9-9-9

[E30Kaiser]

Do you pay something similar to capital gains tax under the 9-9-9 deal? Specifically when selling stocks.

[joshh]

Do you pay something similar to capital gains tax under the 9-9-9 deal? Specifically when selling stocks.

It doesn't seem to cover that.

[Victell]

So move to a state that dose not charge a sales tax

Or just move to a country that doesnt charge any taxes at all?

[E30Kaiser]

It doesn't seem to cover that.

I am sure people will point that out and the whole "rich get richer" montra, even though most 401ks and other retirement options are built with stocks. I don't see why you should pay taxes on something you bought when you decide to sell it.

Then again most of the problem with this comes from people flipping stocks quickly, not holding them for years like Warren Buffet.

Or just move to a country that doesnt charge any taxes at all?

What country is that? Even in Somalia some warlord is going to take something from you...

[ForcedFirebird]

What about states that doesn't have a state tax?

[e30e]

It really doesn't matter. Even if he got elected and there was a 60% Republican majority in the house and senate, there will never be a flat tax, especially his plan. Tax lobbyist would never allow it, and let's face it, they run the country. It's unpopular with almost anyone that gets some kind of tax credit, and that's nearly everyone.
Tax deductions and tax credits are good things in a tax system. What our system lacks and needs is a national sales tax and carbon tax. I'll give Cain credit for at least proposing the former.

Remind me why I as a consumer would want a vat and carbon tax?

[joshh]

I am sure people will point that out and the whole "rich get richer" montra, even though most 401ks and other retirement options are built with stocks. I don't see why you should pay taxes on something you bought when you decide to sell it.

Then again most of the problem with this comes from people flipping stocks quickly, not holding them for years like Warren Buffet.



.

That's why this isn't even a real plan. It could be but it's impossible to make it this simple and still work. I'm all for getting rid of double taxation and over taxation while we're at it but this plan is not for real.

Remind me why I as a consumer would want a vat and carbon tax?

The consumer isn't important to those who believe in Socialism.

[BraveUlysses]

Do you pay something similar to capital gains tax under the 9-9-9 deal? Specifically when selling stocks.

It considers them same as any income.

This plan would only further enrich those who play the wall street slots.

[herbivor]

Remind me why I as a consumer would want a vat and carbon tax?

Why as a consumer would you want any taxes if you only think of yourself as a consumer?

VAT or consumption tax is a necessary balance to any good tax system, which is why almost every country has one. A carbon tax is similar to a VAT except it would incentivize people to pollute less thereby encouraging new technology development and a huge job boom. But that's for another debate. I'm not saying just add taxes to what we already have, but if you incorporate a VAT and carbon tax, you can reduce and eliminate for some the income tax. I think a tax on consumption is more "fair" than one purely based on income.

[mrsleeve]

^
VAT is NOT SYNONYMOUS with National sales tax. NST is simple, fair and straight forward and applies equally to all. The VAT is complex, convoluted, and ripe for corruption in a way that we have never seen in this country.

Bull shit it does. It adds a fuck ton of complexity to the tax system, it makes it harder for those that make things to figure out what they are supposed to be paying, it still allows for those in power to play favorites and pick who makes it and who dosent. You think our system is fucked up now wait till you put a VAT in place.

Do you pay something similar to capital gains tax under the 9-9-9 deal? Specifically when selling stocks.

No it eliminates the Capital gains tax this tax plan is a shift in the fundamentals of our economy, It will encourage savings and investment rather than pure consumption. And that is a very good thing

What about states that doesn't have a state tax?

What about them,???

[ForcedFirebird]

What about them,???

Nevermind I read it wrong...

[Ryann]

Why do I have pay both when I have a shitty year, and you dont????? Why I am punished for not having a kid, and being responsible and not having one until I can afford them.

I can understand this perspective. I was a single working class guy for years and felt like I was being fleeced. For people in your situation 9% flat tax looks good. For me, some years yay and some years nay.

[e30e]

Why as a consumer would you want any taxes if you only think of yourself as a consumer?

VAT or consumption tax is a necessary balance to any good tax system, which is why almost every country has one. A carbon tax is similar to a VAT except it would incentivize people to pollute less thereby encouraging new technology development and a huge job boom. But that's for another debate. I'm not saying just add taxes to what we already have, but if you incorporate a VAT and carbon tax, you can reduce and eliminate for some the income tax. I think a tax on consumption is more "fair" than one purely based on income.

Because there is nothing more American than being a consumer, I for one don't want another tax, why because the government hasn't done one thing right in ages and simply f up more with more tax money. I'm for a flat tax because it is fair, fuck poor people. Maybe it'll motivated them to stop blaming the system and they'll actually value something besides a hand out. I know it won't happen, you have your hand in peoples money and food you get control. Exactly what the government and mega corps want.

[joshh]

Because there is nothing more American than being a consumer, I for one don't want another tax, why because the government hasn't done one thing right in ages and simply f up more with more tax money. I'm for a flat tax because it is fair, fuck poor people. Maybe it'll motivated them to stop blaming the system and they'll actually value something besides a hand out. I know it won't happen, you have your hand in peoples money and food you get control. Exactly what the government and mega corps want.

Pretty well covered right there.

[E30Kaiser]

^
VAT is NOT SYNONYMOUS with National sales tax. NST is simple, fair and straight forward and applies equally to all. The VAT is complex, convoluted, and ripe for corruption in a way that we have never seen in this country.

A VAT in my mind prevents corruption, because it taxes the good at every level regardless of whether the person buying it declares themselves as a consumer or not. Hence, no more falsely declaring yourself as not being the end consumer when you are indeed the end consumer and thereby evading the normal sales tax.

It is confusing and math intensive, but at the end of the day the consumer doesn't pay any more than they would have anyway, and there is less tax evasion.