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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

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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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To: factmart

>> As long as Cain beats Romney and Perry

Yeah. “As long as”.

That’s a three-word way of saying “if”. Big “if”.

Now: let me inform you as to what will *actually* happen, due to your support of Cain.

Romney will get the GOP nomination. And Barky will beat Romney. Romney is the *only* candidate Barky can defeat, because Romney is Barky-lite.

Enjoy your four more years of Barky. By supporting someone like Cain, who hearts Romney, you are helping Barky win the election.

I’ll be around to make sure you *do* enjoy Barky’s next term(and to make sure you take your ahare of *responsibility* for it).


51 posted on 10/13/2011 7:13:36 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: mriguy67
Read a report that Rich Lowrie is an accountant who has admitted he knows very little about economics.

Has Cain figured out if Lowrie is from Ohio or Texas?

52 posted on 10/13/2011 7:13:48 PM PDT by Sea Parrot (Democrats creation of the entitlement class will prove out to be their very own Frankenstein monster)
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To: Huck

Through a growing economy. Surely you think a growing GDP with low taxes is a good thing.


53 posted on 10/13/2011 7:14:13 PM PDT by casablanca
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To: who_would_fardels_bear

Good points but passive investments always had different tax rate. The 999 plan will NEVER EVER pass since many professionals make a living on the current system.


54 posted on 10/13/2011 7:16:03 PM PDT by Orange1998 (Obama also inherited AAA credit rating.)
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To: GlockThe Vote
I like the idea of a national sales tax w no income taxes at all.

Same here. Earlier in the day on FNC's Special Report panelist Steven Hayes explained that Cain's 9-9-9 is actually the 2nd part of a 3-part plan, with Part 3 being the elimination of the federal income tax and the IRS altogether, leaving only a national sales tax. (I have no idea what Part 1 is). That was the first I'd heard that, so I'll have to look into it more.

55 posted on 10/13/2011 7:16:32 PM PDT by Mr. Mojo
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To: Hugin

You live in a dream world. The bureacracy that would accompany a national sales tax would be even more onerous than the IRS as currently constituted. Not to mention the Congressional abuse in raising the sales tax on things they don’t favor, petroleum products, and lowering the sales tax on idiotic things they favor like Sancho’s windmills.

I can only assume you have never been the target of a sales tax audit by a state entity. Belive me when I say they are every bit as bad as the IRS.


56 posted on 10/13/2011 7:17:29 PM PDT by jwalsh07 (t)
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To: Huck
"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!"

Amen!

And how long before 9-9-9 becomes 10-10-10 and then 10-20-10?

Sounds like "fertilizer" to me.

57 posted on 10/13/2011 7:18:14 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: Sea Parrot

Wonder if Lowrie was a Romney supporter?


58 posted on 10/13/2011 7:18:52 PM PDT by magritte
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To: katiedidit1

Medicaid is an entitlement. Unlike Medicare where one pays in for your working life, Medicaid recipients can receive it even if they never worked a day in their life or paid in one red cent.


59 posted on 10/13/2011 7:19:50 PM PDT by Sea Parrot (Democrats creation of the entitlement class will prove out to be their very own Frankenstein monster)
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To: Nervous Tick
"because Romney is Barky-lite."

Romney IS Barky, no lite about it.

60 posted on 10/13/2011 7:20:00 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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