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Hermain Cain's 999 tax plan is stupid - example

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zues
Posts: 6434 - Karma: -5,330
a family of 4 (mom and dad and two children) have an income of 50,000

CURRENT TAX PLAN
$50,000
-11,600(standard deduction on two adults = 5800 each)
-14,600(Personal exemptions 3700x4people)
___________
23,600 taxable income
Tax liability is then $1700 + 15% x the amount over 17,000 = 6600)
That being (1700 + 6600 x 15%) =
$2,690 in taxes


HERMAN CAIN'S PLAN
$50,000
X9$
______________
$4500 in taxes
This family has a tax increase by over 67% and on top of that they now have to pay an additional 9% of Federal sales tax. If they live in RI they now pay a 16% sales tax... Cain's plan also disallows Childcare and tuition credit (which many families who have trouble paying taxes rely on)

In addition no capital gains tax will be used meaning that everyone who makes money in the stock market no longer has to pay the 15% Capital gains tax... this lets people (Warren Buffet) pay $0 taxes a year assuming all his income is from investments...

This makes no sense to me and I don't think he has any idea what he's talking about...

Corporations will save money, families with income under $120,000 will lose money and this tax is entirely regressive.

Don't vote for this guy.

Oct 17 2011 5:42PM
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Fucktown
Posts: 474 - Karma: 22
It's obviously fucking stupid, it's just a catchy phrase people can easily identify/recognize.. and unfortunately that happens to mean more to people than logic. Also, I'm pretty sure this is just his unused plan for dominos xl pizzas and he figured fuck it, might as well use it somewhere.
Oct 17 2011 5:51PM
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Creator
Posts: 1914 - Karma: 87
stfu, you're mad because ur penis is small, don't hate on me for it pussy
Oct 17 2011 5:58PM
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theabortionator
Posts: 51738 - Karma: 163,438
He's a joke, He'll do well though. Republicans plus black people of either party.



Voting for ron paul even though he most likely won't win. Voted for him in 08, see nobody that has any better plans.
Oct 17 2011 6:23PM
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Ben.
Posts: 21463 - Karma: 683
Lol if you are conservative and really want to be disgusted with him, look at his social security plan. As far as I can tell, its basically Obamacare implemented for social security.
Oct 17 2011 7:13PM
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PhilboydStudge
Posts: 3431 - Karma: 206
Click for larger image
Oct 17 2011 7:31PM
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zues
Posts: 6434 - Karma: -5,330
this plan is literally relying on all the american people who don't use their brains. Cain can possibly win too considering I meet more stupid Americans every day. spread the word... this guys an idiot...
Oct 17 2011 7:53PM
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AWALLRUS.
Posts: 5762 - Karma: 223
1. NS IS NOW CNN

2. THOSE ADS ARE HILARIOUS
Oct 17 2011 8:04PM
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.spaghetticat.
Posts: 4283 - Karma: 889
stop posting u whore
Oct 17 2011 8:05PM
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zues
Posts: 6434 - Karma: -5,330
I did it myself. our teacher today had us do it in tax class.

Cain eliminates all of those loopholes that people need in order to save money. Yes the tax structure is extremely complicated and somewhat overbearing but he's not doing the right thing by just dropping it altogether.
Oct 17 2011 9:09PM
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zues
Posts: 6434 - Karma: -5,330
I'm pretty worried that the clash between romney and paul is going to let Cain win the republican party nominations.... Please people wake up!!!
Oct 19 2011 10:54PM
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theline
Posts: 1507 - Karma: 92
gotta love that ad irony
Oct 19 2011 10:56PM
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t_rob
Posts: 6433 - Karma: 11,459
One of the best SNL sketches i've seen in a while. Holy shit, herman cain ad on my right now.
Oct 19 2011 11:06PM
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zues
Posts: 6434 - Karma: -5,330
heyyaaaa. read this shit. its true
Nov 9 2011 8:29PM
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zues
Posts: 6434 - Karma: -5,330
the flat tax rule is just as real as communism.














so for the special people -------- In theory it works. but only in theory.



