Cain admits 'some people' will pay more under his 999 plan

[ck4829]

Republican presidential candidate Herman Cain admitted Sunday that “some people” would pay more in taxes every year under his “9-9-9” tax reform plan.

“That’s right. Some people will pay more,” Cain told David Gregory of NBC’s Meet the Press. “But most people will pay less, that’s my argument.”

Cain’s plan throws out the current tax system by establishing a 9 percent corporate tax, a 9 percent income tax and a new 9 percent national sales tax. During a lengthy discussion with Gregory, Cain defended his plan from critics who say the plan will make lower income earners pay more.

Asked by Gregory who will pay more, Cain said, “The people who spend more money on new goods. The sales tax only applies to people who buy new goods, not used goods. That’s a big difference that doesn’t come out.”

http://news.yahoo.com/herman-cain-admits-people-pay-more-under-9-140405947.html

Ready to say goodbye to what's left of this country's consumer demand?

[The Velveteen Ocelot]

1. There goes manufacturing.

Everybody who isn't rich will be doing most of their shopping at Goodwill, looking for used stuff. Recycling and reusing is great, but this dumbass plan will pretty much kill what's left of the economy.

Not that there's a chance in Hell it will ever be enacted.

[Scuba]

2. Cain is an idiot, or a tool of the Koch brothers. Oh, I see it's both. n/t

[yardwork]

8. LOL!

Note that most of what Koch Industries produces is not easy to avoid buying. I try to boycott all products made by Koch Industries and my control is mostly limited to choosing which paper towel brand to buy. They make their billions producing raw materials that get purchased by other companies and sold up the line. If that 9% sales tax were applied to every purchase of Koch materials - the vast majority of which is not something that the public has any say in - then the Koch brothers would make even more billions in profits.

Their plan is not rocket science. It's pretty obvious.

[EdMaven]

15. hmm? the kochs don't benefit from the taxes charged on products that contain their materials.

economic theory says they would tend to make less.

[Jack Rabbit]

18. Of course both . . .

Not all idiots are tools of the Koch Brothers. but all tools of the Koch Brothers are idiots.

[Scuba]

3. Cain is an idiot, or a tool of the Koch brothers. Oh, I see it's both. n/t

[spanone]

7. cbs news...Herman Cain's long ties to Koch Brothers

(AP) IOWA CITY, Iowa - Republican presidential hopeful Herman Cain has cast himself as the outsider, the pizza magnate with real-world experience who will bring fresh ideas to the nation's capital. But Cain's economic ideas, support and organization have close ties to two billionaire brothers who bankroll right-leaning causes through their group Americans for Prosperity.
Cain's campaign manager and a number of aides have worked for Americans for Prosperity, or AFP, the advocacy group founded with support from billionaire brothers Charles and David Koch, which lobbies for lower taxes and less government regulation and spending. Cain credits a businessman who served on an AFP advisory board with helping devise his "9-9-9" plan to rewrite the nation's tax code. And his years of speaking at AFP events have given the businessman and radio host a network of loyal grassroots fans.

The once little-known businessman's political activities are getting fresh scrutiny these days since he soared to the top of some national polls.

His links to the Koch brothers could undercut his outsider, non-political image among Tea Party fans who detest politics as usual and candidates connected with the party machine.

http://www.cbsnews.com/stories/2011/10/16/politics/main20121046.shtml

[senseandsensibility]

10. You should post this as an OP

It's great info, and although this is also an informative thread, it's getting lost here. More people need to see this.

[phasma ex machina]

4. Banksters own Pizzaman the ex-Fed Governor. nt

[chelsea0011]

5. He says the solution is that we "can't keep raising taxes" !. We are not

raisnhg taxes, they have gone down. Where have you been the past decade? 2. But your policy is to raise taxes on most Americans. You are insane, Mr Cain.

[firehorse]

6. People who live in cities like NY and Chicago would have to pay almost 20% in sales tax

I'm a tiny business owner who makes hand made local jewelery, and Cain freaks me out.

First of all I'd lose all my business if I had to charge customers almost 20%.

Secondly, what would happen is an underground cash / no tax system.

Thirdly, his system would turn me into a non paid government employee who would have to donate 2 days a month to do the administration work to process the monthly collected federal tax. It's trickle down work, with no pay for the people on the bottom like me.


This plan is a fucked idea. I can see what would happen, made in china goods in a black market system would emerge displacing locally handmade honest people. Customers can't afford to pay 20% on everything they buy so they'd start buying the cheaper knock offs. This is already a huge problem, but it would put people like me who are surviving already, completely out of business, or put us in the morally comprimised position to work illegally just so we can survive.

[toddwv]

9. So as long as they can find "used" food and clothes, poor people will be fine...

Corporate shill.
Regressive tax system.
Great way to snuff out manufacturing and push the brunt of taxes onto the backs of the working and middle classes.

[hfojvt]

12. damn, I was a little too slow

but used clothes are fairly easy to find, although I find sizes to be a problem. Other than shoes, clothing is not a huge expense for me. Many poor people are probably now clothing their kids with rummage sales and hand-me-downs.

[toddwv]

17. I actually buy quite a bit from thrift stores.

Consider the clothing portion to be hyperbole.

I do still, however, prefer my food "unused".

[hfojvt]

11. this should really open up the market

for used groceries and used health care.

Only those greedy poor people thinking they can spend all their money on new groceries and health care will be left to pay.

[Hutzpa]

13. duh.

:nopity:

[Fire Walk With Me]

14. $999 tax every time a politician talks out his ass! Kick-start the economy!

[Ikonoklast]

16. Food prices would double overnight, in the very least.

Put a 9% tax on every transaction in the food supply chain, except for the "Manufacturer's Exemption" Cain would have on essential raw materials fro manufacturers; all others in that supply chain would charge a 9% tax on each service provided, with no deductions for depreciation.

Think how many times retail food is handled along the way from the field to your table.

[MrScorpio]

19. "Some people" meaning "THOSE people"

Meaning people who don't have a lot of money to begin with.

Meaning not his rich friends.

[JVS]

20. Yeah, poor people (aka 47%ers).