Do you support Herman Cain's "999" tax plan (9% corporate tax + 9% flat personal income tax + 9% national sales tax)?
my sales tax is at 8.5 % already. He wants put jack it up to 17.5% . forget about buying a car
ilovekfc- ... ummm.... uhhhh.... huh?
Stupid Republicans ITS ALREADY BAD ENOUGH WE HAVE TO PAY TAXES
9-9-9 is a good idea. I'm good with a flat tax too though. I just know we need to hit the reset button because this system stinks... too many ways for people to get out of it and it's too complicated for people to see how much we waste.
Jessie74- That was a very racist and bigoted statement. Not to mention, there was no point to it...
How did he become a CEO??
He's such an idiot.
Must have been affirmative action.
The Cain train is going off the tracks. Better hurry up and jump off.
Oh, I keep forgetting, you have no experience in the real world... sorry.
veritas- It is no more theory than your statement... Actually, it has a better foundation in reality.
9 9 9 worked pretty well in sim city
$2 TRILLION of our debt is the Bush Tax cuts. They increased after-tax income for the richest Americans by 7%!!!! (fun fact: the bottom 29% saw only a .1% increase.) THE RESULT: 9% unemployment.
So let's try this again!
@Archamedes. That's not a fact. That's a theory.
FACT- 9-9-9 will raise the income, as well as the real purchasing power of that 84%.
Sure this will raise taxes for 84%. It is because that 84% pays next to nothing in taxes now. Everyone needs to start ponying up around here and stop begging for the handouts.
FACT: 9-9-9 will raise taxes for 84% of Americans.
Really, that's the only fact I need to form my opinion of this plan
9-9-9 was the default tax plan of the Sims video game.
Let's now apply this to the most complex financial system the world has ever seen.
in a minute rather than a year, you have failed to consider the effect dropping half of your payroll tax.
akdad- just on the surface (skipping the complex stuff)... Any business model based on a $5,000 annual profit will fail. However assuming that you are considering this as a repetitive profit with no limit on how many times it can repeat...
If it took me 95000 dollar in supplies to make 100000 dollars the 9 9 9 would tax me 27% 27,000 dollars and I can't right off my expenses making it a net loss of 22,000 dollars. How dose that work for small business
now if you want to maximize efficiency and power, we could make it affordable to build nuclear plants. Unfortunately your liberal won't allow you to grasp the serious problem with alternate energy and the benefits of nuclear power.
@skeptisys- Really? Electric cars are the competition? Electric cars have been around since the late 1800's, so how far have we come? And you completely ignore the fact that our power grid can't support everyone driving an electric car. We already purchase electricity from Canada to power some areas
However, examining this plan... I like it, not only for it's short term effects but also it's potential for allowing us to limit govt in the future.
While '999' sounds pretty simple, the effects are quite complex going from stimulative to behavioral, and yes some suppressive. I normally am strongly opposed to introducing any new tax.
It seems to me that those who are commenting in opposition to this are engaged in two dimensional thinking... It seems that there are too many moving parts to this proposal and it's effects for them to grasp it's benefits.
@Comments- I agree. It's kind of why I like this question.
independent vote is the only telling stat on this one
…to lower costs which will then hopefully be passed on to consumers. How is that a better method of giving back to the consumer than directly handing them a check? Lol. I don't think so.
@rosebud. Your logic is a bit convoluted. Cutting income tax directly gives consumers more money (what Obama has done). Cutting corporate taxes (which Obama has done especially for small business) is based in the unbanked hope that they will lower costs which will then hopeful compel the venders…
@rosebud. Savings are rarely ever passed down to consumers. Virtually every consumer market is controlled by a handful of companies. If they get more money in tax breaks and together hold a monopoly of the market, you think they're gonna pass it down? I think not.
Mobil excon made record profits, paid its CEO half billon while paying no federal income taxes and blocking their main competition, electric cars
They charge what maximizes profit. If you charge $100 for a widget but only 1 will be sold or $50 that 50 will be sold, the $50 price will maximize profits, assuming low COGS.
Skeptisys- then why did gas prices recently go down?
Econ 101 also shows you that if you have a lower price than the competitor you sell more. And can make more $$.
Companies do not pass savings to people. They charge as much as they can to maximize profits. That's Econ 101.
Because that would help the middle class and poor. By, oh, almost 10%.
Skept and Veritas- was the reduction of corporate taxes factored in? Because the savings in taxes the companies have would be passed down in savings to us... Meaning we'd pay less.
Or was that overlooked?
@rosebud is it the majority? And how about Cain wanting to raise everyone's taxes (except the richer of course. He has to help them…middle class and poor…no so much. In fact he is hurting them).
@skeptysis. They hate the person who has repeatedly LOWERED their taxes (Obama) but LOVE the pizza guy who wants to raise their taxes! The hipocracy is laughable.
Nein nein nein !!!
9% corporate tax with no loop holes, yes! 9% income tax with limited deduction yes! NO SALES tax! Your taxing me twice!
The right wing brookings institute just published their study on the 999. It will significantly raise takes for everybody but the top 10%. Now republicans support a black man who wants to raise their taxes. Lol!
And the message is that middle class is doing it to themselves.... They WILL be poor if they continue the illogical way of living. It defies the very feeling that you get when you know you shouldnt.
Rich ppl live within their means. Poor ppl obviously haven't. Middle class is ppl that are overextended living above their paygrade. Should they be allowed to get tax breaks so they can continue the imminent demise. Should the rich be taxed more b/c they had the discipline to work/school/invest ?
in defense of us 'so-called' "rich": I just had my wife gold-plated and I can't afford new slaves for my mansion. don't talk hardship to me, bud. (btw, my old slaves are ugly)
rosebud- Don't listen to their 'hard work doesn't pay off' message... Indeed it is the only thing that does. They also have a skewed definition of of 'Rich' that seems to only have room for a monetary value.
Veritas- not all are, just like not all poor are. Starting next month we will have a full paycheck of expendable income. As poor people. It's in all areas.
And how is the money being given to the rich from the poor?
@rosebud Speaking of fairness, Any thoughts about Cain wanting to take more money from the middle and lower classes so that he can give it to the richest Americans? People call socialism ridiculous, this is the OPPOSITE of socialism. He is purposely taking money from the poor to give to the rich.
@rosebud 1) Are you saying the vast majority if rich people are living paycheck to paycheck? 2) even if that were true, they are not spending simply to make ends meet (Like you and your husband are right now), it is discretionary.
In Virginia, the sales tax is 5% and income tax is simply unconstitutional. I'm all in favor of a new president, but this plan isn't going to work...
9 pc sales tax is a national sales tax correct? So...if I live in Tennessee I will pay an 18.75 pc sales tax...(I got in an argument with someone who says it means every state will have a 9 pc sales tax...she's an idiot anyway)
Most mega rich massively save their money. What you are talking about probably isn't the top 1 or even 5 pc
Veritas- I know people who moved into mansions at the edge of town and can't even buy furniture because they can't afford the house. They ARE living paycheck to paycheck. Being rich doesn't exempt you from stupidity.