What are Herman Cain's plans? What is 9-9-9?

[The T]

You know........there are several places where that 9 percent flat tax would be non enforcable, namely federal lands like Native American reservations and military bases.

What would happen? The rich would have enough money that they could travel to places like Native American reservations and military bases so that they wouldn't have to pay sales tax. Poor people wouldn't have the same ability to do the same thing, so again, we have the poor paying for the rich.

Any different from NOW? Nope. None.

 

[Avorysuds]

Herman Cain Explains the 9-9-9 Plan to the National Federation of Republican Women - YouTube

Did he say no more death tax?

 

[Avorysuds]

So when Cain is asked if later Presidents or Congress, whatevere... if they can add to the tax, Cain says "No." Why can;t they add to the tax or for that matter lower it?

 

[PLYMCO_PILGRIM]

Herman Cain Explains the 9-9-9 Plan to the National Federation of Republican Women - YouTube

Did he say no more death tax?

Inheritance tax "death tax" is not included in his taxes because the money was already taxed.

 

[PLYMCO_PILGRIM]

So when Cain is asked if later Presidents or Congress, whatevere... if they can add to the tax, Cain says "No." Why can;t they add to the tax or for that matter lower it?

Yes he did say that but he has yet to explain how he can guarantee that.

He said it at the last debate I think...i'll look for a video

 

[DontBeStupid]

While I will never agree to government dictating how much an executive or anybody else can be paid, I would have no problem with a cap on how much compensation could be deducted from corporate income to determine the net profit. That would keep corporations from transferring all excess income to corporate salaries, bonuses, and/or benefits and then having no 'profit' to pay taxes on.

Cain's plan is terrible. But, I would like to point out that your idea would actually make things worse. If there were caps, then a company with $100K would pay 9% on that money. If there were no caps, they could transfer that money in the form of income to employees and the $100K would be taxed 9% as income and then another 9% when spent. That's the best scenario, as the employees get more spending money and the government gets more revenue.

 

[LoneLaugher]

Are there any examples of developed or developing nations adopting the fair tax?

 

[Firehorse]

Sales tax right now is what? 8% .. that may as well be a wash.

State Taxes is dependant on what state you live in, its not by accident that the states doing the best in there tough times are though without a state tax. States should take notice .... States like are not awash in red ink because they are not recieving State Tax revinue, that are in red ink because of spending issues.

Same with the Fed. The dont have the debt because there isnt enough money coming it through taxes, its spending. We bring in 3 Trillion a year and spend 4.5 Trillion. That is not that great of a distance apart. The economy is staled, there is no growth and wont be until either after election day or the new pres being sworn in, after that and the idiot is gone, business will get back to work.

What 9-9-9 will do is reduce taxes on those in the private sector that will be respocable for leading the way through this recovery (Im not talking big corps, im talking the local businesses) ...Will the Poor have to pay a little? Yes. Is there a reason why asking those that live off the government to help support it?

Will the top earners pay less? Yes.

What more important to the american people?

I sound plan that gives businesses the freedom to spend and create jobs knowing that the government is out to drive them out of business and is in fact (in the case of 9-9-9) will actually be lowing their taxes

or

OMG, look at the rich? way are making money? I would rather continue in this hole and watch them make money then for them to make money and start pulling out of this hole.


Its a legit question ... The rich are going to continue to get rich (its what they do) they may have to move assests overseas or offshore to do, but dont think for a second that a millionair doesnt have the time or smarts to protect their monitary inverstments ... They WILL CONTINUE to get rich ... the only real question is if you are going to have the economic ability to get rich or not.
, because at on this current course the only think that happens is that we get screwed

Take this BOA thing ... Do you really think that the government is going to make the Banks loose money? No, they are simply going to pass the cost of doing business onto the consumers. In the Governments effort to "Stick it to the big banks" They screwed us

The Rich will survive no matter what the government does, so stopp crying about them and look at your situation. Will giving local business as much as a 30% tax reduction help them to stay in business and grow and by default hire more?

Use your brain people

 

[Avorysuds]

So when Cain is asked if later Presidents or Congress, whatevere... if they can add to the tax, Cain says "No." Why can;t they add to the tax or for that matter lower it?

Yes he did say that but he has yet to explain how he can guarantee that.

He said it at the last debate I think...i'll look for a video

It was in the video posted here. It's things like that where I ask myself "wtf" when he talks. I want to be fair to Cain, I like Ron Paul and that guy gets fucked with all the time, but at least he gives answers that are super in depth.

