actually i think the opposite. a 9% sales tax is a larger percentage of the income of the poor than it is the rich and more unfair than current - whereas the 9% income tax is more fair than the current system. further, most sales tax currently go to the state - so would this be an ADDITIONAL 9% federal sales tax?
i would like to see a sales tax around 3%, 15% income tax with no exemptions, and an end to all government subsidies including oil, solar, beef, and corn.
Yeah, I doubt a plan to raise taxes on the poor and middle class is ever going to pass... In case, Herman Cain has missed it (as Republicans seem to have), the public is overwhelming demanding that we raise taxes on millionaires and billionaires - not cut their taxes from 33% to 9%.
"Economists say generally people who make less money spend a larger share of their income on food and other essentials. Cain suggests that even if this is true, they can change their behavior and purchase more used items."
The income tax as well does not include state taxes, so the plan isn't as good as you might think.
Here in Oklahoma, I pay over 15% federal income tax and 8.71% sales tax, so it would be good for me, but it's not really fair to those in states who do not pay a sales tax.
to my knowledge, there is progressive tax, flat tax, and regressive tax.
Right now, the US is progressive in its tax structure as the rate in which you contribute increases as income increases. A regressive tax structure would have the rate in which you contribute decrease as your income increases. A flat tax does neither - the rate in which you contribute is independent of the income.
Maybe i am incorrect, but that's my interpretation of the definitions of regressive, progressive, and flat tax systems.
How about a closer look at the 1% income tax on the rich grew to include all income earned in the US (and abroad)? Or maybe a closer look at how the tax code has grown (again) despite the simplification in 1986? Or how Obama ignored his own bi-partisan commission who recommended fundamental changes to our current tax code?
Flat income taxes are regressive and dont work well generally. Whereas a sales tax is consumption based and it would be fairly easy to make exceptions for the very poor like we do in Canada. Deals would have to be made with individual states for harmonized sales taxes like we do in Canada.
Everyone does contribute to the system but those who benefit the most from that system and who have the resources to spare should pay more. That is how every tax system in the industrialized world works. No one earned their wealth in a vacuum, they did it in an environment of stability and with the infrastructure which taxes created.
lukemansilloOct 18, 2011Buried
No one can seriously be considering it?
double979Oct 18, 2011Buried
not to be confused with Dominos' 5-5-5 deal.
chilidogsOct 18, 2011Buried
Lower taxes for the rich and higher taxes for the middle class and poor. Isn't that the same plan republicans have always had?
chilidogsOct 18, 2011Buried
There are people who are really really stupid and will do anything for the approval of people who they think are better than them.
UncleRuckuOct 18, 2011Buried
Reports: Cain spends campaign cash to buy his book
http://dallaspenn.com/pics/albums/blacklove/the_uncle_ruckus_show.jpg
ikorkyiOct 18, 2011Buried
actually i think the opposite. a 9% sales tax is a larger percentage of the income of the poor than it is the rich and more unfair than current - whereas the 9% income tax is more fair than the current system. further, most sales tax currently go to the state - so would this be an ADDITIONAL 9% federal sales tax?
i would like to see a sales tax around 3%, 15% income tax with no exemptions, and an end to all government subsidies including oil, solar, beef, and corn.
concusionOct 18, 2011Buried
that's a great deal
austinjameshereOct 18, 2011Buried
Yeah, I doubt a plan to raise taxes on the poor and middle class is ever going to pass... In case, Herman Cain has missed it (as Republicans seem to have), the public is overwhelming demanding that we raise taxes on millionaires and billionaires - not cut their taxes from 33% to 9%.
esc27Oct 18, 2011Buried
"Economists say generally people who make less money spend a larger share of their income on food and other essentials. Cain suggests that even if this is true, they can change their behavior and purchase more used items."
Used food. Somehow that doesn't sound good.
upnorthgirlOct 18, 2011Buried
On the petty side - I had a good chuckle with the photo used. Cain really hammed it up for that camera, ignoring the person whose hand he was shaking.
nickymouseOct 18, 2011Buried
Herman Cain's response
http://www.northstarwriters.com/2011/10/16/9-responses-to-9-false-attacks-on-the-9-9-9-plan/
FPSmotoOct 18, 2011Buried
The income tax as well does not include state taxes, so the plan isn't as good as you might think.
Here in Oklahoma, I pay over 15% federal income tax and 8.71% sales tax, so it would be good for me, but it's not really fair to those in states who do not pay a sales tax.
ikorkyiOct 18, 2011Buried
to my knowledge, there is progressive tax, flat tax, and regressive tax.
Right now, the US is progressive in its tax structure as the rate in which you contribute increases as income increases. A regressive tax structure would have the rate in which you contribute decrease as your income increases. A flat tax does neither - the rate in which you contribute is independent of the income.
Maybe i am incorrect, but that's my interpretation of the definitions of regressive, progressive, and flat tax systems.
markglOct 18, 2011Buried
Yeah a level playing field. Is that so hard to have? Everyone contributing to the system.
chilidogsOct 19, 2011Buried
What a well thought out response.
phillymozartOct 18, 2011Buried
How about a closer look at the 1% income tax on the rich grew to include all income earned in the US (and abroad)? Or maybe a closer look at how the tax code has grown (again) despite the simplification in 1986? Or how Obama ignored his own bi-partisan commission who recommended fundamental changes to our current tax code?
concusionOct 18, 2011Buried
he literally wants us to eat s**t
jaythewiseOct 18, 2011Buried
Flat income taxes are regressive and dont work well generally. Whereas a sales tax is consumption based and it would be fairly easy to make exceptions for the very poor like we do in Canada. Deals would have to be made with individual states for harmonized sales taxes like we do in Canada.
chilidogsOct 18, 2011Buried
Everyone does contribute to the system but those who benefit the most from that system and who have the resources to spare should pay more. That is how every tax system in the industrialized world works. No one earned their wealth in a vacuum, they did it in an environment of stability and with the infrastructure which taxes created.
http://www.ctj.org/pdf/taxday2009.pdf