9-9-9

[CorvallisBMW]

The independent Tax Policy Institute yesterday released their analysis of Herman Cain's "9-9-9" tax plan. The plan includes a flat 9% tax on private income, 9% tax on corporate income and 9% national sales tax.

http://news.yahoo.com/study-cain-tax-plan-raises-taxes-84-percent-205614885.html

So what does Herman Cain's tax plan mean for America? How about:

-84% of Americans will see a tax increase
-A family making $20,000/yr (i.e. living in poverty) would see their taxes go up 950% or $2700 EVERY YEAR.
-A family making $1M/yr would would see their taxes decreased by 50%, and individuals making over $1M/yr would see, on average, a $500,000 tax decrease

My taxes, in my income bracket, would go up $4,326. Awesome.

Need proof the Republicans are literally trying to steal from the poor to give to the rich? Here's your undeniable, undebatable, black-and-white proof.

I struggle to find words to describe something like this. Inexplicable? Intolerable? Deplorable? Reprehensible? No. None of those truly can describe a plan that steals money from those who can't even put food on the table and gives it to those who who have seen their real incomes go up 400% in the last 50 years while the rest of us struggle. Only one word fits that description.

EVIL.

[KenC]

Even if Cain weren't unelectable, which he is, the plan is a gimmick. Now Rick Perry, who is looking less and less electable each day, is on the flat tax bandwagon.

[e30e]

I loved how Cain said it was because people would use accounting techniques to cheat the system.....REALLY, no way!!

Truth is, for all the debt we have; even if we cut spending we still be so far upside down that we need to actually raise taxes to pay for all our government's waste full spending; too bad no candidate will tell you that.

Oh and Perry is starting to make Bush look really really normal

[mrsleeve]

Well there is a problem with your propaganda there Corvallis.


9-9-9 will not raise your fucking taxes it will lower them a FUCKING LOT.

you know the lines on your pay stub that say FICA and SSI How much did you pay into FICA and SSI last year?? GUESS FUCKING WHAT YOU DONT HAVE TO PAY THAT 13.5% anymore under 9-9-9. That will more than cover you 9% flat tax on your INCOME all by it self and then some, you will be able to control to some degre what you pay in taxes. It permotes saving your money as opposed to spending it all.


Nice try though. Really that was a good one

[herbivor]

This is why a flat tax will never happen. On the plus side, the plan would kill all the tax lobbying. What would politicians do with all that free time?

[CorvallisBMW]

Sleeve, so you're saying the Tax Policy Institute is completely, unabashedly, 100% wrong? Have you run the numbers? Have you devoted hundreds of man hours to analyzing and crunching the figures?

Don't bother answering, we all know the answer already.

[evandael]

[Ryann]

The direct taxation of an individual's wages by the Federal Gov't is illegal period. So how about 0-X-X.

[KenC]

http://mobile.bloomberg.com/news/2011-10-20/a-fair-accounting-of-cain-s-9-9-9-plan-commentary-by-laurence-kotlikoff.html

A "fair & balanced" article.

[KenC]

The direct taxation of an individual's wages by the Federal Gov't is illegal period. So how about 0-X-X.

Unless we're in a time of war, right?

[kronus]

lol

[KenC]

I remember watching interviews with Rick Perry accepting "compensation" from every corporation out there; starting with the HPV mandate.

What does this have to do with the 9/9/9 plan?

[CorvallisBMW]

http://mobile.bloomberg.com/news/201...kotlikoff.html

A "fair & balanced" article.

I don't think you can call that article "fair & balanced", it makes many substantial assumptions about income sources, contributions, retirement accounts, etc. All of which fly in the face of the TPI report.

[mrsleeve]

Well I just know that I had a 10.6k dollar tax bill last year that would have been 6400 under 999. I know that I would not have had to have paid 4+k in FICA and SSI. so there is 8200 more in my pocket that I would have had other wise. Now even if everything I buy is subjected to the 9% national sales tax, and I spend every dime I earned of my GROSS thats 900 for every 10k 9x7 is only 6300.

SO simply put 6300 + 6400 =12,700. Which is less than the 10.6k of income taxes +4k in FICA I paid last year.

14,600-12,700 = 1900 more dollars at the end of the year and the absolute bare minimum difference from the federal level it only lets you keep more the less you spend.

If you plug that into 999 After taxes last year fed and state taxes 6400(fed)+3450(state)= 9850 total income taxes. Which is less than my FED tax bill last year. So if I spent ALL THAT NET INCOME subjected to national sales tax at 900 per 10k 6x900 =5400

My total tax obligation under 999 based on last year (fed+State+Sales) would have been at max 15,250 Opposed to what it really was last year at 18,050 for Fed+State+FICA/SSI. Or I would have had an extra 233 bucks a month in my pocket to spend even if I was spending it ALL.

If I was to watch what I buy and save and invest I would not pay nearly as much of the 9% sales tax there by lowering my burden even more. An put even more money into my pocket and not in the hands of the govt.


Plug your own numbers into the system form your own w2 last year. You will come to a simialr conclusions I would bet.

[KenC]

I guess the bottom line is that it really puts a boot on the neck of the impoverished.