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A simple question about the 999 plan.

Posted on 10/18/2011 1:36:16 PM PDT by TLittlefella

Cain’s 999 Individual Flat Tax of 9% removes all
payroll taxes and unites all tax payers

What constitutes payroll taxes?
Will the Federal Income withholding tax be removed?
Will the Social Security withholding tax be removed?
Will the Medicare withholding tax be removed?

Are all those taxes considered payroll taxes?


TOPICS: Politics/Elections
KEYWORDS: 999; cain

1 posted on 10/18/2011 1:36:24 PM PDT by TLittlefella
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To: TLittlefella

Federal tax withholding - no (but lowered to reflect 9% rate)
SS and Medicare - yes (that is what offsets much of the bite for sales tax, for lower income earners).


2 posted on 10/18/2011 1:39:08 PM PDT by Tandem (What ever happened to personal responsibility & self-reliance?)
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To: TLittlefella

“Payroll Taxes” are Social Security and Medicare.


3 posted on 10/18/2011 1:39:23 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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To: TLittlefella

Like a lot of legislation, they’ll have to pass it before you can find out that you’re screwed.


4 posted on 10/18/2011 1:40:11 PM PDT by ex-snook ("above all things, truth beareth away the victory")
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To: TLittlefella
Social Security and Medicare taxes are the payroll taxes. I would expect that the 9% income tax would still be withheld from paychecks, especially since it is so easy to calculate and doesn't change based on how much the victim...er, taxpayer would make.
5 posted on 10/18/2011 1:40:20 PM PDT by KarlInOhio (Compare "Delay is preferable to error" - Thomas Jefferson // "Pass this bill now!" - Barack Obama)
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To: TLittlefella

Yes, in the current lingo, payroll taxes include SS & Medicare. The 999 tax is to replace those payroll taxes as well as the Federal Withholding Tax.


6 posted on 10/18/2011 1:40:50 PM PDT by Bearshouse
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To: TLittlefella; Brookhaven

This is a job for http://nerds4cain.com via brookhaven


7 posted on 10/18/2011 1:44:11 PM PDT by Fred (But we are never going to survive unless we get a little crazy)
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To: ex-snook

Putting a national sales tax into Nancy Pelosi’s hands is like handing a can of gasoline to an arsonist. The next thing you know Herman Cain’s 9-9-9 plan will morph into 19-19-19.


8 posted on 10/18/2011 1:47:52 PM PDT by pkajj
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To: ex-snook

Putting a national sales tax into Nancy Pelosi’s hands is like handing a can of gasoline to an arsonist. The next thing you know Herman Cain’s 9-9-9 plan will morph into 19-19-19.


9 posted on 10/18/2011 1:49:22 PM PDT by pkajj
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To: ex-snook

Man that’s the truth. 9-9-9 will quickly become 20-20-20.


10 posted on 10/18/2011 1:54:45 PM PDT by Sudetenland (There can be no freedom without God--What man gives, man can take away.)
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To: pkajj

Hah! beat you by 1-1-1. :)


11 posted on 10/18/2011 1:55:54 PM PDT by Sudetenland (There can be no freedom without God--What man gives, man can take away.)
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To: Tandem
SS and Medicare - yes (that is what offsets much of the bite for sales tax, for lower income earners).

So does SS just officially become a welfare program rather than, in theory, being its own separate retirement account?

Also, why does Cain assume if he eliminated the employer paid contribution to Social Security that this money would go to employees in the form of salary/benefits? Some might, over time perhaps most will since it is part of corporate payroll budgets - but there is no guarantee of that at all. Unless pressed to do so, many employers would just treat that as a tax cut and be in no hurry to add that amount to employee salary/benefits.

12 posted on 10/18/2011 1:56:47 PM PDT by Longbow1969
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To: TLittlefella
What constitutes payroll taxes?

Social Security deductions
Medicare deductions
Union Dues

13 posted on 10/18/2011 2:02:00 PM PDT by umgud
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To: TLittlefella

So far my simple questions has yielded conflicting answers, so once again I ask these simple questions:

What constitutes payroll taxes?
Will the Federal Income withholding tax be removed?
Will the Social Security withholding tax be removed?
Will the Medicare withholding tax be removed?

