grayfingers
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Post by grayfingers on Oct 6, 2011 16:41:54 GMT -5
Rich, thanks... I hate to admit it, but it took me a bit to catch your drift,,, deedle...
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chassroc
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Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
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Post by chassroc on Oct 7, 2011 14:55:16 GMT -5
The best thing the 9-9-9 plan has going for it is that it is easy to understand. The left will go postal over the fact under the The 9 percent income tax part of the plan, many of the 49.5 percent of all tax filers pay no income tax at all will have to pitch in. The exceptions are that taxpayers could claim a deduction for charitable contributions, and taxpayers could earn a tax credit for living in an "empowerment zone," (inner cities needing revitalization). I am not sure how I feel about this plan, I'm not sure how it would all add up, and then there is all the other taxes we pay, fuel taxes, property taxes and so on...
Herman seems to be no different than the current batch of Politicians catering to special interests. His two special interests seem to be his exceptions for 1) people living in an "Empowerment zone" (inner cities needing revitalization). ?? 2) charitable contributions? ? This is just more of the same "deductions for my favorite special interest" nonsense. next...we'll need to give a deduction for social security recipients, for the disabled, for the hedge fund managers, for corporations buying tickets to the super bowl, for doctors going to the caribbean for training, for people needing medical treatment in Mexico. Is the 9% sales tax on top of state and city sales taxes or instead of? Will it reduce the tax we pay for hotel rooms or car rentals at airports?
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Post by texaswoodie on Oct 7, 2011 17:19:16 GMT -5
The 9% sales tax is in addition to other taxes. If you spent every dime you made on consumer goods, you would pay a total of 18% income tax. Bet that's less than what you're paying now. Plus , the more you save, the less taxes you pay. I like that.
It will not reduce hotel etc. taxes. Is that YOUR special interest? ;D
Yes, businesses would still be able to deduct business expenses. A company that makes a profit of 250,000 cannot pay taxes on 750,000. If that happened you would be making $3 an hour.
Curt
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Fossilman
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Member since January 2009
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Post by Fossilman on Oct 7, 2011 18:36:17 GMT -5
I like him........We just need to get obummer out of there!!!!
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Post by texaswoodie on Oct 7, 2011 18:44:38 GMT -5
And that my friends is the U.S. priority for 2012
Curt
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Post by parfive on Oct 7, 2011 19:52:58 GMT -5
9-9-9, eh?
Let's see, how's that work? . . . the poor pay more, the middle class pays more, we pay less. A lot less!!
What's not to like?
Herman, Herman, he's our man. Why should we pay, when suckers can.
Have a nice day, Your pals @ Goldman Sachs
.
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Post by texaswoodie on Oct 8, 2011 5:50:36 GMT -5
You should like it Rich. All those mean old companies your always whining about would pay as much as anyone else. The corporate tax would be lowered which would entice business back to America. Oh I forgot, you don't want those nasty old businesses back in America. They actually want to make a profit...dirty bast***s
Curt
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Post by parfive on Oct 8, 2011 14:07:55 GMT -5
Don’t get me wrong, Curt: The whole friggin’ country is a bunch of UNDERTAXED whiners. Best sign I’ve seen since Vietnam days.
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Sabre52
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Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Oct 9, 2011 8:23:20 GMT -5
Overall, I'm a little nervous about the 9-9-9 plan as sales taxes tend to be regressive and tend to go up a lot with time ( look at Europe!) Plus they never go away. What happens if income tax then goes up along with sales tax and we can't get rid of either? Add the nine percent to your local sales tax and shopping days will get real expensive. Also curious to see what is eliminated ie: standard exemption, interest on tax free mutuals and that kind of investments, IRA contributions and other kinds of exemptions or credits ( child care, deductions for kids etc etc). Added nine percent in Texas would make close to 17% sales tax. Think of how much gas would cost with the extra 9% taxes added to all the other gas taxes ( like 30 cents per gallon more). And this kind of regressive tax hits the workers and small businesses hard because fuel, supplies and such are something they use a lot of. The richest folks of course would not even notice the increase. I'm actually kind of with Charlie on this one. Makes me kind of nervous. Sometimes you can be sorry you get what your wish for.....Mel
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Post by Rockoonz on Oct 9, 2011 14:34:11 GMT -5
9-9-9, eh? Let's see, how's that work? . . . the poor pay more, the middle class pays more, we pay less. A lot less!! What's not to like? Herman, Herman, he's our man. Why should we pay, when suckers can.Have a nice day, Your pals @ Goldman Sachs . So which candidate for president in 2008 recieved the most in campaign contributions from Goldman Sachs? I bet you know the answer Rich. Lee
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Post by Rockoonz on Oct 9, 2011 14:46:37 GMT -5
IT'S THE SPENDING, STUPID! Should be the campaign slogan for 2012 IMO.
It makes no difference how taxes are collected or who pays them because the middle class always pays them ALL. Tax a wealthy producer and he makes it fit into his budget by: 1. Raising the price we pay for his goods or service 2. Either laying off or not hiring enough of us to cover the cost 3. Not increasing the pay and benefits of his employees (us)
For us to be better off government needs to spend a lot less money, period. We can argue methodology till we're red in the face. The simple truth is that government spending takes away our freedom, both economic and otherwise.
