classical_hero
In whom I trust
Well this is not a post a link and click forum. We need the plan without having to click on a link to see what it is.
Cain's 9/9/9 plan
- Thread starter Archbob
- Start date
Well this is not a post a link and click forum. We need the plan without having to click on a link to see what it is.
Bestbank Tiger
Deity
Some highly intelligent analysis there.
Cain has a bachelor's in mathematics and a master's in computer science. He has served successfully in three executive positions in the business world and was a regional Fed chairman. Please share your credentials so we can see what gives you standing to call him a joke.
Of course, your idea of a non-joke is probably a homophobic Goldman Sachs puppet who gave us trillion dollar deficits, 9% unemployment, and a mandate to crawl to Wellpoint for the right to see a doctor.
GenMarshall
High Elven ISB Capt & Ghost Agent
This proposal shall not pass!!! Bring in the American Jobs Act!!
Ajidica
High Quality Person
- Joined
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- 22,482
Strangely, amadeus and I are in complete agreement about the plan, although for vastly different reasons.
And that means what?
He has no experiance in the legal realm or in any other area that would suit him as an executive because the government is not a business and should not be run like a business because it has vastly different goals and responsibilities.
He isn't a joke, but a very bad candidate. Santorum is a joke though.
Luckymoose
The World is Mine
The 9/9/9 plan is a flat tax rate plan and that is all you need to know about it.
ParkCungHee
Deity
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- 12,921
I'm glad Cain has taken political tutoring from Lee Myung-Bak. Financial plans based around 3 recognizable numbers are always a good idea.
timtofly
One Day
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Are we against a "flat" tax? I know a flat tax is great. I believe it will not work though.
I can only recognize one of them, makes it even easier for me.
Archbob
Ancient CFC Guardian
I'd be all for a nationalized sales tax with exemptions on food.
GenMarshall
High Elven ISB Capt & Ghost Agent
At 9%!!! You're insane!!!
aimeeandbeatles
watermelon
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Where I live it's about 15%. I hardly notice it unless I'm a few pennies short.
Archbob
Ancient CFC Guardian
Its a lot less than the income and S.S. taxes I pay. Of course, it sucks for people who don't pay any taxes currently. I'd be willing to take a 25% or maybe even slightly higher nationalized sales tax if they would trash all other federal and state taxes excluding state sales tax of course.
Cheezy the Wiz
Socialist In A Hurry
Sales tax is a regressive tax. It disproportionately hurts the poor. Cain's plan is ludicrous, it reads like a high school sophomore came up with it "cause it sounds like a sweet plan bro, it totally makes sense."
Archbob
Ancient CFC Guardian
You just exempt food then from the tax and tax the luxury items like big-screen TV's higher.
I don't see why we'd want to do this if it was revenue neutral, since it completely shifts taxation burdens onto people making less money. The only way this could possibily be justified is if it generated *more* revenue.
Archbob
Ancient CFC Guardian
It would depend on what % the sales tax is. Sales tax is much harder to escape and get out of than income tax. Business taxes contribute to like 1% of our revenues right now. Under this plan, they would probably contribute more.
timtofly
One Day
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What is the national average of the sales tax now? It would be ok if the state sales tax is eliminated. It is still taking the states money and making it federal. If the Fed handed the money back according to what each State took in, it may work.
I thought most people pay a sales tax anyways, and it does not say the State tax (sales) would be eliminated. If this is a replacement of the sales tax in place now, then go for it.
It does not put a burden on the poor. They do not have that purchasing power to begin with. If anything it is the lottery and luxury items that are "taxing" the poor. That and debt extend to the middle class. Credit is in the tank anyways, because the fed (credit) is so low, it has not been able to revive the economy properly.
@ downtown
You already have to pay sales tax if that "business" is liscensed to sell in that state even if online. You do not have to pay if they are not licensed. I am sure that if the Fed became involved every company would have to be licensed on a Fed level to collect the sales tax.
I thought most people pay a sales tax anyways, and it does not say the State tax (sales) would be eliminated. If this is a replacement of the sales tax in place now, then go for it.
It does not put a burden on the poor. They do not have that purchasing power to begin with. If anything it is the lottery and luxury items that are "taxing" the poor. That and debt extend to the middle class. Credit is in the tank anyways, because the fed (credit) is so low, it has not been able to revive the economy properly.
@ downtown
You already have to pay sales tax if that "business" is liscensed to sell in that state even if online. You do not have to pay if they are not licensed. I am sure that if the Fed became involved every company would have to be licensed on a Fed level to collect the sales tax.
Because the poor have low purchasing power, a higher percentage of their income goes towards day-to-day living essentials, most of which is subject to a sales tax even if you exempt food and medicine. The rich, on the other hand, spend less of their money buying essential goods and services and can afford to save and invest more. Sales taxes are regressive pretty much any way you look at it.
That's why I think FairTax people are off their rockers. The original FairTax proposal, by the way, imposes a sales tax of 30% on most products [they claim 23%, but they're not calculating it the way we normally calculate sales tax rates]. It also contains a piddling rebate that's barely worth mentioning.
Cain's plan, overall, is regressive - he combines a flat income tax with a regressive sales tax, leading to a regressive taxation scheme. And if he's intending to use it as a stepping stone to the FairTax, then I'm even less impressed.
civver_764
Deity
So Cain wants to tax poor people more while simultaneously cutting off their means of subsistence.
