Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Again another poll so skewed there is no way to vote. Why does the OP troll thusly when he/she could actually create a decent and substinative poll?
While I agree with the 9% consumption tax proposed by Cain I do not agree with it in conjunction with a federal income tax. I believe in a consumption tax in place of income and estate taxes. Before he came up with his 999 plan Cain also endorsed such a plan.
The "poor" appears to be the 47%+ who pay no federal income tax but whose representatives legislate their consitituents more and more entitlement money from those who do pay federal income tax. They are also that portion of society which require more public services and resources.
A consumption tax might make those who vote themselves money take a second look when they realize it will also affect their bottom line (financially speaking). Of course, the entitlement mentality is just as difficult to overcome as convincing a crack addict that one more high won't solve his/her problems.
Again another poll so skewed there is no way to vote. Why does the OP troll thusly when he/she could actually create a decent and substinative poll?
While I agree with the 9% consumption tax proposed by Cain I do not agree with it in conjunction with a federal income tax. I believe in a consumption tax in place of income and estate taxes. Before he came up with his 999 plan Cain also endorsed such a plan.
The "poor" appears to be the 47%+ who pay no federal income tax but whose representatives legislate their consitituents more and more entitlement money from those who do pay federal income tax. They are also that portion of society which require more public services and resources.
A consumption tax might make those who vote themselves money take a second look when they realize it will also affect their bottom line (financially speaking). Of course, the entitlement mentality is just as difficult to overcome as convincing a crack addict that one more high won't solve his/her problems.
This is talking about total taxes paid, not just federal income taxes. There is no group of people in this country that has a negative effective tax rate when you include local taxes, sales taxes and the payroll tax. As the chart shows (if you trust the CSM), the poor will see a tax increase while the wealthy will get a massive tax cut.
In my mind, the biggest problem with our tax code is all the loopholes and deductions. Cain's 9/9/9 plan would supposedly close those loopholes, and that's a good thing, because those loopholes distort economic decision making, which causes malinvestment and kills jobs.
However -- the second-biggest problem with our tax code is that we rely too heavily on taxing wages instead of wealth (or wealth gains, or wealth disbursement). Poor and middle class people get most of their annual income through wages, rich people get most of their annual income through dividends and capital gains. Cain's plan eliminates dividend taxes, capital gains taxes, and inheritance taxes -- therefore you'd basically be exempting rich people from taxes, and that's a horrible idea.
The chart, as shown, is irrelevant to me. I think showing the "rich" as $300k/year earners is stupid and misleading. The rich are not defined by their annual income, and even if they were, $300k/year isn't rich.
Don't you find it ironic that this guys name is workingclasshero yet the only thing I see him agree with are things that will benefit the rich and hurt the poor such as Cain's 999 plan?
Don't you find it ironic that this guys name is workingclasshero yet the only thing I see him agree with are things that will benefit the rich and hurt the poor such as Cain's 999 plan?
WCH is one of those self-defeaters who blames himself for not paying zero dollars in federal income tax, and carries that "taxed enough already" banner.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
