Fox News/Christian Science Monitor: 999 plan raises taxes on middle-class

[Bleach Blonde Bad Built Butch Bodies for Biden]

...while cutting them for the rich.

[Small Business Owner of Any Repute]

I know you're trying to frame this as anti-middle class, but let's be more accurate: Cain's plan cuts taxes for the rich, while raising them on everyone else, both middle-class and poor.

When Democrats, Rick Santorum, and Michelle Bachmann can all agree that something is a bad idea ... well, it's a supremely bad idea.

[Paul Kemp]

"It's ok thought because they won't be able to be raised any more!" - jmfcst

[King]

It also lays off the millions of tax lawyers and accountants and bankrupts companies like TurboTax as the two page double spaced bill of the 999 plan requires no expertise to decipher.

[Swing low, sweet chariot. Comin' for to carry me home.]

It also lays off the millions of tax lawyers and accountants and bankrupts companies like TurboTax as the two page double spaced bill of the 999 plan requires no expertise to decipher.

exactly!

[King]

It also lays off the millions of tax lawyers and accountants and bankrupts companies like TurboTax as the two page double spaced bill of the 999 plan requires no expertise to decipher.

exactly!

Economic growth!

[King]

Cain should have just stuck the FairTax.  I don't see how this possibly raises enough revenues either.  Are you telling me a 2-4% increase in taxation on people who barely make anything would be enough to replace 12-15% of the income of people and corporations who make MILLIONS a year?

[Swing low, sweet chariot. Comin' for to carry me home.]

It also lays off the millions of tax lawyers and accountants and bankrupts companies like TurboTax as the two page double spaced bill of the 999 plan requires no expertise to decipher.

exactly!

Economic growth!

yeah, just think of all the hundreds of billions of dollars in savings each year by not having to pay for personal tax accountants and lawyers and shutting down the IRS....now that money can be spent on something productive

[King]

It also lays off the millions of tax lawyers and accountants and bankrupts companies like TurboTax as the two page double spaced bill of the 999 plan requires no expertise to decipher.

exactly!

Economic growth!

yeah, just think of all the hundreds of billions of dollars in savings each year by not having to pay for personal tax accountants and lawyers and shutting down the IRS....now that money can be spent on something productive

That money goes directly to the government in the form of your tax increase.  How's your business going to do now that all your accountant customers hold a masters in a profession that doesn't even exist anymore?

999 might work if we give the economy 27 years to adjust to its damages.  But it would only increase unemployment, drive down consumption, and increase the wealth divide significantly all at once.

[Fmr. Pres. Duke]

Why is this surprising? Any flat tax acts as a regressive tax.

[Likely Voter]

Grover Norquist (king of the anit-tax pledge) also doesnt like 999, but not how it is more regressive (of course he likes that). Norquist doesnt like adding a new sales tax, pointing out to various examples of states that added new types of taxes eventually raised them.
Here is the money quote:

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http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/norquist-9-9-9-puts-three-needles-taxpayer-arm

[Swing low, sweet chariot. Comin' for to carry me home.]

That money goes directly to the government in the form of your tax increase.  How's your business going to do now that all your accountant customers hold a masters in a profession that doesn't even exist anymore?

999 might work if we give the economy 27 years to adjust to its damages.  But it would only increase unemployment, drive down consumption, and increase the wealth divide significantly all at once.

negative:  it would force Personal Tax CPA's to learn something productive (the vast majority of accountants don't do personal federal tax preparation), it would encourage savings (the only real measure of economic security) and investment, and repatriate trillions of dollars back into the US economy.

[Fmr President & Senator Polnut]

It's just plain stupid... it's so stupid, that's the only commentary it deserves.

[Swing low, sweet chariot. Comin' for to carry me home.]

Grover Norquist (king of the anit-tax pledge) also doesnt like 999, but not how it is more regressive (of course he likes that). Norquist doesnt like adding a new sales tax, pointing out to various examples of states that added new types of taxes eventually raised them.
Here is the money quote:

You must be logged in to read this quote.

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/norquist-9-9-9-puts-three-needles-taxpayer-arm

can't he count?  we ready have three:  income, social security, and corporate, and all three can be raised....

[Swing low, sweet chariot. Comin' for to carry me home.]

those stats can't be right, cause according to Obama, the rich already pay the less in taxes than the middle class.

[Bleach Blonde Bad Built Butch Bodies for Biden]

those stats can't be right, cause according to Obama, the rich already pay the less in taxes than the middle class.

You completely misunderstood what he said.

[Averroës Nix]

You completely misunderstood what he said.

Willfully misinterpreted might be a fairer way of putting it.

[🐒Gods of Prosperity🔱🐲💸]

...while cutting them for the rich.

is this based on a calculation where the middle class spends more of their income than either the poor or the rich?

[Bleach Blonde Bad Built Butch Bodies for Biden]

...while cutting them for the rich.

is this based on a calculation where the middle class spends more of their income than either the poor or the rich?

I would assume so.  But if Cain's plan does what it's suppose to do, all the rates should be at 9%.

[🐒Gods of Prosperity🔱🐲💸]

...while cutting them for the rich.

is this based on a calculation where the middle class spends more of their income than either the poor or the rich?

I would assume so.  But if Cain's plan does what it's suppose to do, all the rates should be at 9%.

Not if you include the 9% sales tax.

[Averroës Nix]

...while cutting them for the rich.

is this based on a calculation where the middle class spends more of their income than either the poor or the rich?

I would assume so.  But if Cain's plan does what it's suppose to do, all the rates should be at 9%.

Not if you include the 9% sales tax.

And the 9% VAT

[King]

Perhaps there is reason why our tax code grew to be so complicated and full of exceptions and special rules.

[Swing low, sweet chariot. Comin' for to carry me home.]

...while cutting them for the rich.

is this based on a calculation where the middle class spends more of their income than either the poor or the rich?

I would assume so.  But if Cain's plan does what it's suppose to do, all the rates should be at 9%.

Not if you include the 9% sales tax.

And the 9% VAT

there is no 9% VAT in 9-9-9

[True Federalist (진정한 연방 주의자)]

Grover Norquist (king of the anit-tax pledge) also doesnt like 999, but not how it is more regressive (of course he likes that). Norquist doesnt like adding a new sales tax, pointing out to various examples of states that added new types of taxes eventually raised them.
Here is the money quote:

You must be logged in to read this quote.

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/norquist-9-9-9-puts-three-needles-taxpayer-arm

For once I can agree with Norquist, but not for his reasons.  There are too many vested interests for the various exceptions and loopholes in income tax to be repealed wholesale unless our fiscal mess was a lot worse than it is.  Adding a sales tax merely gives more places for loopholes and exceptions to be found.

[Averroës Nix]

And the 9% VAT

there is no 9% VAT in 9-9-9

From Cain's website:

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What else would you call that? It's certainly not a corporate income tax.