 

[Oddball]

Are there any examples of developed or developing nations adopting the fair tax?

There are plenty of examples of countries where socialism has failed, yet that leaves today's American socialists/progressives undaunted....Ergo, so what if it hasn't been tried elsewhere?

 

[DontBeStupid]

Will giving local business as much as a 30% tax reduction help them to stay in business and grow and by default hire more?

No.

 

[Foxfyre]

While I will never agree to government dictating how much an executive or anybody else can be paid, I would have no problem with a cap on how much compensation could be deducted from corporate income to determine the net profit. That would keep corporations from transferring all excess income to corporate salaries, bonuses, and/or benefits and then having no 'profit' to pay taxes on.

Cain's plan is terrible. But, I would like to point out that your idea would actually make things worse. If there were caps, then a company with $100K would pay 9% on that money. If there were no caps, they could transfer that money in the form of income to employees and the $100K would be taxed 9% as income and then another 9% when spent. That's the best scenario, as the employees get more spending money and the government gets more revenue.

I don't think Cain's plan is terrible. I am quite intrigued by the concept.

I have no problem with a corporation paying its employees whatever it wishes and do not want the government meddling in that. The cap on deductible wages I would envision would be in the million dollar range which would not affect 99% of the employees. If increasing the wages of the employees should become cost effective or more revenue neutral, however, that is only a good thing. After I wrote the previous post, however, I realized that however it is done, the net to the government would be revenue neutral. You get it on the salary or you get it on the corporate profits. So maybe again let the market work instead of the government getting involved in that at all.

With a booming economy and full employment, businesses will be paying what it takes to attract and keep the best people.

 

[Firehorse]

As for if it can get through Congress, I think so ... It has a built in Balance budget amendment in it (thats a plus), reductions in spending (thats a plus), which has to shrink government (thats a plus), simplifies tax code (thats a plus) ....

This election is going to bring a lot more Republican seats ... Its very likely that the same same party will control both houses .... They (our elected officials) know that we are serious by now (one would hope) and if not, there are always the next Midterms to thin out the entrenched establisment people

 

[PLYMCO_PILGRIM]

Will giving local business as much as a 30% tax reduction help them to stay in business and grow and by default hire more?

No.

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

 

[DontBeStupid]

Will giving local business as much as a 30% tax reduction help them to stay in business and grow and by default hire more?

No.

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

If a business is currently making $0 in profits, how does 30% more help it?

 

[kwc57]

Will someone who likes Herman Cain as a candidate please campaign for him here. Give it your best shot.

I'd like to hear more about his plans for the nation from someone who feels informed enough to be a good advocate.





Edit: p.s. What are the odds of Cain being able to get his plans through Congress? Assume the best information campaign possible, to convince the people, so they can convince their representatives. Will that be enough? Will Congress cooperate?

I just read thru the whole thread and unless I missed it, no one did the obvious......post the link to Cain's website. You don't need people here to tell you second hand, all you have to do is go to his website and read his own words.

The Issues | Herman Cain for President

 

[Foxfyre]

Will giving local business as much as a 30% tax reduction help them to stay in business and grow and by default hire more?

No.

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

Not to some diehard liberals it won't. But I honestly think some of our leftist friends have no education in or experience with economics and don't really have a clue how it works. Some may even think government is the creator of all wealth and prosperity and the greedy private sector only interferes with that process.

 

[PLYMCO_PILGRIM]

No.

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

If a business is currently making $0 in profits, how does 30% more help it?

The business takes in 100,000.00 and its expenses are 100,000.00 and like you said they are making $0.00 in profits.

Now increase the intake by 30%. Now they are making 30,000 when before they were breaking even.

Did I help? Or are you just hung up on me saying profits instead of net income

 

[kwc57]

No.

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

If a business is currently making $0 in profits, how does 30% more help it?

You know what they call those businesses in really short order.....closed businesses.

 

[DontBeStupid]

Really making 30% more in profits won't help a business stay open, grow, and possibly hire more people to meet the demands of the growth?

If a business is currently making $0 in profits, how does 30% more help it?

The business takes in 100,000.00 and its expenses are 100,000.00 and like you said they are making $0.00 in profits.

Now increase the intake by 30%. Now they are making 30,000 when before they were breaking even.

Did I help? Or are you just hung up on me saying profits instead of net income

Nope. I'm hung up on the fact that you talked about reducing taxes on their profits, then gave an example where you increased their revenue.

You're not being consistent.