There’s a lot of stuff flying around about Herman Cain these days. In the beginning, no one took his candidacy seriously, so no one bothered to say anything about him.
Suddenly, he’s got to be taken seriously, well, cause he’s on top of the polls at the moment.
Now, I never take polls seriously. Why? Very simple. They aren’t the election. That’s the only poll that matters. If Cain doesn’t win the nomination, and then the election, all those polls are good for is fire starter when winter rolls around. Or toilet paper.
Some do take polls seriously, however. They use them to help decide who to back, or support, who they give their money to. Me, I pick the one I think is the best choice, and that’s who I back. If he drops out, I pick the best choice from what’s left.
Well, right now, Herman Cain’s “9 9 9” plan is getting the heat treatment. And rightly so. Any tax plan, regardless of where it comes from, needs to be looked at closely. Why? Well, because it’s a plan to separate you from your money. That should be reason enough. If it’s not, e-mail me, because I own a bridge you may be interested in. Hee!
Anyway, the 9 9 9 plan. Simple. 9% personal income tax. 9% corporate income tax. 9% sales tax. No capital gains, no payroll tax, no ‘death’ or inheritance tax to punish someone who worked hard, and can’t pass on even a family farm without the government being ‘entitled’ to half it’s net worth. Which no farm family in the world can do. It’s a disgrace on this nation that hard work is punished by taking the result of that hard work away from the family that built the business.
Gotta love those liberals.
Also, no more ‘marriage penalty’. How stupid is it that two people who are living together without benefit of marriage, (but with all the other benefits, if you catch my drift) pay less in taxes than an identical couple who are married. It’s completely stupid. It’s Washington D.C. stupid, that’s what it is.
Anyway, drifting again. Where was I. Oh yeah, the 9 9 9 plan.
So, a lot of people who don’t want to see a Herman Cain presidency are trying to create fear and panic in people by demonizing the 9 9 9 plan. Trouble is, it’s pretty simple, so it takes some fancy footwork to do that.
15% payroll tax, gone. Period. A 9% flat tax in it’s place.
9% corporate tax. Period. No more years where General Electric makes a reported $35 billion, that’s billion, with a B, in profits, but through a series of credits, loopholes, and write-off’s, pay $0 in taxes. That’s $0. You know, with. . .well a zero.
By my calculations, GE would have paid 3.15 billion dollars in taxes under the 9 9 9 plan. Again, that’s billion, with a B. Instead, under the current tax code, they paid nada. Zilch. Zip. Nothing.
And now, they’re using their profits to send jobs to China. Ain’t that cute?
So anyway, certain people want to tell us that the plan is completely unworkable. I’m sure GE wants us to think that, anyway. Why wouldn’t they? The chief complaint amongst the other Republican candidates is that it won’t pass.
Well, if we threaten not to re-elect Congress, I bet it does. What about that?
The main downside I see in 9 9 9 is that the sales tax will apply to food purchases. And that does suck. No way around it, it does.
But, it won’t apply to purchases of used items. Like cars, appliances, etc. There will be one tax paid on items. Period. New goods only. And, I can grow a garden. I can shop for cheaper brands.
And the Tax Code? Gone. Kaput. Finished.
But there’s more. See 9 9 9 isn’t the end. It’s just a springboard to the Fair Tax. I did some research on this, and many countries that instituted this plan seem to have done pretty well, even with the current ‘economic downturn’. That means depression for those of you that don’t understand politi-speak.
I’m including the links to the 9 9 9 plan, to a rebuttal of the most common scare tactics about said plan, and the link I found very informative on the countries that have instituted the fair tax so far, and their results.
Don’t let other people make your choice for you. Look at the evidence, and then decide for yourself. You may still object to the plan. That’s okay. That’s what’s great about America. But you’ll be doing so with the facts in hand, rather than the half-truths being thrown about by others.