So we should do nothing and cling to our current corrupt broken system because any change might be corrupted later?
Do nothing is not a rational answer to our current fiscal crises.
Sorry but your analysis is wrong. please actually read the 9-9-9 plan not just assume things. VAT is completely different from what is 9-9-9. You are dead wrong to compare the two, VAT taxes every level of production. 9-9-9- taxes only final sales
You should bear that in mind yourself. I have little patience for those who can't be bothered with actually reading a comment before responding to something that wasn't written or those that believe themselves to sly enough to couch aspersion in diplomacy.
I'm aware of Cain's advocacy of the Fair Tax, and for me it's a strike against him. He's not out yet, so as far as his candidacy is concerned in my mind, it's a wait and see thing.
Apparently you don't understand that Cain's plan is a FLAT tax. You just contradicted yourself, because you said a Flat tax would be the most fair.
My problem, is that you keep the current ammendedment for income taxation, and include a sales tax, there is nothing to keep the next administration from just raising the taxes on income back up, leaving the sales tax as a true VAT tax there as well.
Ok, so I get it now. Your one of those bottom feeders (The 47% that don't have to pay any Federal income tax) and you don't like the fact that YOU and everyone else will have to contribute to the tax base with Cain's plan. Since my current tax rate is higher then 9% and I'm also paying all those extra like FICA. Under Cain's plan my take home pay will be more because I'm paying a FLAT 9% on my income.
Do you have a mathematics degree? Are you one of the top economists? If your answers are no, then who are you stay that he hasn't done his math?
If it does away with the SSI tax then, his reform plans are fatally flawed,due to the fact he would have to drastically change the SSI system, something that is beyond the scope of Presidential authority alone to do. There are way too many holes in his plan that are not addressed. Until they are all addressed and laid out clearly and concisely my position remains unchanged. However, I live in a state where we have actively fought against the imposition of a sales tax, which we have managed to get along just fine without, so why would I want to see one imposed by the Feds on a national scale, I really don't think people, that support this, that live in states that already have a sales tax have really thought that through. So in response it does not change my stance on his plan.
Yes and I have seen the "heat" you have taken for your stand. I have always looked upon the "Fair tax" as nothing more than a shell game. I honestly believe that if people want a tax that is fair, then the flat tax idea is the way to go, one percentage rate for all based on total of an individual's total income from all sources. I think that the folks that are already stuck in the SS trap should be exempted from paying taxes on that SS income if it is their only source of income. I agree with Cain on reforming the SSI system, though I cannot and do not support his tax plan.
Take your annual gross, figure out 9% of that, divide it by 26 (if you are paid every two weeks) , get a pay stub and compare the deductions on it to the 9%. Bear in mind that the 9% figure is just Federal Tax alone, it does not include other taxes and deductions you will still be paying in addition to the fed tax.
Although a 9% sales tax does not sound like much upon a cursory examination, what none of the supporters mention is the fact that the amount of money that makes up that 9% will increase to keep pace with any inflation (which we are already seeing ) ie if the cost of a good doubles, the actual dollar amount of that tax will double as well.
The 9% corporate tax will be passed along to the consumer as it always has been, and will be reflected in the costs of goods.
While new ideas are good to have, not all new ideas are good ideas.
I sure do like Cain! If Sarah doesn't run, I'd love to see Herman Cain as our next president. If she does run, I will love to see Cain as VP :-)
Having done the math on both 9-9-9 and the Fair Tax, the amount per pay period (every 2 weeks) under Cain's plan would amount to just over what currently comes out of my pay total (Fed tax,State tax,SSI etc) in just Federal taxes, then add to that the deductions for the State and others like UI and SSI, well it just is a Non-Starter for me. Thanks but no thanks, Herman.
It will not be the 9-9-9 Plus the Fair Tax, he wants the 9-9-9 plan that will lead to the Fair Tax when the Fair tax starts the 9-9-9 Stops. so you will pay less and the IRS Goes Bye Bye.
First I did not say that both would be in force at the same time, you seem to have a reading comprehension issue. The "Fair Tax" is nothing more than a shell game. If you think that the fair tax will do away with the IRS you are living in a fantasy world, as long as there are taxes to collect there will be an IRS.