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Cain tax will not work until he address the problem with Federal Reserves. Which he already said he will not touch.
With if the tax rate is change to 0/0/0 and Federal reserves just give us like 50% inflation every year is same as tax 50%, but worst as it tax on all income and saving.
If they lowered the rate to 9%, but ALSO eliminated many of the deductions, then returns would be a lot simpler. Simpler returns would mean less audits and less manhours. Some if not most of the 47% of the deadbeats that pay no income tax do file returns, but usually get refunds. Perhaps, Cain's plan would call for contrib from them too. Maybe IRS would be status quo due to all of these factors.
Simpler returns don't mean less revenue agents, less auditors or less revenue officers. They just mean easier income tax return audits so they can audit more people.
You are thinking individual income tax, though, not national sales tax. You are fooling yourself about less audits. Who do you think the IRS will audit to ensure the sales tax is being reported, reported in full and reported correctly? Businesses would be targeted and then they may come after the individuals if they didn't pay sales tax to the business. And don't just think business to consumer but business to business. Company A buys parts from Company B then Company B charges a tax to Company A. Then Company A sells their product to you so another round of sales tax reporting. There will be mountains of new regulations, tons of enforcement (both collections and examininations/audits), new forms and instructions, new programming that would have to be done.
The IRS has many functions, not just audits/examinations: Collections, Processing, Customer Service, Criminal Investigation, data processing, etc. If a whole new big tax is being added, a national sales tax, we are talking about a whole new division of the IRS. We're talking massive hiring in Headquarters, field offices, and processing centers because the tax will touch everyone, unlike, for example, the estate tax.
Adding a national sales tax benefits another two groups, too: Lawyers and Accountants. If they aren't screaming that income tax will be simplified (and they are the reason it has been promised by politicians but never happens) it's because they will be licking their chops that a national sales tax will be added, plus it won't be seasonal work.
Guess who it doesn't benefit? The small businessman who provides jobs and will now have to keep massive records, file more returns, pay more taxes, pay more to accountants and lawyers, deal with more regulation and the IRS. I don't see them supporting Herman Cain.
One more thing, when have you known any sales tax to not get raised?
Tell me if I'm wrong here. Herman Cain does not want to get rid of the income tax. He just wants to lower the rate to 9 percent plus he wants to add a 9 percent national sales tax.
Well, if we aren't getting rid of the income tax, we're just lowering the rate, plus we're adding a national sales tax that we don't have now, doesn't that mean the size of government will have to get bigger, specifically the IRS? They are going to have to add a whole new sales tax division that they don't have now. We're talking A LOT of new government employees here. But lowering the income tax rate to 9 percent doesn't mean the IRS needs less bodies in the individual income tax division. They'll still need the same amount of people.
So, is Herman Cain increasing the size of government? Specifically, is he making the IRS bigger not smaller?
Yes he is for GINORMOUS government! He is a status quo guy through and through!
He also doesn't think Americans should be free as he's not in favor of repealing the Patriot Act .......and don't forget he was a bankster at the Federal Reserve Bank in KY and he SUPPORTED THE BAILOUTS and he'd continue to let the Federal Reserve control the money supply so we could look forward to more stealing by the Fed and endless inflation with King Cain..... and further reduced standard of living!
Sounds like a great option (not).
The choice is simple folks. You have to ask yourself. Do you want a FREE country and increased standard of living or not? There are only a few candidates who will deliver on those things. If you want freedom you need to vote for the candidates who have a track record that indicate they follow through on promises.
I don't know about anybody else but I do know that no senior, living on fixed income, unless brain dead, is going to vote for Cain and his 9% federal sales tax. I may be senile but I can still count and any way you cut it, it's a 9% decrease in available income for fixed income seniors.
Where is his plan to cut the size of the bloated government?
Nothing?
What is his grand plan for Afghanistan? Iraq? Libya? Iran?
What is his stance on equal & unequal free trade?
Illegal alien parasites?
I'll tell you what it is:
Quote:
CAIN: I'll make the deal with you. The next time I come, I will have a specific point for you.
.....
CAIN: Eliot, I can't tell you how much we need to cut this year until I look at the programs in detail as a person who has access to all the information .....
CAIN: No, I'm not going to say what I would do in a crisis that I would not have allowed to happen.
I just want to say that I'm looking to pay ONE tax not two that will be fair and be charged to everyone. It shouldn't be a jobs killer because of a burden placed on business. A flat tax is fine by me, not two taxes.
I just want to say that I'm looking to pay ONE tax not two that will be fair and be charged to everyone. It shouldn't be a jobs killer because of a burden placed on business. A flat tax is fine by me, not two taxes.
Would a Flat Tax allow elimination of the IRS? I worry about a plan which does not eliminate the IRS since it could again grow and metastasize into the mess we currently have, as with anything our government does. The Fair Tax doesn't tax income, but is a national sales tax, eliminating the IRS. I don't care for either, but at least with the Fair Tax you would have control over the money you earned and able to make the decision on whether you could afford a purchase or not.
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