999=666

[thorski]

Is Hermain Cain's 9-9-9 plan good, or the work of the Devil?
At the very least he is coming up with a plan for Americans to talk about. I wonder if it could get past the ancient fears of the Christians and their silly God vs. Satan thing, the Antichrist and all that folklore.

[Coydog]

Cain actually proposes the 9-9-9 plan as a step towards implementing a national sales tax ("fair tax") only system. In principle, I very much like the fair tax only idea, but Cain does not provide details on how his system would work – particularly how to make the system less regressive for lower income earners.

In terms of the phase one 9-9-9 plan, in exchange for simplicity, it reduces taxes on the rich while taxing the poor more – standard GOP tax philosophy. He claims the poor will make out despite the 9% national sales tax because the lower 9% corporate tax will cause companies to reduce prices rather than return larger, tax free profits to shareholders.

Also, I think if 9-9-9 was somehow legislated, it would be nearly impossible for Congress to give up on the income tax portion. So instead of progressing to a fair tax only system, we would surely suffer under a 20-20-20 plan or worse.

From what I’ve read, 9-9-9 is very poorly designed, but I applaud Cain’s creative thinking and his ability to bring the fair tax into the discourse.

[Streamtracker]

He claims the poor will make out despite the 9% national sales tax because the lower 9% corporate tax will cause companies to reduce prices rather than return larger, tax free profits to shareholders.

Reduce prices? LIke what happened when MA dropped the booze tax and the elevated prices stayed the same. Did I mention, he also tried to sell me a bridge.

[Dr. NO]

While I think the current income tax sucks, I agree on the 9% sales tax being a problem. Unless there are tax free items up to a specific cost, then the poor and working class will suffer from this. Imagine buying your clothes in a state that charges 6% sales tax and then dropping another 9% on top of that. Lower income families would be hurting even more under such a plan. They would also be hurt if there isn't a minimum income for even a 9% income tax. A large group of low income families pay no tax or get all of the paid taxes back at the end of the year. A flat tax with no deductions would hurt this group a lot.

[DMC]

Dosesn't matter..
He's unelectable..

And makes a crappy pizza...

[Puck it!]

He is back!

[thorski]

Cain actually proposes the 9-9-9 plan as a step towards implementing a national sales tax ("fair tax") only system. In principle, I very much like the fair tax only idea, but Cain does not provide details on how his system would work – particularly how to make the system less regressive for lower income earners.

In terms of the phase one 9-9-9 plan, in exchange for simplicity, it reduces taxes on the rich while taxing the poor more – standard GOP tax philosophy. He claims the poor will make out despite the 9% national sales tax because the lower 9% corporate tax will cause companies to reduce prices rather than return larger, tax free profits to shareholders.

Also, I think if 9-9-9 was somehow legislated, it would be nearly impossible for Congress to give up on the income tax portion. So instead of progressing to a fair tax only system, we would surely suffer under a 20-20-20 plan or worse.

From what I’ve read, 9-9-9 is very poorly designed, but I applaud Cain’s creative thinking and his ability to bring the fair tax into the discourse.

15-25-0
Eliminate Corporate tax all together. Breeds nothing but corruption and loopholes anyway.

[XtremeJibber2001]

Based on what I've read it would actually take more money out of the average American's pocket. If you consider the ~22% of all American's who pay no (income) taxes it would hurt them most (e.g., the poor). In one way or the other this tax would benefit the rich the most.

[JerseyGuy]

Based on what I've read it would actually take more money out of the average American's pocket. If you consider the ~22% of all American's who pay no (income) taxes it would hurt them most (e.g., the poor). In one way or the other this tax would benefit the rich the most.

In other words... it's the perfect GOP economic plan for rich GOP supporters who will (as always) benefit the most and poor GOP supporters who will (as always) stupidly vote against their own economic self-interest.

Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.

-John Steineck