Quote:
Originally Posted by hashbrown
The 9 9 9 plan does not raise taxes on anyone. It eliminates the 15.3% payroll tax and the decrease in the corporate tax to 9% will easily allow businesses to cut prices to make up for the 9% sales tax.
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The plan absolute raises taxes on almost everyone while drastically cutting them for corporations.
The people who will bear the biggest brunt of the 999 plan are seniors on fixed incomes. They will see the prices on the goods they buy go up 9% in the blink of an eye, in many cases that would be a disaster and likely force seniors, who worked hard all their life and can get by fine today, onto the welfare roles. Once more because of deductions the average household making 50-100K a year pays less then 9% effective tax rate. They too will see their taxes rise and will, and, like seniors and everyone else, will also see the price of goods go through the roof. The beneficiaries of this policy, are corporations who will see their tax burden drop drastically, and people who are so rich the only spend a small % of their income.
Now don't get me wrong I support the fair tax, but only because the fair tax takes into account the effect it will have on rising consume prices and addresses it. Herman Cain's 9-9-9 plan doesn't.
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Lost Cain is not Abel
