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’999′ Plan Would Cause Largest Deficits Since WWII, While Increasing Taxes For Most Americans
Quote:
So Cain’s plan — which has earned accolades from the likes of supply-side guru Art Laffer — would explode the deficit, while increasing taxes on the poor to pay for a giant tax cut for the rich. As Center for American Progress Vice President for Economic Policy Michael Ettlinger put it, the plan “would be the biggest tax shift from the wealthy to the middle-class in the history of taxation, ever, anywhere, and it would bankrupt the country.”
As others have said...Cain should stick to selling pizza, because no one in their right mind is going to buy into this garbage.
.................. right. Obviously, Obama should have stuck with being a community organizer. The nation has suffered, as this did not happen.
Cain is an experienced administrator and leader, which is more than we can say for Obama.
Now who did you vote for in 2008? If the answer is "Obama" perhaps you are not the best person to ask as far as who would be a good president. Your track record is poor.
Deficits aside...I can't get behind the plan because it opens up a new tax revenue stream to government pilferer's and squanderer's. I simply do not trust government enough to believe that a tax rate would stay unchanged (obviously).
So if Cain is elected, we'll have the largest deficits since World War II. If Obama is elected.....oh, we'll have the largest deficits since World War II.
The parent earning $12 earns $480/week and has $74.68 deducted from their weekly payroll check. That's 15.55% so it seems to me that a sales tax of 9% would actually give them more money. Even if it were all taxed @ 9% they would have a net $74.68-($43.20+$20.88)=$10.60/week more money to spend.
The $20.88 is Michigan state income tax.
The $10/hr parent would have $5.29/week MORE to spend.
How is this shifting the tax burden from the rich to the poor if people on an income such as this receive more money and not less?
So if Cain is elected, we'll have the largest deficits since World War II. If Obama is elected.....oh, we'll have the largest deficits since World War II.
that's why Ron Paul is the only option if you want to save the country
But the number is one digit and repeats itself! It has to be great, it's so simple!
Man, this is funny to watch.
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’999′ Plan Would Cause Largest Deficits Since WWII, While Increasing Taxes For Most Americans
