9-9-9

Here's an idea:

Keep our crummy tax code, but be given the choice on how you want to allocate it. For example, !0% to defense, 2% to farm programs, nada to Eductionn and Energy Depts., etc.

Then each govt. agency has to figure out either how to get more money (how' bout by doing their jobs better and cut out waste) or live within the taxpayers allocations.

Seneca
 
Quote from seneca_roman:

Here's an idea:

Keep our crummy tax code, but be given the choice on how you want to allocate it. For example, !0% to defense, 2% to farm programs, nada to Eductionn and Energy Depts., etc.

Then each govt. agency has to figure out either how to get more money (how' bout by doing their jobs better and cut out waste) or live within the taxpayers allocations.

Seneca
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yeah, then the lobbyists would be lobbying me!
 
Quote from seneca_roman:

Let's look at a few comparisons:

Poor Family of 4 earning $30K

current tax code:they get $5630
refund because of various credits granted to low income family.

9-9-9 They will pay $4920 in income and federal sales taxes.

****************************************
Moderate family of 4 earing $65K:

Current code, they owe $4300.

9-9-9 they owe $10895 in income and sales taxes.
*********************************************

Rich Guy, family of 4, making $250000

current code: he owes $45700, probably less as I assumed no deductions other than some modest mortgage, property tax, and some day care.

9-9-9 owes $41140

Seneca

9-9-9 calculator at:
http://www.nerds4cain.com/Blog/archives/723
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250000 a year is not rich to me its a good living in the tri state though. the 999 helps people who make the real big bucks it does not help 90% of america.
 
it wasn't covered in the debate, but afterwards with Anderson Cooper, Cain explained used goods are not taxed, because they were already taxed when they were made.

When I heard the idiotic things the crowd cheered for I had to think if traders who deal with numbers every day are confused, there is no way the general population is going to vote for him because of 999.

The best way to win is never mention anything about taxes or cutting spending and just act tough against every country people fear because they don't understand.

They don't know anything about Iranians, but they want a president who will get rid of their leader, and they want to help Isreal because the Bible told me so.

They do know the Federal Reserve is bad because they don't understand it.

I would just say, give me a list of everything people don't understand and fear and I am against it.
 
Quote from oldtime:

it wasn't covered in the debate, but afterwards with Anderson Cooper, Cain explained used goods are not taxed, because they were already taxed when they were made.
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True.

Although Bimbette Bachmann didn't help herself by fumbling what should have been a concise attack, she did manage to get the point across that his 9-9-9 plan is flawed when it comes to taxing finished goods even when they are not sold to the retail channel.

Never mind the passed along taxes for something like a car. Think about the impact of assembled products that are used to produce finished goods.

As evil as income taxes are, they're a lesser evil than output taxes on finished goods would be.

What needs to be put in place is a floor on income taxes. Corporations and people who exceed a certain income level lose the benefit of tax breaks.

Same goes for entitlements. Once you've exceeded a certain lifetime cumulative income you're no longer able to receive a benefit.

What we need is a system that's computationally simple, not sound-bite simple.
 
Quote from jprad:

True.

Although Bimbette Bachmann didn't help herself by fumbling what should have been a concise attack, she did manage to get the point across that his 9-9-9 plan is flawed when it comes to taxing finished goods even when they are not sold to the retail channel.

Never mind the passed along taxes for something like a car. Think about the impact of assembled products that are used to produce finished goods.

As evil as income taxes are, they're a lesser evil than output taxes on finished goods would be.

What needs to be put in place is a floor on income taxes. Corporations and people who exceed a certain income level lose the benefit of tax breaks.

Same goes for entitlements. Once you've exceeded a certain lifetime cumulative income you're no longer able to receive a benefit.

What we need is a system that's computationally simple, not sound-bite simple.
More...
well, things are already taxed all along the way. The miner gets taxed, the refiner gets taxed, the assembly man gets taxed and the salesman gets taxed. If they're all at 28% who knows how many times the goverment got a 28% cut on a new car. Taxing people makes more sense to me than taxing things.
 
Quote from oldtime:

well, things are already taxed all along the way. The miner gets taxed, the refiner gets taxed, the assembly man gets taxed and the salesman gets taxed. If they're all at 28% who knows how many times the goverment got a 28% cut on a new car. Taxing people makes more sense to me than taxing things.
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We agree on income tax, but you're mistaken with the way things are when it comes to sales tax.

If you have a resale certificate you are not charged tax on the purchase of wholesale goods. Finished goods are only taxed once, at the point of final purchase at the retail level.

You're also not charged sales tax on items that are purchased to produce finished goods.

There's a billion other exemptions to sales tax, but the manufacturing channel is the biggie and the Achilles Heel in Herman's plan.
 
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