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If you make less than $17,400 you currently pay 10% Federal tax. You get to deduct dependents and your mortgage.
Cain is going to offer these people a 1% reduction in taxes with NO deductions and then charge them 9% on everything they purchase
Meanwhile he offers wealthy Americans a 24% reduction in their tax rate
What a screw job...You call that FAIR?
Cains 9% sales tax would be on top of whatever sales tax you currently pay. For me it would mean a 16% sales tax.
Don't think it will be too popular once people figure out what 9-9-9 really means
I don't think it will be either. The effective tax rate on the lower and middle class would go up significantly not only in regards to "income tax" (the first 9%) but also by adding the National Sales Tax.
This plan would place a huge burden on low income people and the middle class. The total amounts that they pay would still not come close to that paid by the upper class, but the effective rate would be an outrageous burden on the lower classes.
I suspect there could be items that were not taxed such as food and clothing, but that won't alleviate the problem and once again you will open the doors for Congress to insert loopholes that benefit certain people.
Immie
Good point;
I got this off of Wikipedia:
Will that go down to 9 cents under 9-9-9?The United States federal excise tax on gasoline, as of February 2011, is 18.4 cents per gallon (4.86 ¢/L) and 24.4 cents per gallon (6.45 ¢/L) for diesel fuel.
Good point;
I got this off of Wikipedia:
Will that go down to 9 cents under 9-9-9?
No, it won't replace those.
Would you be able to tell me if it will add 9 cents (per dollar I suppose) to a gallon of gasoline? Or 9 cents to a gallon of diesel? Or 9 cents per dollar to my cable bill?
What is his position on internet purchases? Will they still be free of most sales taxes?
Why so dense? You know that money that's always missing when you get your paycheck? Yea the taxes. Well under Cain, that missing money will return to your check. Essentially offsetting the 9% sales tax. In fact you will most likely come out ahead by far with the exception of new car or new home purchases. And how many poor people buy NEW houses or cars?
Your outrage is completely comical.
No taxes are charged for used car or used house purchases? Interesting.
Not sure on the 9-9-9 plan, but "The Fair Tax" was written so that the tax was only charged on purchases of new products so that the purchase of a used car or second hand home would not have paid taxes except for on the commission i.e. the charge to the real estate broker.
Immie
If you make less than $17,400 you currently pay 10% Federal tax. You get to deduct dependents and your mortgage.
Cain is going to offer these people a 1% reduction in taxes with NO deductions and then charge them 9% on everything they purchase
Meanwhile he offers wealthy Americans a 24% reduction in their tax rate
What a screw job...You call that FAIR?
No taxes are charged for used car or used house purchases? Interesting.
Not sure on the 9-9-9 plan, but "The Fair Tax" was written so that the tax was only charged on purchases of new products so that the purchase of a used car or second hand home would not have paid taxes except for on the commission i.e. the charge to the real estate broker.
Immie
Just on the face of it; doesn't it seem like there would be this giant incubator of shenanigans? I mean, I can see where your realtor/buyer or car dealer would have someone spend 1 night in the house prior to your buying it so it would be used or put 50 miles on the car so you can save what will be an outrageous amount ($27,000 on a new house listing for $300,000 and $2700 on a $30,000 car).
If you make less than $17,400 you currently pay 10% Federal tax. You get to deduct dependents and your mortgage.
Cain is going to offer these people a 1% reduction in taxes with NO deductions and then charge them 9% on everything they purchase
Meanwhile he offers wealthy Americans a 24% reduction in their tax rate
What a screw job...You call that FAIR?
Do I consider it fair? Actually yes, I do. However, I would not support the plan in its purest form. As I stated in my op I believe we MUST institute triggers to protect the truly poor from falling into abject poverty.
But as usual most of the left ignores my thoughts about how it could work and just jumps on the hate bandwagon.
Not sure on the 9-9-9 plan, but "The Fair Tax" was written so that the tax was only charged on purchases of new products so that the purchase of a used car or second hand home would not have paid taxes except for on the commission i.e. the charge to the real estate broker.
Immie
Just on the face of it; doesn't it seem like there would be this giant incubator of shenanigans? I mean, I can see where your realtor/buyer or car dealer would have someone spend 1 night in the house prior to your buying it so it would be used or put 50 miles on the car so you can save what will be an outrageous amount ($27,000 on a new house listing for $300,000 and $2700 on a $30,000 car).
No, it wouldn't work that way. The way it is written is such that the tax would only be charged on the first sale of the item not on whether or not the item was used.
