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Dude ... What the hell are you talking about? Oh ... I get it, you must be one of Cain's economic advisers helping him with his "analyses" ... Do you know what inflation is? Where you here in 2008? I mean, what planet are you on?
I despise the Nine! Nine! Nine! plan. You'd know that if you had read any of the thread.
What you need to understand is that if money if finite then the people who know how to make it will concentrate it in their possession leaving everyone else holding empty vomit bags because they can't eat.
You want to keep some semblance of the American dream then you need to have an elastic money supply. It's that simple.
A 9% national sales tax would bring the total sales tax rate where I live to a staggering 18%. This obviously would have a bigger impact on the purchasing power of someone making $20k a year as opposed to $100k a year. And unlike in Canada where their GST goes to fund universal healthcare for its citizens, Americans would not even receive that benefit.
In addition, the wealthy who currently are in the 35% income tax bracket would see their rate reduced a whopping 26%. While an average Joe making $20k a year would only get a 6% reduction as their rate would fall to 9% from 15%.
Staying on subject, the 9-9-9 plan has absolutly no Social Security, Medicare or Medicaid. There would be NONE. The 1/3 of elderly in Nursing Care on Medicaid would be thrown out into the streets. None of the elderly would have medical care or Social Security Period
Nine! Nine! Nine! (spoken like a good German ) sucks. However, it should at least be stated his position on entitlements.
Quote:
Unfortunately, this has not only been to the sociological detriment of America, but also to its economic detriment. Simply, ever-expanding social programs are compromising the current and future financial stability of this great country. According to a May 2009 article in Newsweek, current projections indicate that Medicare will go bankrupt by 2017 and Social Security will bottom out by 2037. These figures are advanced from 2008’s estimates, which forecasted Medicare’s bankruptcy to occur in 2019 and 2041 for Social Security. The situation will continue to worsen if we do not do something differently.
For the generations or workers who have paid into Social Security and Medicare, the federal government’s inevitable failure to pay them as they retire is undeniably stealing. These are generations who have worked and sacrificed to leave this country a better place for their children and grand children as they retire. The current behavior of an out of control federal government does little to ease their minds.
The federal government has imposed expensive and often counter-productive social and welfare programs on the states and the people. It is time to admit the mistakes, and get the federal government out of the way. This will allow states, cities, churches, charities and businesses to offer a helping hand instead of a handout where they live. People closest to the problems are the best ones to solve the problems effectively.
We can fulfill our responsibility to our golden age citizens and future retirees by empowering them instead of restricting them.
I don't know whether 9-9-9 is fair, but the bottom line is that it would probably backfire if we were ever drunk enough as a nation to implement it. The whole plan is obviously nothing more than an election gimmick. The numbers 9 are probably pulled straight out of his ass.
A 9% national sales tax would bring the total sales tax rate where I live to a staggering 18%. This obviously would have a bigger impact on the purchasing power of someone making $20k a year as opposed to $100k a year. And unlike in Canada where their GST goes to fund universal healthcare for its citizens, Americans would not even receive that benefit.
Better yet, it would devastate small businesses, including but not limited to, the restaurant industry. If you want to kill consumer spending, Herman Cain's 9-9-9 plan is a good way to do it.
Fortunately, I don't think Herman Cain is electable. He's gotten this far because he has flown under the radar, but no more.
They currently pay nothing so a 9% income tax would be a tax increase.
This brings up probably the essence of the debate. America has what is called a "social contract" as do all developed countries. To some the social contract means that we will not let our seniors starve in the street or die from lack of proper medical care. Obviously there are other questionable programs and entitlements that are currently in great need of reform. But a social contract, none the less.
On the other hand, to a growing faction of americans the "social contract" means none of the above and that everyone should pay into the system, regardless of ability and everyone should pay the same amount. They group it under the euphamistic term, "personal responsibility".
Obviously, "social contract" means something entirely different to different political factions and when boiled down to it's essence,IS actually class warfare..
As Mrs. Perry said, "If someone tells you about 9-9-9 you'd better call 9-1-1." Bachmann said something like 9-9-9 is 6-6-6 upside down and the devil's in the details. This is one time I must agree with her. Unless you are a top wage earner Herman Cain is about to do you in. One of these 9's is for a federal sales tax. For those people who are out of work and those who earn a small salary and those that pay no wage tax everything, and I mean everything, will go up 9%. What good old Herman doesn't tell you is that his plan also included a VAT, value added tax, on materials used in manufacturing. That means that manufactures will have to raise the retail price of their products. Let's say you live in TN where you now pay a 9.5% state sales tax now tack on a 9% federal tax and the VAT cost and you have an increase of about 25% in everything you buy. Is it fair? Sure it is, that is for the top wage earners. 9-9-9 is just another way to shift the tax burden of the US unto the citizens who can least afford it.
When we look at the inactions of the republicans to get this country back on its feet one has to question the motives. It seems the tea party republicans are willing to sink the ship in order to oust President Obama. Perhaps they have a greater goal in mind and that is to bankrupt the US in order to end Social Security, Medicare and Medicaid. Herman Cain is simply another republican trying to line the pockets of the rich, himself included, at the expense of the aged, the disabled, and children. Herman Cain's 9-9-9 plan is a declaration of war against the working class and the very poorest of the nation.
A 9% national sales tax would bring the total sales tax rate where I live to a staggering 18%. This obviously would have a bigger impact on the purchasing power of someone making $20k a year as opposed to $100k a year. And unlike in Canada where their GST goes to fund universal healthcare for its citizens, Americans would not even receive that benefit.
In addition, the wealthy who currently are in the 35% income tax bracket would see their rate reduced a whopping 26%. While an average Joe making $20k a year would only get a 6% reduction as their rate would fall to 9% from 15%.
I agree on all of your points, except that I don't see how someone making $20k would see any decrease. They would more than likely see an increase. Most people making $20k don't end up paying any federal taxes and usually if they have children get a nice refund at the end of the year due to the earned income credit.
i am not sold on Cain;s 9-9-9 and certainly would be by spin debates. Also wasn't convnced at all by Obam's pan. We need to wait until we see more plans written out. the see the deabte by others on just what they think.At this poit it';s a republican deabte as it's a republican primary.If you favor anyhting close you won't see that type coming from democrats and the reverse. One thign i am for is reform of taxes to broaden the base and keep rates low along with spending cuts to bring future budgets in line with revenues and encouarge growth. Without growth we will see no really good jobs being created as being competitive is required. Gobernamnt spending sin't goigto creat anyhtig but temporary jobs and future liabilities and same decline we have seen since the 60's wealth sharing started.
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) sucks. However, it should at least be stated his position on entitlements. 
