Is Herman Cain's 9-9-9 tax plan a good idea?

I like most things PROGRESSIVE...but not the income tax...good idea, but it needs help!

I like the idea that Cain is bringing attention to the unwieldy and convoluted tax code we have. The problem is, the 9-9-9 won't stay at that figure, it is sure to go up and perhaps be 15-12-25. Especially when Democrats get hold of it and see it as a new revenue stream. And every time there is a new tax, history has shown that it always increases.

it would sure simplify paying taxes, wouldn't it?

America now spends an estimated $400 billion a year on tax planning and compliance. That's about 1/3rd of the entire amount raised by income taxes and gift/estate taxes. Just think -- we could save all that money and use it for productive jobs instead of paperwork.

Sounds good to me.

Not sure that a 20% VAT and canceling all income taxes permanently and entirely might not be better, though. VAT would equalize our trade policies with Europe instead of implicitly subsidizing them as we presently do.

Of course it's a good idea.

1) It eliminates the separate and unequal classes under the law our present tax-code causes.

2) It encourages economic participation and discourages "leaching."

3) All of its elements have been done somewhere, someplace and the outcome is ALWAYS good for everyone except bureaucrats.

There you have it: The top three reasons all Democrats would subject their own kids to human sacrifice to stop it.

It's not 9-9-9 anymore because even Herman Cain has realized it was deeply flawed. Now he is allowing deductions.

"For people living under the poverty line, ���your plan isn’t 9-9-9, it’s 9-0-9,” Mr. Cain said in a policy speech in Detroit. “Say amen, y’all. If you are at or below the poverty line…then you don’t pay that middle 9” – i.e. the individual flat tax."

It is certainly a good place to start. We must get rid of the current Tax Code and Cain's plan is getting the people to embrace the idea. I like it.

*

No. Its a new way to tax people. Do your own research. Don`t vote because a candidate has a catchy slogan, Or hes good looking, Or because you share the same religion. People never research and vote for the most ignorant reasons. Most the time they don`t even know the politicians policies. They vote for them because their a "Democrat" Or because their a "Republican".

No, it's is a silly regressive idea and even he is out scrambling to change it.

I would be hesitant to take financial advice from Cain since he brought down Godfather's Pizza from the 5th largest pizza chain in the U.S. to the 11th largest chain when he finally left as CEO. This is not a man to give advice on how to created economic success. Yikes!! : o

Honestly, I don't know.

But it smells a little too much like the European VAT(value added tax) where

a product is taxed at every stage, from inception to "consumption".

(and every stage in between)

I like Cain basically, but if I'm correct about 999, I hope it never leaves the ground.

Taking the words of Nancy Pelosi, "you will have to vote for it then you can see what's in it!" Yes, I believe it is. It is a flat tax that most of us have been wanting for years.. It will be far better than the discombobulated tax structure we have now.

MR

As it has been laid out thus far, it’s a tax increase on 85% of Americans. And, like most conservative plans, it’s a gift to the rich that sticks it to the little guy.

Watch. Each day it’ll get more complicated. He’s already talking about all kinds of “exemptions."