What if Obama (like he could) Came up with the 999 Plan?, page 1

Originally posted by KeliOnyx
If it were Obama's plan it would still be a bad plan. This plan is a terrible plan form the ground up for a variety of reasons. This plan would turn the country into Republican dream land, with most people poor and destitute. Since the sales tax as Cain puts it would only be on new products you would gut what little manufacturing is left. As people start hitting the local garage sales to avoid paying the tax, it will drive the price of used appliances and cars up. It will drive people to buy food products produced the cheapest ways imaginable, which are often highly processed less nutritious foods driving health costs higher. Couple this with state and local sales tax in some areas this tax won't be 9% but rather 20%.

The income part gives the top a tax break and the bottom a burden they cannot afford. It would remove the payroll tax and replace it with an Income tax. This is not a tax cut it turns out to be a tax increase, because your employer pays half the payroll tax. If you are in the bottom brackets you are going to get shafted with this plan coming and going. It does not matter whose plan this was, it is a bad plan designed to crush the poor.

What part of REPLACE don't you understand? If the entire plan was passed (which I doubt) through congress and the senate. It would restart the economy.

It ENDS nearly all deductions and special interest favors.
It ENDS all payroll taxes.
It ENDS the death tax.
It ELIMINATES the double taxation of dividends.
It ELIMINATES the taxation of capital gains and repatriated profits.
It allows immediate expensing of business investments.
It shifts the burden of taxation from production to consumption.
It increases capital formation, which will fuel productivity and wage growth.
USED goods would be tax free. Not taxed more

As businesses grow under his plan, the cost of making and producing goods would decrease and therefore companies would be allowed to drop their prices so we could afford to buy them!

9% on all income tax is pretty simple. The very poor don't make enough money to qualify to pay income tax anyway so it's not like they are going to be affected by it. It is unclear what he will do about SS and Medicare but he's an economics guy and he could easily fix those programs as well.

Before you can talk about giving away more money, you have to fix the system. That's what his plan is about.