Are all those taxes considered payroll taxes?


14 posted on 10/18/2011 2:11:07 PM PDT by TLittlefella
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To: pkajj
But it is OK to put federal income tax in Pelosi's hand? And it is OK to put death tax in Pelosi's hand? Also it is OK to put Social Security tax (already increased 23 times since inception) in Pelosi's hand? And how about putting capital gains tax in Pelosi's hand? And how about giving her free hand to suck my dividends which have already been taxed twice before I get the checks?

Amazing you are mainly worried about the sales tax, which is printed on every sales receipt as a percentage and total, but you are blase about all the other taxes I listed, none of which are printed as a percentage on your paycheck, or your dividend checks and are thus invisible to the masses.

15 posted on 10/18/2011 2:11:33 PM PDT by federal__reserve (Economy on life support needs a revolutionary tax plan, not fiddle around the edges!)
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To: Sudetenland

Barbra Streisand! see my post below in blue letters.


16 posted on 10/18/2011 2:13:11 PM PDT by federal__reserve (Economy on life support needs a revolutionary tax plan, not fiddle around the edges!)
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To: TLittlefella

Everything is removed. You pay a one-time 9% flat tax.


17 posted on 10/18/2011 2:18:38 PM PDT by Marie (Cain 9s Have Teeth)
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To: TLittlefella

Here’s your simple answer:

You ONLY pay a 9% flat tax. All the other crap is gone.


18 posted on 10/18/2011 2:20:52 PM PDT by Marie (Cain 9s Have Teeth)
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To: TLittlefella

You will only pay 9% in federal withholding the rest goes away except for state withholding.


19 posted on 10/18/2011 2:24:30 PM PDT by chris_bdba
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To: federal__reserve

The national sales tax is one more playtoy in the Democrat’s arsenal. I support a consumption tax in theory. But in the hands of Washington politicians addicted to spending, it would quickly spin out of control.

The Steve Forbes approach from a decade ago is far more plausible: Single flat rate of 17%, while preserving deductions for home mortgage and charitable contributions. If Cain would sign on to something along those lines, his stock would skyrocket far beyond what it already has.


20 posted on 10/18/2011 2:27:17 PM PDT by pkajj
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To: pkajj

No because if we can pass this it will be passed with the requirement that it needs 2/3’s to change the law to make it higher.I like the plan 9% is less than what is with held for us weekly.


21 posted on 10/18/2011 2:27:29 PM PDT by chris_bdba
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To: Longbow1969

It isn’t it’s own separate retirement account now so how would this change? The collection is separate but it goes into the general fund and then benefits are paid out.


22 posted on 10/18/2011 2:29:22 PM PDT by chris_bdba
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To: Marie

I believe we have an echo in here.....;)


23 posted on 10/18/2011 2:30:51 PM PDT by chris_bdba
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To: pkajj

Your “Single flat rate of 17%” would quickly spin out of control and become 97%!


24 posted on 10/18/2011 2:45:30 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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To: pkajj

I also have no problem with a flat tax on income. I was simply disputing the straw man argument that sales tax is dangerous in Pelosi’s hands. Every freaking tax is dangerous in Pelosi’s hand!

My point is sales tax is the most visible tax which people see every time they buy anything. Ask 10 friends and family of yours what is the percent tax they pay on income, social security, medicare, and sales tax at the stores. You will be surprised at the results. Being the most visible tax, sales tax is the hardest for politicians to sneak through. My wife will not shop in a nearby mall because their sales tax is 0.25% higher than our town. But she has no idea what we pay each year in percentage terms to IRS.


25 posted on 10/18/2011 2:51:37 PM PDT by federal__reserve (Economy on life support needs a revolutionary tax plan, not fiddle around the edges!)
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To: pkajj

The next thing you know Herman Cain’s 9-9-9 plan will morph into 19-19-19.


And because ALL Americans will be TAXPAYERS, all those who voted for it can be assured of losing their jobs, and the proper rates restored.

THIS is the beauty of the 999 plan (or any national sales tax tied to the other taxes): it makes even low-income liberal voters into spending hawks.


26 posted on 10/18/2011 2:56:53 PM PDT by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
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