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Thread: Cain's 9-9-9 Plan

  1. #21
    Dr Tweak mnosteele52's Avatar
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    Quote Originally Posted by Roody View Post
    In his defense there is a lot of things that Cain hasn't answered and he even admitted recently not everyone would get the benefits of 9-9-9 which is ironic to say the least.
    I understand, but I felt as if I explained things fairly well in my original post and I would like to see where he came up with the figure of 34.25%.

  2. #22
    R.I.P. 2013-11-22 blebs's Avatar
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    Being on the poor end of the scale, I think this plan stinks. Of course, if Cain were elected president, he alone could do nothing about implementing this plan. Last heard, that was what Congress was for. 9% flat tax for someone like myself is financial suicide, yet millionaires will still be millionaires. Some say it's the only fair way, but from my seat, this is not fair at all.
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  3. #23
    Moderator Roody's Avatar
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    Quote Originally Posted by blebs View Post
    Being on the poor end of the scale, I think this plan stinks. Of course, if Cain were elected president, he alone could do nothing about implementing this plan. Last heard, that was what Congress was for. 9% flat tax for someone like myself is financial suicide, yet millionaires will still be millionaires. Some say it's the only fair way, but from my seat, this is not fair at all.
    I wouldn't worry about him getting elected. From a public office perspective he is less experienced than Obama was and the lack of experience was a big complaint of the Republican Party in 2008. Not that it would prevent them from changing the narrative. I just don't see it happening. At this point I would bet on Romney.

  4. #24
    Moderator Roody's Avatar
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    Here's a non-partisan report on the 9-9-9 plan.

    http://money.cnn.com/2011/10/18/news...bin&hpt=hp_bn5

  5. #25
    Moderator YeOldeStonecat's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Rich people still earned their money at some point, you can't invest with nothing to invest, so when they earn their money they will pay their 9%.
    Eh...not the rich that I'm used to dealing with up in my area. It's old old well known rich families that have handed down their wealth generation..after generation...after generation....they don't work anymore. There's such a huge bank account they can afford a lavish life simply living off of the interest of those accounts.
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  6. #26
    Moderator YeOldeStonecat's Avatar
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    When I first heard of this plan...I was sorta interested in it. Seemed interesting. Today I'm at the office doing stuff...and have the opportunity to read up on it more. I'm not liking the plan as much anymore.

    To me...money should be treated like a consumable..that more that goes through your hands...the more you should pay for it. To someone that makes say...just $30k per year...family of 4....versus someone that makes $130k per year....family of 4. Clothing, food, day to day household expenses, the necessities are about equal...but a flat tax removes a much larger portion of money from the 30k per year persons monthly budget. The person making 130k per years only has to pay the same amount as the lower income family....and has a much larger portion remaining. He's not stretched thin.

    If I am making more money, I don't mind getting taxed more. I recall in my younger years...a job that allowed me to work lots of overtime...once I got past 65 hours my pay basically turned back to straight pay instead of time and a half pay...because taxes took a bigger bite out of my paycheck. Didn't bother me then, wouldn't bother me now.

    With this flat tax plan..it seems the "wash even point" for it to be beneficial is for those households that earn above 130-150k per year. So for those under...it'll hit your wallet harder than current taxes. Above 150k/year..that ain't me....so I'm not as fond of this plan anymore.

    Even though Cain goes under the Republican label...his plan doesn't seem enticing to small businesses.
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  7. #27
    Dr Tweak mnosteele52's Avatar
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    Old money, I see your point but as it stands you are not getting any tax revenue from it, right? With a 9% national sales tax you would get something. But if this was in effect generations ago then there would have been a 9% tax on when it was earned. You have to forget everything you know about taxes as we know it and understand there are only 3 taxes. If you look at some websites that show how much the average consumer spends on things you would see that the 9% national sales tax would not greatly effect most since most consumers don't spend that much of their income on new items. Remember also that the price of goods would go down since they are taxed less, which now the added taxes are passed onto the consumer.

