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Herman Cain 999 Plan is a Cut For The Rich Not Poor.

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posted on Oct, 13 2011 @ 02:13 AM
like the most NeoRepublicans that are running, Mr Cain favors increasing taxes on the poor and cutting them for the rich.His plan 999 reflects that.

Here's Bartlett's analysis
"First, the 9-9-9 plan is actually an intermediate step in Mr. Cain’s plan to overhaul the tax system and jump-start growth. Phase 1 would reduce individual and business taxes to a maximum of 25 percent, which I assume means reducing the top statutory tax rate to 25 percent from 35 percent."

"Other business entities — sole proprietorships, S corporations (which have between 1 and 100 shareholders and pass through net income or losses to shareholders) and partnerships — would not benefit because they are not taxed on the corporate schedule. But they represent 92 percent of all businesses."

"And here’s the kicker in the Cain plan. Phase 2 is merely a transition to yet another fundamental tax reform. In Phase 3, the United States would adopt the so-called Fair Tax, which would replace all federal taxes with a 30 percent sales tax on all goods and services. In a previous post, I explained why the Fair Tax is a bad idea. I went into more detail in testimony before the House Ways and Means Committee on July 26."

"At a minimum, the Cain plan is a distributional monstrosity. The poor would pay more while the rich would have their taxes cut, with no guarantee that economic growth will increase and good reason to believe that the budget deficit will increase.

Even allowing for the poorly thought through promises routinely made on the campaign trail, Mr. Cain’s tax plan stands out as exceptionally ill conceived."

Heres the link to Bartlett's analysis Link

In Short Cain's i should say he is ignorant of the 25M underemployed and retired who are gonna get trampled and yes even on the poor and middle class and also did you know How many times Cain Said 999 Plan at the GOP Debate On Tesuday?

Herman Cain's "999" was mentioned 85 times during the debate on Tuesday

Cain mentioned the 999 85 times during the debate, i think you should spread this message to any americans who plan on voting in next year primary elections.

Heres more on Cains 999 Plan
Herman Cain consultant: 9-9-9 wouldn't be accepted
From the link it notes
Cain’s chief economic adviser, a Cleveland-based wealth manager for Wells Fargo who is not a trained economist.

The Mainstream News Networks sure love the plan dont they? Herman Cain is a fraud by the elites.
edit on 13-10-2011 by Agent_USA_Supporter because: (no reason given)

posted on Oct, 13 2011 @ 02:19 AM

You are misquoting Herman Cain !!!!

I have 16.1 trillion reasons why Herman Cain shouldn't be President.


posted on Oct, 13 2011 @ 03:41 AM
Why is anyone surprised he's a stooge.

posted on Oct, 13 2011 @ 03:49 AM
Every day I am amazed at the stupidity of a large part of the US population when I see people like this guy and the fact that he is even listened to and has air time to spout his insane visions.

People like this are a danger to the world and should stay away from politics as far as possible.

posted on Oct, 13 2011 @ 03:52 AM
From what I've seen Cain has made it perfectly clear how he feels about the poor. It's their fault , if they wanted to be millionaires they just need to work harder.

posted on Oct, 13 2011 @ 04:39 AM
reply to post by Agent_USA_Supporter

I don't get it.
9% sales tax on all purchases for everyone without any exemptions? Thats neither fair, nor helpful.
How is a general consumption tax helpful when the US economy suffers from insufficient consumption?

There is no economic growth without an increase in aggregate demand.
How is a 9% tax on total income for 47% more tax filers helpful to create more consumer spending?

Mr. Cain would eliminate all taxes on profits earned by multinational corporations outside the United States.


posted on Oct, 13 2011 @ 06:04 AM
reply to post by ColCurious

It also doesn't exactly help that his plan is to not tax used purchases, so essentially it will lead to lower growth in the manufacture of appliances, cars, homes, and just about everything else. And that is before giving any serious thought to the fact the elimination of the payroll tax which employees only pay like 7.5% of they are getting a 1.5% tax hike. This plan is a disaster all the way around designed to crush the middle and lower class.


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