Herman Cain's 9-9-9 tax reform plan

Discussion in 'The Thunderdome' started by CardinalVol, Oct 3, 2011.

  1. CardinalVol

    CardinalVol Mod in Glass House

  2. volfanjo

    volfanjo Chieftain

    The problem with any flat income tax is also scrapping the tax credits, deductions and other loopholes that the progressive system allows smart and creative people to manipulate. Flat taxes have only worked in developing economies with weak -- or non-existent -- progressive systems. Now, a number of states have flat taxes currently on the books, but states don't have near the complexity of the federal tax code.

    I'm not opposed to it, but many people are addicted to the tax refund they receive in April. In a true flat tax -- at least as it was proposed years ago by Hall-Rabushka -- those things would go poof.
     
  3. JZ1124

    JZ1124 Contributor

    I like Herman Cain at this point.
     
  4. IP

    IP Grusader Knight Errant of the 8th Order

    Would a flat sales tax ultimately raise the same amount of money? If so, how could it NOT be pushing more of the burden on the poor? Just asking genuine questions, not wanting to start a pointless political posturing thread.
     
  5. CardinalVol

    CardinalVol Mod in Glass House

    Given what I have read, first there wouldn't be a payroll tax of 6.2%, so that would help. Second, I can't imagine any scenario where this would not have an exemption amount. Third, most of the working poor, through the earned income credit, really don't even pay hardly anything now because that 6.2% is largely offset.

    While I get the argument, you are essentially taking their overall tax burden from 0% to 2 or 3%. I'm sorry, that's not exactly grounds to call in Robin Hood.
     
  6. fl0at_

    fl0at_ Humorless, asinine, joyless pr*ck

    This be the problem; or the heart of the matter. The Federal government needs to shrink, and become less complex in need and nature.
     
  7. IP

    IP Grusader Knight Errant of the 8th Order

    No it's not, Cardinalvol. I was just asking because I didn't know.
     
  8. Beechervol

    Beechervol Super Moderator

    This.
     
  9. Snakeonia

    Snakeonia Active Member

    you also have people who make up to 50k a year who don't pay fed. taxes which is a joke and some of them get tax refunds. for what? they didn't pay shit
     
  10. CardinalVol

    CardinalVol Mod in Glass House

    I would rather deal with the most complex federal return imaginable than do a ca, ny, nj, or mi corp return. They are a mess.

    More and more states are also adopting a multiple tax rate system too.
     
  11. Beechervol

    Beechervol Super Moderator

    "That dog won't hunt".

    -Herman Cain
     
  12. volfanjo

    volfanjo Chieftain

    I'm just talking about personal income taxes. I can't speak for corporate rates.
     
  13. JayVols

    JayVols Walleye Catchin' Moderator

    Last edited by a moderator: Oct 13, 2011
  14. droski

    droski Super Moderator

    i'm a fan of his tax plan though i can see teh "screwing the poor" argument. i believe europe has a vat refund for low income people. we could do the same.
     
  15. fl0at_

    fl0at_ Humorless, asinine, joyless pr*ck

    Is the Federal sales tax on top of state sales tax?
     
  16. fl0at_

    fl0at_ Humorless, asinine, joyless pr*ck

    So I pay a little bit better than 18% on such luxury items as food. Well, unless someone can sell me a used hotdog.
     
  17. MG1968

    MG1968 Member

  18. droski

    droski Super Moderator

    not true when you add in subsidies.
     
  19. droski

    droski Super Moderator

    means you are witholding too much every month. has nothing to do with whether you are paying too much or too little (from a macro standpoint) in total taxes a year.
     
    Last edited: Oct 13, 2011
  20. CardinalVol

    CardinalVol Mod in Glass House

    Yeah they do. It's called the Earned Income Tax Credit for low income people.

    It's hands down the most abused portion of the tax code, but you will never hear a politican say that.
     

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