Cain’s tax plan is better than Perry’s, Gingrich’s and Romney’s tax plans

[rightwinger]

can you defend how Cains plan adds 9% to inflation?

A 9% sales tax is definitely not adding 9% to inflation. And right now, inflation is only at 3/3.5%, which isn't so bad historically and not necessarily a bad thing in a slow economy.

How does adding 9% to the cost of EVERY good or service not add to inflation? You are automatically adding 9% to the cost of everything

Will your employer add to your pay to make up for the lost purchasing power of your salary? Of course not

 

[uscitizen]

All their tax plans are just hot air since none of them will be passed in congress.
Hopey changey?

 

[rightwinger]

Can you defend how Cains plan raises taxes on 84% of Americans?
Can you tell us again who will see their taxes cut?
Can you defend how Cains plan adds more to the national debt?
can you defend how Cains plan adds 9% to inflation?

Sure it is called a fair tax. Currently there are people that work under the table and pay no tax. So yes in that case they would pay more taxes. There are contractors that pay not social security and medicare tax. They simply pay regular tax. So in that case they would be paying more taxes. The fact is all those being honest will pay less taxes.

Yes many of the working individuals that pay taxes. I'm middle class and I pay with social security, medicare, and income tax about 32%. Plus the hidden taxes I pay in products that will be going away. Sure there is a 9% sales tax. But if I want to not buy and save my money then I can. I don't have that choice now.

Spending is a problem and we can pretend there is another answer other than cutting spending on welfare. But it is a lie. We have to cut welfare at some point. The truth is we could tax every rich person 100% and still have a deficit. We have to cut spending.

I don't get the 9% to inflation. You will have to help me with that one. But we are already adding to inflation with our monetary policy. But again I don't see how the 9-9-9 plan will add to inflation.

At least you are being honest. 9-9-9 is nothing but a shameless attempt at cutting taxes on our favored citizens because their tax rate is not "fair"

All honest people will pay less taxes? Are you kidding me? Why doesn't Cain put that in writing so all us honest people can come forward?

is Cain now claiming to kill Social Security and Medicare Taxes? That's news to me. How does one magically stop buying when Cain is taxing everything you spend money on....Food, housing, electricity, healthcare, car expenses

Adding 9% to the cost of everything you buy is, by definition, inflation.

 

[miami_thomas]

You have no problem paying as national sales tax on top of the state sales tax you pay now?

No I pay the taxes now. Only now I have to pay them. At least under his plan I would only pay it if I buy something.

 

[miami_thomas]

We've covered this extensively. Cain's 'Tax plan' is not only a shameless gimmick, but even if by some miracle of American stupidity he was elected, said 'Tax plan' could never, and would never see the light of day.

I think it is a good plan. I think many americans like it which is why he is moving up the polls. I believe he will be running for president and I think he will beat Obama.

 

[miami_thomas]

]

Figure out what the ACTUAL federal tax percentage you're paying on your adjusted gross income and get back to me with what you REALLY pay.

My federal income tax rate is 28%. I pay 4.2% for social security. That is 32.2%. Then I have to add medicare 1.45%. So my tax rate is 33.65%. I have no deductions and I'm single. That is what I pay in taxes.

 

[miami_thomas]

Will your employer add to your pay to make up for the lost purchasing power of your salary? Of course not

The adjustment is in the fact that if you work you no longer pay the 5.65% in payroll taxes. So in reallity for those people that pay that and pay no federal income taxes then it is an increase of just over 3%. For those that do pay federal taxes it will be a increase in pay.

 

[miami_thomas]

At least you are being honest. 9-9-9 is nothing but a shameless attempt at cutting taxes on our favored citizens because their tax rate is not "fair"

All honest people will pay less taxes? Are you kidding me? Why doesn't Cain put that in writing so all us honest people can come forward?

