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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?
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
Herman Cain's 999 Plan
Vision for Economic Growth The natural state of our economy is prosperity. Freedom ensures that.
We must get the government off our backs, out of our pockets and out of our way in order to return to prosperity.
Policy uncertainty is killing the economy.
Economic Guiding Principles
1.Production drives the economy, not spending.
◦We can not spend our way to prosperity.
◦Government spending IS taxation.
◦Government spending is like taking a bucket of water from the deep end of the pool, pouring it in the shallow end. Then they HOPE that the water level will CHANGE.
2.Risk taking drives growth .
◦Business formation and job creation are dependent on entrepreneurs taking risks.
◦Investors who fund those entrepreneurs likewise take risks.
3.Measurements must be dependable.
◦A dollar must always be a dollar just as an hour is always 60 minutes.
◦Sound money is crucial for prosperity.
We Must Unite Not Divide
When one party seeks to spend so that the other party must focus on cutting, we must unite around economic growth.
Unite all tax payers, dont divide them into income tax payers vs. payroll tax payers.
Unite those wanting to eliminate deductions with those seeking lower rates.
As a first step, unite the Flat-Taxers with the Fair-Taxers
Economic Growth is the Key
This is the worst recovery since the Depression.
If the Presidents goal was to tie for last place with the previous worst recovery, he failed by 6 million jobs.
If we had a typical recovery, 13 million more Americans would be employed today.
That means more tax revenue, less government spending and 13 million less people opposed to reasonable spending cuts.
The Super Committee must deliver a robust growth solution.
America cant wait for 2012, we need growth NOW
Phase 1 - 9-9-9
Current circumstances call for bolder action.
The Phase 1 Enhanced Plan incorporates the features of Phase One and gets us a step closer to Phase two.
I call on the Super Committee to pass the Phase 1 Enhanced Plan along with their spending cut package.
The Phase 1 Enhanced Plan unites Flat Tax supporters with Fair tax supporters.
Achieves the broadest possible tax base along with the lowest possible rate of 9%.
It ends the Payroll Tax completely a permanent holiday!
Zero capital gains tax
Ends the Death Tax.
Eliminates double taxation of dividends
Business Flat Tax 9%
◦Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders.
◦Empowerment Zones will offer additional deductions for payroll employed in the zone.
Individual Flat Tax 9%.
◦Gross income less charitable deductions.
◦Empowerment Zones will offer additional deductions for those living and/or working in the zone.
National Sales Tax 9%.
◦This gets the Fair Tax off the sidelines and into the game.
Phase 2 The Fair Tax
Amidst a backdrop of the economic boom created by the Phase 1 Enhanced Plan, I will begin the process of educating the American people on the benefits of continuing the next step to the Fair Tax.
The Fair Tax would ultimately replace individual and corporate income taxes.
It would make it possible to end the IRS as we know it.
The Fair Tax makes our exported goods and services the most competitively internationally than any other tax system.
Phase 1 Enhanced Plan Summary
Unites all tax payers so we all pay income taxes and no one pays payroll taxes
Provides the least incentive to evade taxes and the fewest opportunities to do so
Lifts a $430 billion dead-weight burden on the economy due to compliance, enforcement, collection, etc.
Is fair, neutral, transparent, and efficient
Ends nearly all deductions and special interest favors
Ends all payroll taxes
Ends the Death Tax
Features zero tax on capital gains and repatriated profits
Lowest marginal rates on production
Allows immediate expensing of business investments
Eliminates double taxation of dividends
Increases capital formation. Capital per worker drives productivity and wage growth
Capital formation will aid capital availability for small businesses
Features a platform to launch properly structured Empowerment Zones to revitalize our inner cities
We all know the Fed has tripled the money supply since 2008. They have been printing money out of thin air to finance the Obama spending machine. While true Fed reform that restores sound money may have to wait for my election, the best thing we can do now is to pursue policies that increase the DEMAND for dollars to help mitigate the risks associated with the increase in the supply.
Pro-growth economic policies equal a strong dollar policy
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.
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?
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
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.
You are aware that if you decrease tax on a business, you increase their revenue, don't you?
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?Are there any examples of developed or developing nations adopting the fair tax?
If a business is currently making $0 in profits, how does 30% more help it?
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
Under Cain's plan there will be a drop in overhead in regards to dropping the payroll taxes. However, there will be an INCREASE in overhead as everything bought by the business now has a 9% sales tax. Depending on the business in question, that could really hurt a company.
DBS is a Union Thug type...he might see it as an oppritunity for Unions to demand more dues if thier taxes are dropped...?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?
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
If a business is currently making $0 in profits, how does 30% more help it?
