Tax Policy Center delivers haymaker to 9 - 9 - 9

[DiamondDave]

Whoa. See what some of us were trying to tell you?


Study: Cain Tax Plan Raises Taxes on 84 Percent


"Herman Cain's 9-9-9 tax plan would raise taxes on 84 percent of U.S. households, according to an independent analysis released Tuesday, contradicting claims by the Republican presidential candidate that most Americans would see a tax cut.


The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent....

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut nearly in half, on average, according to the analysis...."

Read more: Study: Cain Tax Plan Raises Taxes On 84 Percent | Fox News

SO, all that talk by OBAMA of ALL THE PEOPLE having some skin in the game, was just SMOKE he and you all were blowing up our asses.

So you're willing to let Cain raise YOUR taxes, granny?

You're so willing to raise it on others

 

[Liability]

Whoa. See what some of us were trying to tell you?


Study: Cain Tax Plan Raises Taxes on 84 Percent


"Herman Cain's 9-9-9 tax plan would raise taxes on 84 percent of U.S. households, according to an independent analysis released Tuesday, contradicting claims by the Republican presidential candidate that most Americans would see a tax cut.


The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent....

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut nearly in half, on average, according to the analysis...."

Read more: Study: Cain Tax Plan Raises Taxes On 84 Percent | Fox News

If that analysis is correct, Herman Cain oughta draw more votes from liberals and Democratics that the President.


You guys urgently desire to tax folks more.

 

[rightwinger]

A nine percent sales tax automatically raises inflation 9%. You now have 9% less spending power than you had before Cain

Is your employer going to give you a 9% raise to make up for it?

 

[Care4all]

So just to be clear...

Taxes are deemed as operating costs and thus are passed along to the consumer in prices as it pertains to the GOP candidate Cain's 9-9-9 plan...

But when the GOP showed concern that an increase of taxes on the wealthier buisness owners will only add to the cost of goods to the consumer, such was nothing more than GOP rhetoric and blatantly false...

Am I correct?

Taxes are deemed as operating costs and thus are passed along to the consumer in price....Period.

I agree wholeheartedly....and have known that to be fact since I was in college.....

So why does the left continually say that increasing taxes on corporations will have no affect on prices and such is nothing but rhetoric by the corporation loving GOP..

And furthermore, why is that not a topic of conversation as it pertains to increasing taxes on the wealthy business owners?

corporate taxes are passed on to the consumer where they can be....from my experience.

BUT if you are getting a tax break that your competitor is not getting, or you have your corporation set up, where you pay less taxes because you have set up a good portion of your business on 'paper' overseas, while your competitor was unable to do such, then the corporation will NOT pass the tax savings over to the consumer in most of those cases, and they will pocket it....

in the above scenario, if the competitor pays higher taxes, then they can not lower the price on their products....so the established retail price is set, consumers are paying that retail, no need to lower your prices just because of your tax break....

with the exception of wanting to capture more market share or wanting to put your competitor under, then you may reduce the prices of your goods....while your competitor struggles to meet you.

edit
*corporate taxes are consumption taxes, they are paid by the people who purchase the corp's products....if you don't buy that corps' product then you do not pay their corporate taxes.

 

[Skull Pilot]

A nine percent sales tax automatically raises inflation 9%. You now have 9% less spending power than you had before Cain

Is your employer going to give you a 9% raise to make up for it?

The savings from reducing my income tax rate would more than make up for the sales tax

 

[Skull Pilot]

All people are being treated equally....all dollars are not

So making some people pay more than others is treating everyone equally?

Should all prices be scaled according to income? If I make more than you should I pay more for food, electricity, gas, etc?

When others benefit at my expense I believe I do have a legitimate gripe.

You are treated the same as a millionaire..

Your first $35,000 is taxed at the same rate as his
Your next $200,000 is taxed at the same rate as his
Your next $3 million is taxed at the same rate as his

Not my fault if you can't keep up

Sorry but i do not have the same deductions as others.

I don't have rug rats so I pay more in taxes than someone with the same income with rug rats.

I am not allowed to save via an IRA

Those 2 points are enough to say I am not treated the same as other people.

Now add on the ridiculous policy of refundable tax credits and it's plain to see that not all earners are treated exactly the same.

The tax code is so much more than a table of marginal rates haven't you figured that out yet?

Maybe you should learn a little more about the inequities of the tax code before you put so much faith in its so called equal treatment of all earners.