I suppose you might find someone selling the house for one night, but I truly doubt they could get away with that and if you actually hand over the deed "for one night" you would likely find out that the "buyer" won't sign it back over to you the next morning. Also, renting it for one night or renting out a car for one day would not effect a sale. The buyer would simply have to pay the tax on the cost of the rental.
Immie
Get off your fucking soap box. This forum is nothing but arguments over what others think. So my ideas are no less important than your grandiose opinions.If you make less than $17,400 you currently pay 10% Federal tax. You get to deduct dependents and your mortgage.
Cain is going to offer these people a 1% reduction in taxes with NO deductions and then charge them 9% on everything they purchase
Meanwhile he offers wealthy Americans a 24% reduction in their tax rate
What a screw job...You call that FAIR?
Do I consider it fair? Actually yes, I do. However, I would not support the plan in its purest form. As I stated in my op I believe we MUST institute triggers to protect the truly poor from falling into abject poverty.
But as usual most of the left ignores my thoughts about how it could work and just jumps on the hate bandwagon.
With all due respect...who cares what you propose?
It is not on the table now. Cains 9-9-9 is on the table and the rightwing is fawning over it. At a time when the poorest Americans are struggling for jobs and losing the American dream, Conservatives are threatening to raise their taxes.
Meanwhile, the wealthiest Americans who have seen their percentage of wealth grow significantly over the last 30 years receive a 24% tax cut
3%
Remember that? A measly 3%
That is what Obama wanted to raise the tax rate on those making over $1 million a year. The Republicans locked up government and threatened to default on our loans......all over 3 lousy percent
Now they have the gall to offer millionaires a 24% tax cut while raising taxes on the poorest Americans?
3%
Remember that? A measly 3%
That is what Obama wanted to raise the tax rate on those making over $1 million a year. The Republicans locked up government and threatened to default on our loans......all over 3 lousy percent
Now they have the gall to offer millionaires a 24% tax cut while raising taxes on the poorest Americans?
It's now 5% and it matters not as that 5% isn't enough to do jack shit. Nothing will come of a 5% increase except for congresses ability to waste even more of our money.
A large cut however could and in my opinion would spur growth in both the economy and job growth.
So..... Yea.....
First lets start off by admiting the obvious.......... Cain actually has a plan. For better or for worse he has a plan. What do the others have?
Obama has a nifty slogan, Hate the.... er I mean tax the rich.
Romney has a plan, or as many could say a maze of confusion.
Perry to my knowledge still thinks he is in first place and doesnt need a plan beyond drilling for oil.
Bachmann hate Obamacare (great plan) but very shallow
Huntsman is a lib pretending to be a Republican.
Paul has crazy followers that think he is Obiwan Kenobi
Newt has lots of ideas that will never be heard.
Santorum just wants everyone to join the angry bus.
Now back to Cains plan....
First of all I believe it is a pretty solid plan and even if you dont believe it is, it could easily be tweaked to work. Of course we would need a Senate that actually does their job and not just table ideas they disagree with rather than debating them and offering counter solutions.
1. A limit or trigger point, if you will, could be instituted on income levels to protect the poorest among us.
2. Food could be exempt from the sales tax portion.
3. Money made in the black market would eventually produce taxes when it was eventually spent on non black market goods. Thus taxing money that otherwise slips below the radar.
4. The actual tax amount could and would be debated to what is deemed a fair amount.
5. Perscription medication could be exempt.
6. Corperations that currently dodge taxes would pay just like the rest of us.
7. The class envy war would be nullified because other than the poor everyone would pay based on their ability not their status.
People once insisted the Earth was flat and their were others that believed the sun orbited the Earth. When someone opposed those ideas they were laughed at. Who gets the last laugh now?
Our tax system is fucked beyond complicated. Why not work with ideas when they are presented? Simply raising taxes solves nothing other than to raise anymosity to new levels.
I dont have any idea if his plan is worked to the point that it is as good as it can be and neither do any of you. He has stated that in the next couple of weeks he will be releasing more information on the breadth of his plan. Point is lets try to make the system better rather than just look for the next partisan talking point.
3%
Remember that? A measly 3%
That is what Obama wanted to raise the tax rate on those making over $1 million a year. The Republicans locked up government and threatened to default on our loans......all over 3 lousy percent
Now they have the gall to offer millionaires a 24% tax cut while raising taxes on the poorest Americans?
It's now 5% and it matters not as that 5% isn't enough to do jack shit. Nothing will come of a 5% increase except for congresses ability to waste even more of our money.
A large cut however could and in my opinion would spur growth in both the economy and job growth.
So..... Yea.....