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
Under Cain's plan there will be a drop in overhead in regards to dropping the payroll taxes. However, there will be an INCREASE in overhead as everything bought by the business now has a 9% sales tax. Depending on the business in question, that could really hurt a company.
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.
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
Under Cain's plan there will be a drop in overhead in regards to dropping the payroll taxes. However, there will be an INCREASE in overhead as everything bought by the business now has a 9% sales tax. Depending on the business in question, that could really hurt a company.
Everything a company buys in order to do business is not included in the company's earnings. So the company will not be paying corporate tax on the stuff they buy in order to do business.
Currently the USA has the 2nd highest corporate taxes in the world--just a fraction of a percentage point below Japan who is also having problems being competitive these days and is suffering its own chronic economic downturn.
A 9% sales tax on goods and raw products necessary to do business will be far less than the massive corporate tax that business will pay if it makes a profit under the current system. Businesses that do not make a profit do not stay in business for very long.
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
Under Cain's plan there will be a drop in overhead in regards to dropping the payroll taxes. However, there will be an INCREASE in overhead as everything bought by the business now has a 9% sales tax. Depending on the business in question, that could really hurt a company.
Everything a company buys in order to do business is not included in the company's earnings. So the company will not be paying corporate tax on the stuff they buy in order to do business.
Currently the USA has the 2nd highest corporate taxes in the world--just a fraction of a percentage point below Japan who is also having problems being competitive these days and is suffering its own chronic economic downturn.
A 9% sales tax on goods and raw products necessary to do business will be far less than the massive corporate tax that business will pay if it makes a profit under the current system. Businesses that do not make a profit do not stay in business for very long.
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?Are there any examples of developed or developing nations adopting the fair tax?
That didn't answer my question.
OMG ....
WOW ....
So .. this is how it happens ...
Company goes from paying 45% to 9% ... So ... how much an increase in actual profit the company has is dependant on the gross, but come on ... you dont see a dramatic drop in "overhead"?
Under Cain's plan there will be a drop in overhead in regards to dropping the payroll taxes. However, there will be an INCREASE in overhead as everything bought by the business now has a 9% sales tax. Depending on the business in question, that could really hurt a company.
So if there's no payroll tax, how do SS and Medicare get funded?
Any new plan will have to be accompanied with the repeal of the punative tool of government known as the 16th.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?
That didn't answer my question.
Until the 16th Amendment was passed, the USA was the only country employing a true fair tax by charging everybody, rich and poor alike, certain excise taxes on economic transactions. But since the 16th Amendment, that simple and fair system has been eroding as politicians capitalized on being able to the use the people's money to enhance their own power, prestige, influence, and personal fortunes.
The USA was a grand experiment in which the federal government was intended to secure the rights of the people and then the people were free to form whatever society they wanted and would govern themselves. For the last 100 years or so, the government has been whittling away and eroding that concept so that too many of our people are totally corrupted and no longer even think along those terms.
Herman Cain's tax proposal, while not the same thing, is the closest I have seen that comes to the principles the Founders laid out as the policy.
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.
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?
That didn't answer my question.
Until the 16th Amendment was passed, the USA was the only country employing a true fair tax by charging everybody, rich and poor alike, certain excise taxes on economic transactions. But since the 16th Amendment, that simple and fair system has been eroding as politicians capitalized on being able to the use the people's money to enhance their own power, prestige, influence, and personal fortunes.
The USA was a grand experiment in which the federal government was intended to secure the rights of the people and then the people were free to form whatever society they wanted and would govern themselves. For the last 100 years or so, the government has been whittling away and eroding that concept so that too many of our people are totally corrupted and no longer even think along those terms.
Herman Cain's tax proposal, while not the same thing, is the closest I have seen that comes to the principles the Founders laid out as the policy.
Any new plan will have to be accompanied with the repeal of the punative tool of government known as the 16th.That didn't answer my question.
Until the 16th Amendment was passed, the USA was the only country employing a true fair tax by charging everybody, rich and poor alike, certain excise taxes on economic transactions. But since the 16th Amendment, that simple and fair system has been eroding as politicians capitalized on being able to the use the people's money to enhance their own power, prestige, influence, and personal fortunes.
The USA was a grand experiment in which the federal government was intended to secure the rights of the people and then the people were free to form whatever society they wanted and would govern themselves. For the last 100 years or so, the government has been whittling away and eroding that concept so that too many of our people are totally corrupted and no longer even think along those terms.
Herman Cain's tax proposal, while not the same thing, is the closest I have seen that comes to the principles the Founders laid out as the policy.
I thought you libtards have been telling everyone that Corporations don't pay taxes...?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.
If a business has $1,000,000 in costs and $1,000,000 in revenue and pays 25% corporate taxes, how much do they pay in taxes? What if that is reduced to 9% corporate taxes? How much do they pay?
