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if you bothered to read the article, instead of the title of this thread, the article doesn't reflect that CNN says' its unfair. They said it was a cause for concern (how it taxes more to the poor than the wealthy) . THE PEOPLE they interviewed said it was unfair.
yes I know, but it would not suprise me if CNN did not think the same way, they always like to express their opinions rather than report the news.
if you bothered to read the article, instead of the title of this thread, the article doesn't reflect that CNN says' its unfair. They said it was a cause for concern (how it taxes more to the poor than the wealthy) . THE PEOPLE they interviewed said it was unfair.
When the rich guy buys a new car, he pays the 9% tax, a year later when i buy the same car, used, i pay no tax. It's so unfair.
and Herman Cain's plan will do nothing to the rich. Its pocket change to them. They are paying a lower rate against their income (earnings). It only hurts the poor and middle class.
Exactly, they will be spending money hand over fist, and paying the 9% consumption tax, and hiring more people due to lower costs, cuz "its pocket change to them".
The banksters like thing the way they are, cuz they can lobby for custom made tax loopholes. This 999 plan eliminates these unfair tax advantages that big money can buy.
You DO know that Cain is the bankster you espouse that are unfair?
People can get "used to" anything really. I mean, if this 9-9-9 goes through, I guess the rest of us can eventually get used to living on a lot less, since purchasing products will have more of an impact on middle and poorer than the more wealthy. With consumers not being able to afford to purchase as much, consumption goes down, business have less demand, they are forced to cut back and cut jobs and hire less, which leads to more people out of work with NO income, purchasing less, and on and on. This, while the wealthy are sitting back, feeling they got a sweet deal. It's kinda like what we have now, really.
Not sure I Agree with this, they live now under stricter requirements....(higher taxes), would also have more money in their paycheck...
Exactly, they will be spending money hand over fist, and paying the 9% consumption tax, and hiring more people due to lower costs, cuz "its pocket change to them".
No they won't. If you are rich and you are making money hand over fist you will be saving it. Once more if you are corporate and have these conditions you will do stock buybacks and pay dividends before hiring people.
I'm rebutting a claim that the 999 plan would lower costs to businesses, thereby lower costs to consumers.
There is nothing in the plan that guarantees it. Businesses will see that they don't have to pay as much taxes, and that means more profits for them.
The 999 plan doesn't make things cheaper for those who are in need of the goods.
Just look at what happened with airfares during the time when federal taxes were not/could not be collected. Did the "elimination" of those taxes lower costs to consumers? For the vast majority, no, because most of the airlines raised their fares the same amount as the tax and then pocketed the proceeds.
I think we should tax all income from all sources (wages, bonuses, inheritance, bribes, commissions, drug sales, everything else) except for a single deduction set at the 90th percentile. The tax rate schedule could be set the top 10% as they do now. The tax would be designed to cover all of the Federal Government's operating expenses, including our current and future wars, as well as paying down the debt. Eventually only capital expenses such as infrastructure would be dome on borrowed money.
Cain’s 9-9-9 proposal is, like the candidate, an absurdity.
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