 

[AVG-JOE]

All people are being treated equally....all dollars are not

All dollars being earned by the people are not.. out of a shell game... pandering for votes.. because equal treatment does not allow for dissension in the ranks... you know it, I know it... but you are so caught up in the game of "what can I get over on someone else", you will refuse to say it... progressive taxes by definition are unequal treatment... face it.. you class warfare monger

Progressive taxes acknowledge the need for less affluent people to spend a large percentage of their income on food, shelter, healthcare and transportation. High taxes on income needed for the necessities of life literally takes food out of peoples mouths

Most of the world realizes this.........Conservatives don't

So let's let every legal worker earn their first $20,000 or $25,000 or $40,000 tax free and flat tax those who're doing better than the minimum. As long as everyone is treated the same, it's fair, right?

 

[AVG-JOE]

When one pays no federal income tax (well.. more than one... more like ~48% of the citizenry)... of course having a standard tax that will apply to everyone will mean there is an increase for many...

They should have been paying federal income tax like others in the first place... you know... that little thingy called equal treatment by law under government

Exactly why I laugh at those that act like "look what I uncovered" ...

It is not rocket science to know that a flat tax would mean the wealthier will pay less than they do now and the less wealthy will pay more.

What I am curious about is the capital gains tax...are all cap gains going to be deemed as income and taxed at 9%?

If yes, then I just cant see how this 9-9-9 plan will be deficit neutral.

My understanding is Capital gains tax would be reduced to zero.

Of course no consideration wouild be given if those capital gains came from investing in the US or overseas. So basically it is a giveaway to the wealthy who get most of their income from capital gains...

Not a member of either party but don't see in an era of increasing globalization and income disparity dramatically decreasing taxes for those shifting jobs and investment overseas and dramtically increasing taxes on unemployed workers trying to scrape by is a winning strategy.

ALL streams of income should be taxed the same if there is to be an 'income tax'. Not taxing capital gains would not be fair.

 

[AVG-JOE]

Whoa. See what some of us were trying to tell you?


Study: Cain Tax Plan Raises Taxes on 84 Percent


"Herman Cain's 9-9-9 tax plan would raise taxes on 84 percent of U.S. households, according to an independent analysis released Tuesday, contradicting claims by the Republican presidential candidate that most Americans would see a tax cut.


The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent....

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut nearly in half, on average, according to the analysis...."

Read more: Study: Cain Tax Plan Raises Taxes On 84 Percent | Fox News

If that analysis is correct, Herman Cain oughta draw more votes from liberals and Democratics that the President.


You guys urgently desire to tax folks more.

All THIS average liberal wants is fair and simple taxes and a budget balanced by law.

 

[AVG-JOE]

A nine percent sales tax automatically raises inflation 9%. You now have 9% less spending power than you had before Cain

Is your employer going to give you a 9% raise to make up for it?

You're employer may not give you a raise but your pay check will go up. It's not like congress would be able to add a sales tax without eliminating some income taxes.

 

[rightwinger]

A nine percent sales tax automatically raises inflation 9%. You now have 9% less spending power than you had before Cain

Is your employer going to give you a 9% raise to make up for it?

You're employer may not give you a raise but your pay check will go up. It's not like congress would be able to add a sales tax without eliminating some income taxes.

If you pay at the 36% tax rate, your take-home pay will go up significantly

If you pay at the 10% rate your take-home pay will go down because of the elimination of deductions

Regardless, adding a 9% tax is inflationary

 

[Skull Pilot]

A nine percent sales tax automatically raises inflation 9%. You now have 9% less spending power than you had before Cain

Is your employer going to give you a 9% raise to make up for it?

You're employer may not give you a raise but your pay check will go up. It's not like congress would be able to add a sales tax without eliminating some income taxes.

If you pay at the 36% tax rate, your take-home pay will go up significantly

If you pay at the 10% rate your take-home pay will go down because of the elimination of deductions

Regardless, adding a 9% tax is inflationary

It's about time those that pay zero income tax and receive refundable tax credits at our expense start paying their own way.

 

[rightwinger]

You're employer may not give you a raise but your pay check will go up. It's not like congress would be able to add a sales tax without eliminating some income taxes.

If you pay at the 36% tax rate, your take-home pay will go up significantly

If you pay at the 10% rate your take-home pay will go down because of the elimination of deductions

Regardless, adding a 9% tax is inflationary

It's about time those that pay zero income tax and receive refundable tax credits at our expense start paying their own way.

If their entire income is spent on rent, food, transportation and healthcare....why do you want to jack up their tax bill while protecting those who are accumulating massive wealth?

 

[Claudette]

During the Reagan years they lowerd the business tax to 10% and the economy took off.

One would assume the same would happen at 9%.

Doesn't Cains plan get rid of loads of taxes that we currently pay and replace it with 9%??