Lee
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Sabre52
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Me and my gal, Rosie
Member since August 2005
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Post by Sabre52 on Oct 9, 2011 15:10:55 GMT -5
What Cain is proposing with his 9-9-9 tax is essentially a slight lowering of the income tax ( which would probably wind up being temporary because our government just loves to spend our money) and the start up of a VAT ( value added tax) which will of course be permanent. Just something to think about. These taxes started up low in Europe and these are some current levels:
European Union members, by agreement......25% Denmark 25% Finland as high as 23% depending on what you buy Iceland 25.5% again depending on what you're buying Norway 25% Sweden 25%
And I think these are all in addition to income tax as Cain's tax would be. Now do we really want to go down this road? Think of having to go buy gas or groceries and in addition to paying income tax, you have to pay 32% federal and local sales tax on everything you buy. Remember, all taxes start low to suck in the dummies but rarely do they ever go away or even go down....Mel
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Post by parfive on Oct 9, 2011 16:10:54 GMT -5
Herman might have a degree in math but his arithmetic sucks. And he’s also a lyin’ son of a bitch, claiming that his plan is not regressive and is revenue neutral.
Gray’s numbers showed a shortfall of $360 billion compared to current revenues. I’ve seen estimates up to half a trillion worse than that. Either way, it ain’t even close to revenue neutral. Feel free to shed a few more tears for the grandchildren. ;D
I doubt every minimum wage slob in America is gonna find himself livin’ in one of Herman’s inner city empowerment zones. Will Perry whine and get the whole state qualified? ;D
So what happens to some slug that just scored one of Perry’s job creation miracles at minimum wage?
He works 40 hours a week for 50 weeks___$14,500 9% income tax________________________$1,305 Disposable income____________________$13,195 He’s gonna have to spend most of that just to live, no? Maybe pay rent, maybe not, but his 9% sales tax could go as high as $1188. So we just banged this slob up for as much as $2493, or 17.19%. Serves him right – we need that skin in the game. If he can’t live on $231 a week . . . get another job, ya friggin’ bum!
Meanwhile, your average Master of the Universe just saw his federal tax burden drop from 28% to 11%.
Like I said – Herman, Herman, he’s our man!
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Post by parfive on Oct 9, 2011 16:23:52 GMT -5
Rockoonz,
We have no pride, we shit on both sides of the street.
Your pals @ Goldman Sachs
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Sabre52
Cave Dweller
Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Oct 9, 2011 16:34:21 GMT -5
Wow Rich, we actually agree on something. His is undoubtedly a regressive tax plan. However, if a guy isn't making enough money to live on, freaking A get a second job. My folks worked two jobs each for years. When my wife and I were first married and I got out of the army we couldn't find full time work and had five part time jobs between us and lived pretty well. Got a nice apartment where a lot of professors from college lived and even a new car. Bought our first home in three years. Who ever said, if you want to succeed, you only need to work an eight hour day? Typical progressive socialist thinking. Ooh, give me a nice easy eight hour a day job and pay me like a banker with all the fringe benefits or I'll go protest in the streets. Boo friggin hoo!. Yeah, get an extra friggin job ya bum!...Mel
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Post by parfive on Oct 9, 2011 19:47:33 GMT -5
Just caught Jeff Immelt on 60 Minutes, Republican CEO of the infamous “paid no tax” General Electric Company. He thinks a corporate tax rate in the mid 20s, no loopholes, is fair.
Sounds reasonable to me. Herman can stuff his 9-9-9 somewhere out there on Planet Teabag.
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Sabre52
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Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Oct 9, 2011 21:15:00 GMT -5
Wow! Two points of agreement in one day. Canada, which is touted as having very internationally competitive corporate tax rates has one , I believe, in the 25% range so Immelt is definitely in the ballpark. Sounds reasonable to me just as long as our companies can compete on a level playing field with those in other countries....Mel
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Post by parfive on Nov 17, 2011 3:20:18 GMT -5
bump
Just cause it’s sad to see such "A Tiger in the Tall Grass" about to fall off page six. ;D
He gave us fair warning a month ago. Of course, that was before he learned they had mountains in Iran and somethin’ happened in Libya and they speak Spanish in Cuba and . . .
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Post by texaswoodie on Nov 17, 2011 7:48:49 GMT -5
Sorry Rich but I still am for a 10% coporate tax. Cheap labor is one third of the reason companies leave the U.S. The other two thirds is taxes and regulations. Lower the taxes and do away with half of the idiot regulations and businesses would come back to America.
Herman doesn't have the chance of a snowball getting the nomination but I still like him. We need to elect non politicians.
Curt
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grayfingers
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Member since November 2007
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Post by grayfingers on Nov 17, 2011 8:42:56 GMT -5
Yeah Curt, I still like Herman too. Rich, Our current President thinks Hawaii is is Asia, so by way of comparison I guess it could be said that Herman is up to par... (pun intended)
Bill
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