  8. #28
    Second Most EVIL YARDofSTUF's Avatar
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    How are goods taxed less under 999? Wouldn't the manufacturers be taxed 9% on their purchases of of materials and services just like an individual? And no you cant forget everything you know about taxes, ans state and local taxes still apply.

  9. #29
    Dr Tweak mnosteele52's Avatar
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    Quote Originally Posted by YARDofSTUF View Post
    How are goods taxed less under 999? Wouldn't the manufacturers be taxed 9% on their purchases of of materials and services just like an individual? And no you cant forget everything you know about taxes, ans state and local taxes still apply.
    OK, then forget everything you know about federal taxes.

    From my understanding and I could be wrong, no, manufacturers would not be taxed 9% on materials.

  10. #30
    TypicalWhitePerson JC's Avatar
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    Quote Originally Posted by YARDofSTUF View Post
    How are goods taxed less under 999? Wouldn't the manufacturers be taxed 9% on their purchases of of materials and services just like an individual? And no you cant forget everything you know about taxes, ans state and local taxes still apply.
    My understanding is the tax only applies at the "retail" level. Companies would then "save" money and ultimately reduce prices.
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  11. #31
    R.I.P. Nov 2015 RaisinCain's Avatar
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    Does anyone honestly think that the GOP will endorse an African American? Do you honestly think "they" would run an AM against another AM? Most likely Mitt will get the "endorsement". Sad if you ask me.

  12. #32
    Dr Tweak mnosteele52's Avatar
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    Quote Originally Posted by RaisinCain View Post
    Does anyone honestly think that the GOP will endorse an African American? Do you honestly think "they" would run an AM against another AM? Most likely Mitt will get the "endorsement". Sad if you ask me.
    WOW, that is one of the most racist statements I have heard in a while. WHO CARES WHAT COLOR SOMEONE IS??????

  13. #33
    Administrator Philip's Avatar
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    Quote Originally Posted by JC View Post
    My understanding is the tax only applies at the "retail" level. Companies would then "save" money and ultimately reduce prices.
    Not with his 9-9-9 plan, the 9% corporate "income" tax is actually a VAT, it is another 9% consumption/sales tax.

  14. #34
    Maneater JawZ's Avatar
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    Personally I think it's too early to tell if Cain's plan has teeth. Most fact check type organizations can't fully decipher it as they are awaiting input from Cain's people. Once the full details are available, then I can evaluate.

    ...formerly the omnipotent UOD

  15. #35
    TypicalWhitePerson JC's Avatar
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    Quote Originally Posted by Philip View Post
    Not with his 9-9-9 plan, the 9% corporate "income" tax is actually a VAT, it is another 9% consumption/sales tax.
    Compared with current corporate tax rate of 35% , I'll take the 9%. The 9-9-9 plan is actually a gateway to the "fait tax".
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  16. #36
    SG Enthusiast Easto's Avatar
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    I think the biggest problem is what we are currently doing with the tax dollars we are paying now. Too much corruption, too many pet projects and too many Federal employees thinking they have a free ride. If the money was spent wisely I don't think we would be having this conversation.

  17. #37
    Administrator Philip's Avatar
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    Quote Originally Posted by JC View Post
    Compared with current corporate tax rate of 35% , I'll take the 9%. The 9-9-9 plan is actually a gateway to the "fait tax".
    S-corporations (up to 100 shareholders) pass income to shareholders, no corporate tax and no double taxation of income. Also, income taxes get applied after you expense salaries, unlike the 9-9-9 plan.

  18. #38
    R.I.P. Nov 2015 RaisinCain's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    WOW, that is one of the most racist statements I have heard in a while. WHO CARES WHAT COLOR SOMEONE IS??????
    I'm not "racist"- I hate everyone the same. Seriously, do you think Cain will get the nom? Uh, nope. If you honestly think that the Dems and the Reps will run 2 African Americans at the same time you're wrong. It will most likely be Mitts dumb ass.

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