Posted on 10/17/2011 11:08:56 AM PDT by RockyMtnMan
>> “The kids in NYC are morons being led by professional radicals , they don’t even know that much” <<
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And they’re grossly over paid at $21/hour.
I appreciate your report, but you make lots of hard-to-accept assumptions about Cain, and I wonder if you can direct me to Cain’s actual words on the subject, so I can weigh for myself.
Apparently this means you too.
Hence, post to me in a condescending fashion that, because I don't support Rick Perry for President, I don't know what I'm talking about, that he is a patriot simply because he knows it's popular to appear to be a supporter of the Second Amendment (or whatever), then that poster will get that assertion shoved right down his or her throat.
I will not support this glad-handing, pandering, back-slapping empty-suit huckster for the Republican nomination for President under any circumstances.
>> “I don’t see an answer to the question: Is Social Security taxed?, either.” <<
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SS recepients spend essentially all of their receipts, so obviously it is taxed at 9% under this silly proposal.
Cain needs to lose this albatross quickly, or it will kill his candidacy.
I know. Where do they get off calling it a VAT? It isn’t even close.
I agree about the noob, but we do need to find a way to get Cain to drop this 999 loser before the general election.
Yes, that is for State sales tax. But that doesn’t answer the question wrt 999.
Many people here are saying that the 999 plan taxes all sales inside the production chain eg. the bread maker pays 9% tax to the flour maker and the flour maker pay 9% tax on his purchases from the farmer etc... I want confirmation that the 9% sales tax applies only at point of retail, and only on new goods (and not inside the production chain where producers buy materials to make other products such as the VAT tax does).
He could update his website to say something straightforward like “9% sales tax only applies to the retail sales of finished product to end users” or something that is explicit and definitive. I am pretty sure that it only taxes retail sales of new goods, but I think he needs to say it better.
The 999 crap is not ever going to make it through congress anyway, so why take all the flak for a useless decoration?
Yes, I am in Cain’s camp by default; there is nowhere else to go, so I’ll do all I can to make him viable.
999 isn’t his plan anyway; its been around since the early ‘80s in SIM City.
>> “Many people here are saying that the 999 plan taxes all sales inside the production chain” <<
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That is an assumption based on typical congressional behavior, not an actual stated feature of Cain’s version of 999.
>> “this may make accounting jobs hard to find if they get rid of the IRS” <<
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Don’t take down your shingle yet.
How about Professional consultants? They’ll be fighting to show that most of their contracts consist of expenses, like labor, and other secondary professional consultation expenses, and thus we’ll have an IRS type agency anyway for the consumption tax.
9% income tax - helps middle class, upper class
9% corporate tax - helps upper class, exec. bonuses
9% sales tax - hurts lower class (essentials), middle class (please, may I put another coal on the fire?), and the upper class (Botox diet!)
Presumptive BONUS: This will create Jobs.
Presumptive REALITY: Corporations are absolutely drowning in cash and NOT hiring today, as it is.
Furthermor, as soon as the spigot turns off at the Federal Reserve, bond prices are going to go into freefall. Add that sales tax on top of rampant inflation, and that’s ballgame.
Money is absolutely DIRT CHEAP. That should tell all of you something about what the problem is. It’s not corporate taxes. It’s the Federal Reserve.
This plan will not address the underlying cancers in the economy:
1) Government spending
2) The Federal Reserve
Excellent post...the wife and I are nearing retirement and any plan with a national sales tax is a "non-starter" for us. Our income/saving were fully taxed at about 14% federal and about 38% total (all state, local, federal taxes) and now as we are planning several large purchases (truck/RV) 9-9-9 & "Fair" Tax are proposing large sales taxes!! (In addition to our current 8% state sales taxes) Start talking about tax reduction and government cuts and then we can talk about tax reform ie. a 10-15% flat tax.
401k's are not tax-free, they are only tax deferred.
Your money that you draw out of your 401K will be taxed, wouldn't you like it at the lower 9% rate? It wasn't taxed when you put it in the 401k, because they are going to tax it when you withdraw it. 401k's are not tax-free, they are only tax deferred. All of the retirement accounts will have taxes collected upon withdrawal.
The more I see of this 999 proposal, the less I like it. Even if it is stipulated, that it would be good for the country, it seems that it would also be a political disaster for him. He would be killed by the Democrats.
>> “He would be killed by the Democrats” <<
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Precisely, and for nothing, since there is no visible path through congress for it.
Are you going to have room in your RV for your kids and grandchildren if they are jobless and homeless?
>> “wouldn’t you like it at the lower 9% rate?” <<
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I think you mean at the 9% +9% +9% rate?
The minimum would be 18% if the third 9% tax was not on income or consumption.
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