Fair is not just the nearly 50% paying no taxes. It is also corporations like GE that paid zero tax. Or the fact than a lot of rich people use the little loop holes to get around paying taxes. And yes there are people that work under the table and pay no taxes.

is Cain now claiming to kill Social Security and Medicare Taxes? That's news to me. How does one magically stop buying when Cain is taxing everything you spend money on....Food, housing, electricity, healthcare, car expenses

That was in the plan from the beginning. Perry's and Gingrich's plans also eventually eliminate the payroll tax.

Adding 9% to the cost of everything you buy is, by definition, inflation.

We can not be certail the total the percentage will go up. There are some prices of items that will go down as some business costs will go down also. When I lived in Alabama I paid a nearly 10% sales tax. To be honest never noticed it really. Now I live in Miami and when I go to Alabama even with the tax everything is cheaper. That is because all the property tax in florida is put into the prices of items. Taxes always end up at the end in the pricing.

 

[Lonestar_logic]

You have no problem paying as national sales tax on top of the state sales tax you pay now?

No I pay the taxes now. Only now I have to pay them. At least under his plan I would only pay it if I buy something.

You'd still be paying an individual flat tax.

 

[Lonestar_logic]

]

Figure out what the ACTUAL federal tax percentage you're paying on your adjusted gross income and get back to me with what you REALLY pay.

My federal income tax rate is 28%. I pay 4.2% for social security. That is 32.2%. Then I have to add medicare 1.45%. So my tax rate is 33.65%. I have no deductions and I'm single. That is what I pay in taxes.

Minus your tax return.

 

[Cammmpbell]

At least you are being honest. 9-9-9 is nothing but a shameless attempt at cutting taxes on our favored citizens because their tax rate is not "fair"

All honest people will pay less taxes? Are you kidding me? Why doesn't Cain put that in writing so all us honest people can come forward?

Fair is not just the nearly 50% paying no taxes. It is also corporations like GE that paid zero tax. Or the fact than a lot of rich people use the little loop holes to get around paying taxes. And yes there are people that work under the table and pay no taxes.

is Cain now claiming to kill Social Security and Medicare Taxes? That's news to me. How does one magically stop buying when Cain is taxing everything you spend money on....Food, housing, electricity, healthcare, car expenses

That was in the plan from the beginning. Perry's and Gingrich's plans also eventually eliminate the payroll tax.

Adding 9% to the cost of everything you buy is, by definition, inflation.

We can not be certail the total the percentage will go up. There are some prices of items that will go down as some business costs will go down also. When I lived in Alabama I paid a nearly 10% sales tax. To be honest never noticed it really. Now I live in Miami and when I go to Alabama even with the tax everything is cheaper. That is because all the property tax in florida is put into the prices of items. Taxes always end up at the end in the pricing.

Yeah but when a guy who makes $1500 a month has to pay 9 1/2% sales tax, payroll tax, gasoline tax, fees on everything from his auto registration to his phone bill it's a high percentaqe of his disposable income. A guy making $250,000 ignores most of that stuff like it didn't even happen. The reason...a helluva lot more disposable income.

A true flat tax would be an percentage of gross pay which would cover all other taxes and each person would be taxed at exactly the same percentage of their gross. It wouldn't make any difference for long though because the first Republican administration would figure out a way to ease the tax on the upper 5%. That's where they get money to finance their campaigns.

 

[miami_thomas]

You'd still be paying an individual flat tax.

Yes Cain's plan is a flat and fair tax combination. But his plan ends in a fair tax only. And no I pay around 33% even if I buy nothing. Under his plan I pay 9% and then 9% if I buy new items.

 

[miami_thomas]

]

Figure out what the ACTUAL federal tax percentage you're paying on your adjusted gross income and get back to me with what you REALLY pay.

My federal income tax rate is 28%. I pay 4.2% for social security. That is 32.2%. Then I have to add medicare 1.45%. So my tax rate is 33.65%. I have no deductions and I'm single. That is what I pay in taxes.

Minus your tax return.

That is after tax return. Before tax return my rate is 33% + 4.2% + 1.45% which is 38.65%.

