tax code. But it is a good starting conversation. This is “out of the box” and original. Question though - a 9% sales tax and we get rid of Social Security tax? As a self-employed person I’m paying over 13% now! And if corporate tax goes from 25% or more to just 9%, won’t the cost of goods go down as well? Just wondering.


18 posted on 10/13/2011 6:53:35 PM PDT by 68stanger (If you are interested in time travel, meet me last Thursday)
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To: evad
"a new National Sales Tax that's right out of the libs playbook"

The idea of a national sales tax is not necessarily a liberal idea. In fact, most liberals consider sales taxes to be regressive as in requires a larger proportion of ones earnings to pay sales taxes the lower your wages.

Where did you get the idea that a national sales tax is a liberal idea? And where do the liberals keep their "playbook"? They seem to be just a befuddled, confused, and at cross-purposes as the conservatives these days.

19 posted on 10/13/2011 6:55:00 PM PDT by who_would_fardels_bear
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To: Hugin

two separate topics.


20 posted on 10/13/2011 6:55:00 PM PDT by casablanca
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To: factmart

>> That’s enough for me know 9 9 9 will work.

Lame. But maybe you should take advantage of one of Barky’s remedial English courses.


21 posted on 10/13/2011 6:55:00 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: swamprebel

The beltway ruling class are trembling at the thought of lossing tax “carve out” favors which they use to reward donating special interest groups.
________________________________________________________

Ding, ding ding! WINNER!


22 posted on 10/13/2011 6:56:07 PM PDT by RushIsMyTeddyBear
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To: jwalsh07

Medicaid should never be classified as an entitlement. The 9% national sales tax does not sound like a good idea to me..could it go up eventually? and how would Cain get it passed ...need 60 republicans in the senate to pass it


23 posted on 10/13/2011 6:57:33 PM PDT by katiedidit1
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To: tirednvirginia
"How will 6 million jobs be created? That’s a huge claim."

I don't know what Mr. Hewitt thinks about this, but if he agrees then it would also be a hugh claim. Not to mention series ... if he were to mention it at least once a week on his show.

24 posted on 10/13/2011 6:58:15 PM PDT by who_would_fardels_bear
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To: jwalsh07

Cool. Point me to that big pile of $$ sitting in the SS Trust Fund that was built up over the last 70 years. You mean they spent it all on general gov’t operations? BTW, Cain plans drastic free-market overhauls of both MediScare and SS.


25 posted on 10/13/2011 6:58:32 PM PDT by casablanca
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To: jwalsh07
National sales tax is not a good idea at all. It makes all businesses and all members of transactions tax collectors for the fedguv.

All busnesses already are. They report all their expenses, and collect payroll taxes.

OTOH, the chance to regain personal privacy and take power from the Feds is huge. Right now every citizen has to report all financial transactions. Imagine never filling out any tax forms, never filing taxes, no fear of IRS audits, and where it's none of the government's business how much you make, how you make it, or where you spend it! I would pay more just for that. BUT NO SALES TAX WITHOUT REPEALING INCOME TAX AT THE SAME TIME!

26 posted on 10/13/2011 6:59:35 PM PDT by Hugin ("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
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To: casablanca
Well, if he says so it must be true.

Where has this Einstein of amateur economics been hiding and why?

27 posted on 10/13/2011 6:59:51 PM PDT by behzinlea
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To: Nervous Tick

Eliminating the Capital Gains Tax and you will see everyone and their mother investing in stocks, bonds, gold and property. Economic growth like you have never seen, especially in states with no income tax ie: Texas.


28 posted on 10/13/2011 7:00:10 PM PDT by Orange1998 (Obama also inherited AAA credit rating.)
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To: Nervous Tick

As long as Cain beats Romney and Perry, who really gives a shit if 9 9 9 meets your standard?


29 posted on 10/13/2011 7:00:15 PM PDT by factmart
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To: RushIsMyTeddyBear; swamprebel

Yep. Beltway elitist supreme Karl Rove was Hannity’s first guest tonight and did his best to downplay Cain’s popularity. He and his establishment ilk are frightened out of their gourds.


30 posted on 10/13/2011 7:00:49 PM PDT by Mr. Mojo
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To: evad

The “Libs playbook” is Marx’s book. And Marx’s play on taxes is a Heavy Graduate Tax on Income...........ie WHAT WE HAVE TODAY.

Defending the current system is equal to defending Marxism.


31 posted on 10/13/2011 7:01:24 PM PDT by JohnKinAK
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To: Nervous Tick

Paul Ryan just came out with positive support for it. I think DeMint did too.


32 posted on 10/13/2011 7:01:29 PM PDT by Donnafrflorida (Thru HIM all things are possible.)
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To: casablanca

>> The overall tax revenue will be neutral

Numbers, please?


33 posted on 10/13/2011 7:01:42 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: Nervous Tick

Paul Ryan just came out with positive support for it. I think DeMint did too.


34 posted on 10/13/2011 7:01:46 PM PDT by Donnafrflorida (Thru HIM all things are possible.)
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To: factmart
"Obama did the math and he said it will not work. That’s enough for me (to) know (that) 9 9 9 will work.

Obama OKed the killing of Osama. Do you wish he hadn't? Likewise with al-Awlaki? Obama signed three free trade agreements recently. Were those bad ideas? Obama drinks beer. Is beer bad?

35 posted on 10/13/2011 7:02:19 PM PDT by who_would_fardels_bear
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To: mriguy67

“Im suprised he had a advisor on that as he is a businessman and mathematician”

Im suprised he had a advisor at all as I have been told right here on FR that Cain has no organization by some very concerned Perry supporters. I mean....what possible reason would they have to be less than truthful?

