Posted on 10/21/2011 12:29:30 PM PDT by Evil Slayer
Republican presidential candidate Herman Cain said on Friday that poor Americans will not have to pay the 9 percent flat income tax under his now-famous “9-9-9” tax reform plan.
During a speech in front of a vacant train depot in Detroit, the former Godfather’s Pizza CEO staunchly defended his signature tax proposal from critics who say it will raise taxes for lower-income Americans.
Cain’s plan would throw out the current tax system in favor of a 9 percent corporate tax, a 9 percent income tax and a new 9 percent national sales tax.
He said Friday that poor people under his plan would be exempt from paying the income tax.
“If you’re at or below the poverty level, your plan isn’t 9-9-9,” Cain said. “It’s 9-0-9.”
The former pizza executive also unveiled his proposal on Friday for “opportunity zones” to help “renew distressed inner cities.” His proposal includes offering tax exemptions to businesses that invest in these zones.
(Excerpt) Read more at dailycaller.com ...
I thought that was going to drop from 15 % to 9
Cain ha sbeen saying the people won’t be paying the 15% payroll tax. Actually people pay 7.65% the employer pays the other 7.65%!
Yep.
I agree, a flat tax IS the answer; however, first the states are going to have to vote to repeal the 16th amendment.
The 9% natl sales tax is the great equalizer.
I like the 9-9-9 plan.
I don’t know why he surrendered to the liberal media.
He should just exempt natural food(fruit, grains, beans, vegetables and meat) and housing and he would kill all the criticism about hurting the poor.
If Cain was really smart, he would replace the sales tax with a 9% tariff, and start taxing foreign capital instead of domestic consumption.
They are still paying the sales tax.
That is more than they pay now.
The simple flat tax is preferable to this bureaucratic monstrosity. Cain needs to say he would sign a flat tax if Congress passed it.
The “opportunity zones” are nonsense. “Spread YOUR jobs around” to places like Detroit. Nothing conservative about it, federal laws should apply to everyone and everywhere equally. having states beg annually some federal bureaucracy for a zone is asinine.
You are correct and this 9-9-9 plan, which now appears to have many different variants, is just a damned GIMMICK; a gimmick that far too many have fallen for!
Agreed. I don't know why our guys fold like a cheap suit whenever the drivebys say "Boo!". This business of half the country not paying any income tax must change or the counry's done.
He’s just making this crap up as he goes along. By the time the primaries roll around God knows what the 9-9-9 plan will look like.
Cain needs to support a flat tax.
It’s the spending, stupid! And out of control government! Concentrate on cutting the spending, eliminating unconstitutional government departments, agencies and programs, slash the bureaucratic red tape, set our people free to produce and let the free economy soar!! Taxes will come down and we can flatten the rates once we get the spending and the abusive socialist government under control and OFF OUR BACKS!!
They still have the sales tax.
Self-employed pay the whole payroll tax.
The employer doesn't PAY anything. That is a part of the employee's salary. Self employed folks pay the entire 15%.
Cain will cut spending.
HC: First, you do an across-the-board cut, if they have not done it already by the time I get to the White House. For example, you say that we’re going to cut the spending of every federal agency across the board. Then you do your vertical cuts. This is where I would sit with each of my cabinet secretaries, who will have to be approved by the Senate, and do a deep dive into every agency looking for whole programs to eliminate. We’re not going to be able to cut federal spending seriously, and make a dent in the national debt, if we don’t cut whole programs.
And I believe those programs are there. A guy we met in Iowa studied federal grants, and he says that coming out of Washington’s 1,000 federal grant programs, only 19 of them are block grants. Nineteen! Are you going to tell me we can’t find some programs in there that ought to be terminated? I think we can, but the only way we get to that point is to do what we call vertical budget cutting.
It can’t be that you let the permanent bureaucratic staff bring you all of these hurt old people and puppy dog programs and say we can’t cut them, and then you’ve got all the other programs that should have been gone a long time ago, and they hide in the budgets. I did the same thing when I went to Godfather’s. I did the same thing when I went to Burger King. It’s called active budget-cutting, not just passive budget-cutting.
http://www.northstarwriters.com/2011/01/14/interview-herman-cain-seeks-to-be-a-peoples-president/
He has certainly bungled this 999 plan.
Yes, it appears so. Damn, I really wanted to hang my hat on him.
C'mon Herman, you can't keep changing the plan every few days. The Dems are going to make mincemeat out of you.
This plan ADDS A NEW FEDERAL TAX; not to mention get rid of all deductions such as charitable ones and mortgage interest.
It lowers the Fed bit on income tax ( for many ), lowers the cap gains tax ( which Cain has NO idea about anyway ), but since everyone will NOT have to pay the same, the plan is a fraud; a lie sold to the gullible .
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