Spur growth in the economy and job growth....
Still trying to sell that trickle down snake oil?
3%
Remember that? A measly 3%
That is what Obama wanted to raise the tax rate on those making over $1 million a year. The Republicans locked up government and threatened to default on our loans......all over 3 lousy percent
Now they have the gall to offer millionaires a 24% tax cut while raising taxes on the poorest Americans?
It's now 5% and it matters not as that 5% isn't enough to do jack shit. Nothing will come of a 5% increase except for congresses ability to waste even more of our money.
A large cut however could and in my opinion would spur growth in both the economy and job growth.
So..... Yea.....
First lets start off by admiting the obvious.......... Cain actually has a plan. For better or for worse he has a plan. What do the others have?
Obama has a nifty slogan, Hate the.... er I mean tax the rich.
Romney has a plan, or as many could say a maze of confusion.
Perry to my knowledge still thinks he is in first place and doesnt need a plan beyond drilling for oil.
Bachmann hate Obamacare (great plan) but very shallow
Huntsman is a lib pretending to be a Republican.
Paul has crazy followers that think he is Obiwan Kenobi
Newt has lots of ideas that will never be heard.
Santorum just wants everyone to join the angry bus.
Now back to Cains plan....
First of all I believe it is a pretty solid plan and even if you dont believe it is, it could easily be tweaked to work. Of course we would need a Senate that actually does their job and not just table ideas they disagree with rather than debating them and offering counter solutions.
1. A limit or trigger point, if you will, could be instituted on income levels to protect the poorest among us.
2. Food could be exempt from the sales tax portion.
3. Money made in the black market would eventually produce taxes when it was eventually spent on non black market goods. Thus taxing money that otherwise slips below the radar.
4. The actual tax amount could and would be debated to what is deemed a fair amount.
5. Perscription medication could be exempt.
6. Corperations that currently dodge taxes would pay just like the rest of us.
7. The class envy war would be nullified because other than the poor everyone would pay based on their ability not their status.
People once insisted the Earth was flat and their were others that believed the sun orbited the Earth. When someone opposed those ideas they were laughed at. Who gets the last laugh now?
Our tax system is fucked beyond complicated. Why not work with ideas when they are presented? Simply raising taxes solves nothing other than to raise anymosity to new levels.
I dont have any idea if his plan is worked to the point that it is as good as it can be and neither do any of you. He has stated that in the next couple of weeks he will be releasing more information on the breadth of his plan. Point is lets try to make the system better rather than just look for the next partisan talking point.
I am all for tax reform, but the one question that I have is the 9% consumption tax, would that be on top of state and local taxes? My state sales tax is at 7.4% would that mean that total sales taxes would be at 15.4 %? Some states don't have a sales tax, but others do. I like the idea, but want more information on it. I have always supported a flat tax, if you make a dollar you pay 10% if you make a million you pay 10%.
If you make less than $17,400 you currently pay 10% Federal tax. You get to deduct dependents and your mortgage.
Cain is going to offer these people a 1% reduction in taxes with NO deductions and then charge them 9% on everything they purchase
Meanwhile he offers wealthy Americans a 24% reduction in their tax rate
What a screw job...You call that FAIR?
Do I consider it fair? Actually yes, I do. However, I would not support the plan in its purest form. As I stated in my op I believe we MUST institute triggers to protect the truly poor from falling into abject poverty.
But as usual most of the left ignores my thoughts about how it could work and just jumps on the hate bandwagon.
With all due respect...who cares what you propose?
It is not on the table now. Cains 9-9-9 is on the table and the rightwing is fawning over it. At a time when the poorest Americans are struggling for jobs and losing the American dream, Conservatives are threatening to raise their taxes.
Meanwhile, the wealthiest Americans who have seen their percentage of wealth grow significantly over the last 30 years receive a 24% tax cut
3%
Remember that? A measly 3%
That is what Obama wanted to raise the tax rate on those making over $1 million a year. The Republicans locked up government and threatened to default on our loans......all over 3 lousy percent
Now they have the gall to offer millionaires a 24% tax cut while raising taxes on the poorest Americans?
It's now 5% and it matters not as that 5% isn't enough to do jack shit. Nothing will come of a 5% increase except for congresses ability to waste even more of our money.
A large cut however could and in my opinion would spur growth in both the economy and job growth.
So..... Yea.....
Cain's comments about creating "empowerment" zones with a 3-3-3 standard for them sounds like a closet liberal or typical black politician looking out for "his people."
After he talked up a 3-3-3 standard for the inner city, he needs to get lost. Just another typical black politician putting black people above every other American....
