steveh_131
Grandmaster
Google :
sales tax fraud
About 19,400,000 results (0.11 seconds)
That's some quality research. You should be working for a think tank or something. Your skills are clearly underutilized.
Google :
sales tax fraud
About 19,400,000 results (0.11 seconds)
Google results... lol... go to 3:28 of this video.Google :
sales tax fraud
About 19,400,000 results (0.11 seconds)
Certainly sounds dramatic. How about paying a 9% tax on what you buy, as compared to a 28% (or more) tax on what you make?
Consider that the current corporate income tax rate (you can call it VAT I guess if you want) is about 25%. Reducing that to 9% is a 16% reduction in taxes on consumer goods and services.
The lowest gross income tax bracket is 10%. (Cain has said you can still deduct charitable contributions from your gross income) Then it goes up to 15% after $8500 and 25% after $34,500. Since the average income is about $60k, the average gross taxable rate is going to be about 12% without deductions. That's a 3% reduction for single folks without a lot of deductions. Figure it's a wash or a couple % increase for families.
Now we add the 9% retail tax, which partially offsets your 16% tax reduction from corporate income, bringing the total tax reduction on retail goods to about 7%.
For seniors, we've removed the death tax, and all investment taxes, and reduced the price of retail goods by 7%, and/or increased their investment ROI by reducing cost to business in which they're invested.
Ok, so we go to Cain's webpage and we find out that the 999 plan is a stepping stone to the fairtax.
Phase 2. We repeal the 9% corporate tax. We repeal the 9% income tax, we repeal the 6% (is that what it is now) FICA tax, plus the 7% employer FICA tax. We repeal ALL other taxes and increase the rate of the retail sales tax from 9% to 23%. We repeal the 16th amendment while we're at it.
Don't forget that the fairtax is phase 2 of the 999 plan. Not openly discussed in debate or anywhere except his website really.
Not only does this sound like the right thing to do, it also sounds do-able. It will stimulate economic growth, and control government spending through accountability, by only having ONE tax with ONE rate. If you change the rate, people are going to know EXACTLY what will happen to prices.
The icing on the cake would be a balanced budget amendment as well. Here's to hoping and dreaming.
I'm encouraged by the 999 plan, and all of the people who seem to support it. While it's not my favorite (I would support going straight to the fairtax), it does seem realistic.
monkey out
That's some quality research. You should be working for a think tank or something. Your skills are clearly underutilized.
Google results... lol... go to 3:28 of this video.
http://www.youtube.com/watch?v=nkuOuxRD1Bc
Good, so you agree it's evil to force someone to pay money to support someone else just so they can live.
I'm glad we have established some common ground.
Rather than taking a principled stand against unconstitutional spending, Cain’s plan merely perpetuates spending at unsustainable rates financed by a national sales tax. Cain, the former chairman of the Kansas City Federal Reserve, has no intention of tackling Medicare, Medicaid, and Social Security, the three entitlement programs bankrupting the country, nor has he articulated any coherent foreign policy, let alone one of restraint that would keep defense spending at reasonable levels. Cain’s plan will generally keep tax revenue at its current levels, perpetuating fiscal largesse that can only continue to lead America to an untimely economic demise. Cain’s 9-9-9 tax plan is a big-government “conservative’s” dream plan; it allows the welfare-warfare state to continue unabated, all under the guise of being somehow “conservative.”
What I really do think is that the greatest current evil (and his lovely bride) resides at 1600 Pennsylvania Avenue, and that the primary focus of all of us needs to be his removal and replacement with Paul, Cain, Perry, Romney, a Yorkshire Terrier, or a fire hydrant. (Any of the above would be preferable to what we've got now!)
Obviously you are one of "the rich".I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.
I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.
Obviously you are one of "the rich".
How much rebate would you get?
I just went to the Fair Tax web site and punched my numbers in. It says that under the Fair Tax I'll have -4.24% more spendable income, -$3k more purchasing power, and -$2500 less Federal Tax. So I have less to spend, it costs me more to buy stuff, and I pay more taxes. Yep, that sounds fair, in a Washington DC sort of way.
One of the things Gutzman mentioned that I've been amused by is the number of folks who have lamented Obama's mere two years as a Senator, but are just fine with half-term Palin and no-term (but I was a Fed Director) Cain. Gotta love folks who are consistent.