Would Cains 9-9-9 help you?

Discussion in 'Politics' started by JRK, Nov 4, 2011.

  1. JRK
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    JRK Senior Member

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  2. zzzz
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    zzzz Just a regular American

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    No!
     
  3. Charles_Main
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    Charles_Main AR15 Owner

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    If you focus only on how the new rates will effect you, you miss the big picture.

    His plan would remove so many Imbedded Taxes we pay it's not funny. Sure you will pay 9% sales tax, but the companies that make the products you pay that tax on. Will see a massive drop in taxes they pay providing the Product. Business will be able to make more Profit, while absorbing the 9% and not raising Prices at all. Which is good for us all, Believe it or not.
     
  4. WorldWatcher
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    WorldWatcher Gold Member

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    Most of the "embedded" taxes will not be going away under 9-9-9, only those embedded taxes based on previous income from a federal level, it will have no impact on state taxes. Let's take the federal gas tax which is about $0.18 a gallon. If a gallon of gas cost $3.50 before 9-9-9 it will still cost $3.50 after because 9-9-9 does not touch state taxes or federal excise taxes, the $0.18 per gallon federal tax is still there. So now you pay 3.50 * 1.09 = $3.82 after the new 9% sales tax.



    >>>>
     
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  5. ScreamingEagle
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    ScreamingEagle Gold Member

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    I hate state sales taxes......especially when combined with state income taxes....

    They get you when you MAKE your money......and then they get you again when you SPEND your money.....plus everywhere else in between with fees....fees like never-ending real estate taxes....

    one or the other....but NOT BOTH....that's like giving congressmen crack cocaine....:eusa_hand:
     
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    Last edited: Nov 4, 2011
  6. Dirty
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    Dirty Rookie

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    Will a lowering the taxes of the rich by raising my taxes help me? I only have one thing to say. HELL NO! :eusa_hand:
     
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  7. ScreamingEagle
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    ScreamingEagle Gold Member

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    Then why not simply reduce the corporate tax rate to zero or else 18%......?
     
    Last edited: Nov 4, 2011
  8. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    And how does the country make up for the lose of tax receipts? Cut programs that help the already struggling Middle and poor classes? Right now the Corporate tax revenues are near record lows, despite good profits.

    Income Slides to 1996 Levels

    "The income of the typical American family—long the envy of much of the world—has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation.

    The income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $49,445 in 2010, which is 7.1% below its 1999 peak, the Census Bureau said."

    Household Income Falls, Poverty Rate Rises - WSJ.com
     
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  9. healthmyths
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    healthmyths Gold Member Supporting Member

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    The biggest argument against it is the 9% sales tax.
    Here is a simple explanation as to why it will work.

    Let's take A gallon of gas.
    These are REAL numbers OK???
    FACTS...

    At an average price per gallon of $3.56 as of 03/2011

    crude oil 68.00% $2.42
    Refining 13.00% $0.46
    Taxes 12.00% $0.43 (Federal,state,local, sales taxes go up when the price goes up)
    distribution /marketing 7.00% $0.25
    "For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States
    in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents."
    Gas prices and industry earnings: A few things to think about the next time you fill up | ExxonMobil's Perspectives Blog

    Taxes...
    1) A Federal tax of 18. 4 cents is collected in every state.
    this works out to 5.17% right now!!!
    2) BUT remember the following are HIDDEN TAXES!!!
    a) Crude OIL taxes.. Oil Spill Liability Tax
    The oil spill liability tax rate is $.08 per barrel and generally applies to crude oil received at a U.S. refinery and to petroleum products entered into the United States for consumption, use, or warehousing. The tax also applies to certain uses and the exportation of domestic crude oil.
    Didn't know that did you??? This works out to annually $343,360,000 on 4.29 billion barrels imported annually.
    $343 million in HIDDEN TAX Cain talks about!!!
    Publication 510 (07/2011), Excise Taxes

    As result.. this $343 million HIDDEN tax will be removed!
     
  10. JRK
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    JRK Senior Member

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    With respect you know nothing about who I am and what I do understand,
    I could not agree with you more, It is exactly my point(s)
    Good thread
    We pay all taxes, it frees up capital for any-one who makes over 30,000 or so
     

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