 

[miami_thomas]

Yeah but when a guy who makes $1500 a month has to pay 9 1/2% sales tax, payroll tax, gasoline tax, fees on everything from his auto registration to his phone bill it's a high percentaqe of his disposable income. A guy making $250,000 ignores most of that stuff like it didn't even happen. The reason...a helluva lot more disposable income.

That is the case now. What is your point. None of that has changed. Mostly it has not change because a lot of that is state and local taxes. The 9-9-9 plan is those are the only taxes. It is to replace all the old tax code. Not an addition to the old tax code.

A true flat tax would be an percentage of gross pay which would cover all other taxes and each person would be taxed at exactly the same percentage of their gross. It wouldn't make any difference for long though because the first Republican administration would figure out a way to ease the tax on the upper 5%. That's where they get money to finance their campaigns.

Well I never really liked a flat tax as much as a fair tax. A flat tax is only paid by those who honestly report their income. On top of that it becomes easy for the government to give tax breaks to try to win corporations and certain populations over. The great things about a fair tax if you buy things you pay tax. No matter how much you make and the government can no longer give tax loop holes. But they could always say no tax for this or that item but you will probably never get rid of crony capitalism.

 

[ScienceRocks]

“I believe in empowerment zones. Most of the unemployed black Americans in this country are in these mostly economically depressed areas. It could be, and I’m only using this as an example, because we haven’t finished establishing the parameters yet. Instead of in a designated empowerment zone, it being 9-9-9, it could be, as an example only, 3-3-3.

What this does, because you have a lot of African-Americans located in cities like Detroit, disproportionately, it would encourage businesses to stay in business there or to move there. It would encourage people to work there, because if you live in the empowerment zone, you’re going to pay a smaller percentage in taxes.” Herman Cain CNN Oct. 14th

Heck, Obama isn't even going this far!

 

[rightwinger]

My federal income tax rate is 28%. I pay 4.2% for social security. That is 32.2%. Then I have to add medicare 1.45%. So my tax rate is 33.65%. I have no deductions and I'm single. That is what I pay in taxes.

Minus your tax return.

That is after tax return. Before tax return my rate is 33% + 4.2% + 1.45% which is 38.65%.

No it isn't

You pay a graduated income tax. You pay 10% on your first $8,500, 15% from $8500 to $35,000 and 25% from $35,000 to $85,000. You are only paying 28% on the amount above $85,000

You also get a standard deduction making your actual effective tax rate much lower than 28%

 

[Lonestar_logic]

My federal income tax rate is 28%. I pay 4.2% for social security. That is 32.2%. Then I have to add medicare 1.45%. So my tax rate is 33.65%. I have no deductions and I'm single. That is what I pay in taxes.

Minus your tax return.

That is after tax return. Before tax return my rate is 33% + 4.2% + 1.45% which is 38.65%.

That's a load of horse hockey!

Besides that, medicare and social security isn't tax.

 

[Cammmpbell]

All their tax plans are just hot air since none of them will be passed in congress.
Hopey changey?

Main reason...none of them are electable. What this country should do is throw all the do nothing Republicans out on their asses. Bill Clinton worked with his Republican congress, reduced the size of government, cut welfare rolls and yes sports fans...left an annual surplus with the entire national debt scheduled to be completely paid off by 2012. Then along came George.

 

[DaGoose]

It's not a "GOP" plan, it's Herman Cain's plan.

But don't let a little thing like honesty get in your way.

When he shoots up like a skyrocket among the GOP faithful because of his 9-9-9 plan it quickly becomes a GOP tax plan.

But don't let a little thing like common sense get in your way.

No it doesn't become a GOP plan.

You wouldn't know common sense if it slapped you upside your fat head.

The only thing slapping my fat head is your tongue. I'll pull it out of your mouth and zip up my pants now.

 

[DaGoose]

Does anyone know what percentage Herman Cain would pay in taxes under his 9-9-9 plan?