AS for the raise in taxes on 84%? Well half the folks in this country don't pay Fed taxes at all so I wonder where that figure came from.

 

[Skull Pilot]

If you pay at the 36% tax rate, your take-home pay will go up significantly

If you pay at the 10% rate your take-home pay will go down because of the elimination of deductions

Regardless, adding a 9% tax is inflationary

It's about time those that pay zero income tax and receive refundable tax credits at our expense start paying their own way.

If their entire income is spent on rent, food, transportation and healthcare....why do you want to jack up their tax bill while protecting those who are accumulating massive wealth?

If they are spending their entire income and cannot pay their bills then they need to change their life style by either spending less or earning more.

It's a simple equation. I did it my whole life and it's not as hard as you think.

 

[WatertheTree]

Whoa. See what some of us were trying to tell you?


Study: Cain Tax Plan Raises Taxes on 84 Percent


"Herman Cain's 9-9-9 tax plan would raise taxes on 84 percent of U.S. households, according to an independent analysis released Tuesday, contradicting claims by the Republican presidential candidate that most Americans would see a tax cut.


The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent....

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut nearly in half, on average, according to the analysis...."

Read more: Study: Cain Tax Plan Raises Taxes On 84 Percent | Fox News

Hopefully Herman Cain will just fade away into nothing now.

 

[Care4all]

No...you said that.

What I am saying is that I admire the effort...but I just dont think it will work.

Unlike people such as you who refuse to ever recognoize an error by the democrats....I am willing to admit when I believe a GOP idea is going to be a failure

link?

I can post a link to USMB but I have a better idea.

Just answer these questions...and feel free to add to each answer your rationalization if you wish:

Did the stimulus NOT do what the administration and the democrats promised it would do?
Did Holder NOT offer up the truth when asked about when he knew of Fast and Furious?
Did Pelosi WRONGLY accuse the Tea Partyers as "mobs and thugs"?
Did Obama WRONGLY offer his opinion on a police arrest after the arrest?
Did Barney Frank DROP THE BALL as it pertained to his job of overseeing Fannie and Freddie?

Lets start with those.

-please show us where the democrats PROMISED the results of the stimulus, I saw nor heard anyone PROMISE.
- didn't follow the fast and furious, so don't know
-heard from you all that she did call them that...don't know the timing of it...like was it when the tea party protested and then she and many others in congress got "death threats"? Or was it when gabby was shot?Or was it when the tea party members of congress held paying the National debt hostage, causing the instability in the market and the crash the following day or two from it?
-I personally do not think Obama should have offered his opinion, but i do believe his opinion was right....it is evident by the cops dropping the charges against the man....cause they NEVER would have stuck....and they never should have been brought against him.
-Barney Frank is a Republican????? the Republicans had a Majority leading up to the housing bust....he could not have been in charge of fannie and freddie during those years....only republicans were committee heads at the time...they lead the show and legislation....barney was in the minority leadership, NOT the majority. (I do agree that his positions were in support of fannie and freddie, but he was not IN CHARGE leading up to the housing boom and bust......republicans were)

 

[Avorysuds]

When one pays no federal income tax (well.. more than one... more like ~48% of the citizenry)... of course having a standard tax that will apply to everyone will mean there is an increase for many...

They should have been paying federal income tax like others in the first place... you know... that little thingy called equal treatment by law under government

While I agree with what you said, the point of the OP is not if people should pay more or less in taxes, it's that Cain lied and said 100% of people would see a tax cut, then he flip flopped, then he called people liars for proving his formula wrong.

But Cain made a shit load of money selling books...

 

[NYcarbineer]

You're employer may not give you a raise but your pay check will go up. It's not like congress would be able to add a sales tax without eliminating some income taxes.

If you pay at the 36% tax rate, your take-home pay will go up significantly

If you pay at the 10% rate your take-home pay will go down because of the elimination of deductions

Regardless, adding a 9% tax is inflationary

It's about time those that pay zero income tax and receive refundable tax credits at our expense start paying their own way.

Then the GOP should run on that. Run on the position that the big problem in this country is that the Poor are undertaxed.

And while they're committing political suicide running on that platform, they shouldn't forget to remind us that it was GOP tax policy in the first place that lowered taxes on low income Americans to the point where they are.

 

[rightwinger]

During the Reagan years they lowerd the business tax to 10% and the economy took off.

One would assume the same would happen at 9%.

Doesn't Cains plan get rid of loads of taxes that we currently pay and replace it with 9%??

AS for the raise in taxes on 84%? Well half the folks in this country don't pay Fed taxes at all so I wonder where that figure came from.

We also tripled our debt.....we don't want that do we?