;-)


36 posted on 10/13/2011 7:02:58 PM PDT by Grunthor (Vote for the nerdy black guy!)
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To: Donnafrflorida

>> Paul Ryan just came out with positive support for it

Sorry — I don’t have much confidence in Ryan. All talk; precious little action and zero results.


37 posted on 10/13/2011 7:03:45 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: Mr. Mojo

Ugh!!! I’m soooo sick of the ‘establishment’ trying to pick out candidates!!!

AAAAAAAAArrrrrrgh!


38 posted on 10/13/2011 7:04:32 PM PDT by RushIsMyTeddyBear
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To: Nervous Tick

I like the idea of a national sales tax w no income taxes at all.


39 posted on 10/13/2011 7:05:10 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: 68stanger; ROTB; FreeReign
Libs are always coming up with new and inventive ways to confiscate more and more out of the American taxpayer. My biggest problem with it is that it will create the biggest black market opportunity you've ever seen.

I'm not in favor of giving this government one more dime, much less new ways to extort more.

As my tag says, we don't have a taxing problem, we have a spending problem.

Fix the spending problem first and THEN maybe we'll work on the tax code.

40 posted on 10/13/2011 7:06:01 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: Orange1998
"Eliminating the Capital Gains Tax and you will see everyone and their mother investing in stocks, bonds, gold and property. Economic growth like you have never seen, especially in states with no income tax ie: Texas."

Or more speculation leading to wild gyrations in the markets having an overall negative effect on markets.

Yes, lower taxes on gains made from true investments, i.e. venture capitalists who give money to start-ups, people who purchase corporate bonds, people who purchase IPO stocks, etc.

People who merely bet that a particular stock or bond or commodity will go up or down should not be taxed less on their "earnings" than those who make it through hard work.

41 posted on 10/13/2011 7:06:21 PM PDT by who_would_fardels_bear
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To: casablanca

Walter Williams is probably correct,if government is too big and spends too much, no tax reform will make any real difference.


42 posted on 10/13/2011 7:06:43 PM PDT by 7beuties
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To: casablanca
two separate topics.

Why? If it will create jobs like wildfire, why have special areas, which will mostly in big cities, that pay less than businesses elsewhere, in order to create jobs. And how is that fair?

43 posted on 10/13/2011 7:07:36 PM PDT by Hugin ("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
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To: Nervous Tick

You are kidding right.
His plans are tea party dreams.
The fact the dem. Senate wont pass it is WHO’s fault???


44 posted on 10/13/2011 7:08:07 PM PDT by Donnafrflorida (Thru HIM all things are possible.)
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To: JohnKinAK
"And Marx’s play on taxes is a Heavy Graduate Tax on Income...........ie WHAT WE HAVE TODAY."

Agreed, but that's easily fixed without adding a NEW tax especially a National tax on goods and services.

45 posted on 10/13/2011 7:09:58 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: casablanca
Cool. Point me to that big pile of $$ sitting in the SS Trust Fund that was built up over the last 70 years. You mean they spent it all on general gov’t operations? BTW, Cain plans drastic free-market overhauls of both MediScare and SS.

The hell it does. Saying the Brazilian Model numerous times does not integrate it into 999. As for the so called SS Trust Fund I never mentioned it and for good reason, it never existed and never will. I can only hope the same fate befalls a national sales tax.

But I have paid hundreds of thousands of FICA and Medicare dollars to the fedguv and unlike you I am not too sanguine about standing in the same line with deadbeats who have paid squat.

46 posted on 10/13/2011 7:10:11 PM PDT by jwalsh07 (t)
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To: casablanca

More tax receipts for the gubmint! Awesome!


47 posted on 10/13/2011 7:11:29 PM PDT by Huck (9-9-9 is a SALES tax AND a VAT -- read about it at Nat'l Review: http://tinyurl.com/3w9ak3a)
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To: Nervous Tick

Right now the incoming total tax revenue is roughly 2.2T. That is the number they used to reverse engineer the rates of Cain’s 3-tax system.

When even the liberal Bloomberg economists who scored it say it will “only raise” slightly over 2T , and the conservative Heritage Foundation scored it as increasing tax revenue by 1.5%, you KNOW their math was pretty spot on.


48 posted on 10/13/2011 7:12:06 PM PDT by casablanca
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To: casablanca

Any congress critter who fails to keep faith with the Military,WON’T keep faith with YOU!

REP CAIN WILL BE IN MEMPHIS TOMORROW

HERMAN CAIN Friday, October 14 · 11:00am - 2:00pm
Herman Cain was born in Memphis and is coming home to his roots. Please invite 10 friends to welcome the jobs creator/business growth, ‘9-9-9’ Presidential candidate to Memphis/Bartlett!
11:00 AM Central
W.J. Freeman Park Gazebo
2629 Bartlett Blvd., Bartlett, TN

It is on Stage Rd. depending which direction you are coming in, turn just before/after the RR tracks. Google Maps will give you a better look.


49 posted on 10/13/2011 7:12:12 PM PDT by GailA (Any congress critter who fails to keep faith with the Military, will NOT keep faith with YOU!)
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To: swamprebel

Wait til they start carving out exemptions and sending out prebates and other “offsets” so that the sales tax is “progressive.” And then there are the empowerment zones!


50 posted on 10/13/2011 7:12:50 PM PDT by Huck (9-9-9 is a SALES tax AND a VAT -- read about it at Nat'l Review: http://tinyurl.com/3w9ak3a)
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