Cain plan gets mixed reviews
Published 12:00 am Wednesday, October 26, 2011
Here are online comments made in connection with this weekís online poll question about Republican Herman Cainís 9-9-9 tax proposal:
Even as a liberal, I like the simplicity of the 9-9-9 plan. It obliterates the need for a huge IRS department. But the rest of Cainís plans are what I find offensive. He believes we live in a meritocracy, where anyone with the brains and brawn can become a millionaire. He advocates making illegally crossing into the US a summary capital offense. And he says pretty much whatever he believes will appease the Far Reich in order to attract votes.
From Darell Canup:
I really like Herman Cainís 9-9-9 plan. It would take a long time to implement but we have to start heading in the right direction. Cain is a logical man who makes decisions based on logic rather than ideals. He understand that a smaller government is the only way to get out of this mess that the last three presidents have gotten us into. It amazes me how Washington can think the way to get out of debt is to raise spending limits. Hmm try that around your house and see how it works out.
Most people (84%) will pay more in taxes under this plan. If you make less than $100,000 per year, Herman Cain wants to raise your taxes. If you are below the poverty line, Herman Cain really wants to sock it to you.
Wages will be taxed three times under this system. When you earn the money, itís taxed. Businesses will no longer be able to deduct wage expenses, so that cost will be passed onto the consumers, who will pay the sales tax on the higher cost.
Capital gains income will be exempt under this plan. This means that important job creators such as billionaire hedge fund managers and investment bankers will be living virtually tax free.