Herman Cain

#178
#178
OrangeYankee said:
I think the 9-9-9 plan sounds ok in its first phase... it's the second phase that has me very wary. They eliminate two of the nines and the national sales tax can jump up as high as 28%. Outside of slamming the lower middle class, the other thing is the fact that we conservatives have been railing that taxes should equal no more than 18% of GDP. I know it won't be quite 28% of GDP but it looks to me like it'd be far more than 18...

Cain Adds To ?9-9-9? Plan, Angering Unions | Fox News

The key bit is about 13 paragraphs down:

Such a tax is widely characterized, including by the Cain campaign on its website, as “the fair tax.” When Phase One ends and Phase Two begins, this national sales tax, in becoming a fair tax, jumps considerably from its original 9 percent rate. As explained on the website fairtax.org, longtime proponents of the fair tax estimate it could reach 30 percent; Cain’s advisers put the figure at 23 or 28 percent, depending on how one runs the numbers.

Basically in ways it's a nice start, but I guess I'm more of a proponent of a "flat" income than this. I would like to see the IRS and the political hammer it is be abolished, but not to something that can be just as bad.
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I'd encourage you to dig a little deeper on the specifics of the Fair Tax.
 
#183
#183
GAVol said:
I'd encourage you to dig a little deeper on the specifics of the Fair Tax.
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And I will but honestly I'm not a proponent of the Fair tax for exactly the same reasons. I like the idea of a Flat income tax much better. IE everyone pays 10% of their earned income at the end of year. No matter if you earned it as wages/salary or from investments. To me that is the fairest way of all.

A sales tax seems hardly fair simply due to the fact that as you get poorer the actual raw percentage of income that would go towards taxes would sky rocket. Now, I will follow up that statement with this: I have no idea what the over all reaching plan of the Fair Tax folks are. They could have provisions in for those who make less and less money.
 
#185
#185
Oh wow just watched that commercial... and um wow? I'm a smoker and that commercial made me squirm a bit uncomfortably in my chair..
 
#186
#186
OrangeYankee said:
A sales tax seems hardly fair simply due to the fact that as you get poorer the actual raw percentage of income that would go towards taxes would sky rocket.
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That's a very valid concern. My understanding is that the plan combats that with a "Prebate" that is indexed to the poverty line to make sure that nobody is taxed on basic necessities.
 
#187
#187
Right and that's great and all for the people who do need it most no doubt. But I am square in the middle class as it stands. We aren't wealthy by any means but we are pretty comfortable and if my sales tax (state and federal combined) jumped up to 40% it'd be a pretty significant tax increase. And I can only imagine what it'd be like for those households that aren't quite poverty level but not exactly having a whole lot to spare each Friday either. And I do think having food and clothing items not taxed would go a long way in alleviating that fear. I just really wish that they would explore the Flat income Tax, with a constitutional amendment capping it right away of course, and that may be the sticky part. But in my opinion they really need to do that with the Sales Tax too.
 
#189
#189
GAVol said:
That's a very valid concern. My understanding is that the plan combats that with a "Prebate" that is indexed to the poverty line to make sure that nobody is taxed on basic necessities.
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You are correct. It has some 'features' that result in poor people essentially paying no taxes. This leads to a scenario where the wealthy keep most of their money since it isn't used for consumption, the poor pay next to no taxes and those in the middle pay the most (proportionately). Fair tax < Flat tax.
 
#190
#190
Wow if that ran on TV that means some advertising guy said "Ya, that will work." But then again target demographics and all...
 
#191
#191
I'm guessing it's a case of small budget = buzz-worthy commercial that will have a viral impact and get lots of coverage. Risky given the oddness but it may be the only hope they have to gain more name awareness and attention on a shoestring budget.
 
#192
#192
volinbham said:
I'm guessing it's a case of small budget = buzz-worthy commercial that will have a viral impact and get lots of coverage. Risky given the oddness but it may be the only hope they have to gain more name awareness and attention on a shoestring budget.
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I agree. Would you have heard of this commercial, much less watched it, absent the media coverage of a guy *gasp* smoking.
 
#193
#193
volinbham said:
I'm guessing it's a case of small budget = buzz-worthy commercial that will have a viral impact and get lots of coverage. Risky given the oddness but it may be the only hope they have to gain more name awareness and attention on a shoestring budget.
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Perhaps, but he could have accomplished that many other ways than featuring a guy smoking a cigarette. IMO he's targeting the blue collar work force (and perhaps the OWS participants) by sending a message that he is NOT the typical business executive and his campaign (and by extension... his presidency) will not be politics as usual... with perhaps a secondary consideration that a "buzz-worthy" add would be a side benefit.
 
#195
#195
cain-smile-frown.gif
 
#197
#197
The cheap, psuedo Hulk Hogan music is what had me laughing when I watched that ad. If this isn't a joke then I'm really confused.
 
#199
#199
I like the idea of a simplied tax code. I like the idea of changing the tax code from top to bottom.

But I just don't think it will happen. No chance. Cain, Perry, whoever. It sounds great. It may even work. But I don't believe it will ever be passed.
 
#200
#200
TheDeeble said:
I like the idea of a simplied tax code. I like the idea of changing the tax code from top to bottom.

But I just don't think it will happen. No chance. Cain, Perry, whoever. It sounds great. It may even work. But I don't believe it will ever be passed.
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in the end, I'm afraid youth right. But at least there's a conversation going on.
 
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