There is a reason that we have a complex tax code. I don't see 9 9 9 working to bring a more stable economy. We need a stable economy and while this regressive tax code throws everything off its only going to get worse.

Please people don't vote for this guy. Cain only is interested in the domestic economy (this is very important) But don't forget if Countries in Europe fail (ITALY) !!!!!!!!!!!!!!!!!!!!!!!!!!

Our economy tanks as well. Being a superpower we are required to maintain Greece and ITaly and we need to maintain the western economies. China also highly affects us and I'm worried. We need to step it up.



IMO we need less stupid people and more people in higher positions creating jobs in our country where our citizens get paid. We need to reshape this economy step by step. Trying new ideas is definitely welcome, but 999 plan will only prove worse than Obama's plan.

Realize that unfortunately politics is more important and powerful than you ever though possible. Understand nad learn.

(hammmered nono proofread thread) --- i'm a little upset right now.

Night
Nov 11 2011 3:30AM
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theabortionator
Posts: 51738 - Karma: 163,438
Flip it over and get 666


Herman Cain is satan
Nov 11 2011 3:40AM
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Chompo.
Posts: 4952 - Karma: 88
What about the families making over 120k? Right now they take such a large portion of the taxes it's kind of ridiculous.. There was a thread on this a while back comparing the tax system to beer drinking and made things make more sense.
Nov 11 2011 8:39AM
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zues
Posts: 6434 - Karma: -5,330
holy shit I don't remember writing this...
Nov 11 2011 2:02PM
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RubberSoul
Posts: 11249 - Karma: 14,642
anyone who would vote for this guy...man. people are too fucking stupid sometimes
Nov 11 2011 2:05PM
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howlongcanausern
Posts: 4982 - Karma: 1,737
fuck deductions.
Nov 11 2011 2:10PM
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Ben.
Posts: 21463 - Karma: 683
Terrible chain mail analogy is terrible.
Nov 11 2011 2:11PM
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TijmenDal
Posts: 4849 - Karma: 1,295
Don't vote for Cain, that's the most important thing.
Nov 11 2011 2:11PM
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RubberSoul
Posts: 11249 - Karma: 14,642
youve gotta be kidding me...

anyone who thinks this or cain's plan make sense should pay a stupidity tax for the damage theyre doing to the country with their feeble brains
Nov 11 2011 2:13PM
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howlongcanausern
Posts: 4982 - Karma: 1,737
if somebody has a different political opinion than you, that makes them stupid.

sounds reasonable
Nov 11 2011 2:16PM
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RubberSoul
Posts: 11249 - Karma: 14,642
no, that's not what im saying at all. there are tons of conservatives that have intelligent, well-backed opinions and i respect them completely. cain's plan and the stupid beer analogy is "politics for dummies"....when you actually think about them they don't make sense. this thread shows how cain's flat tax manifests itself as a regressive, and that beer analogy has been posted many times and torn apart every time
Nov 11 2011 2:26PM
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MACAQUE
Posts: 2811 - Karma: 696
No, that's not what he is saying. The analogy is extremely stupid, and doesn't work.
Nov 11 2011 2:27PM
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zues
Posts: 6434 - Karma: -5,330
I concur sir.
Nov 11 2011 2:44PM
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theabortionator
Posts: 51738 - Karma: 163,438
Don't vote for the same old style people. That means 95% of them are out.



If people really wanted change, maybe they'd read a book and stop voting for people who obviously aren't going to change anything for the better.


Lol at anyone who voted for the winner or front runners in any recent presidential elections. Ignorance is stupid
Nov 11 2011 3:03PM
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Stickity
Posts: 7750 - Karma: 769
'cause everybody needs toucan stubs
Nov 11 2011 3:06PM
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pimpcat
Posts: 858 - Karma: 321
Why doesn't it work?
Nov 11 2011 3:46PM
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linepowder
Posts: 246 - Karma: 20
He is an idiot. You are right. But it won't matter because so are his voters who see this as a realistic fix.
Nov 11 2011 3:52PM
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soulskier
Posts: 17806 - Karma: 3,841
haha
Nov 11 2011 3:56PM
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AngusM
Posts: 696 - Karma: 148
999...or 666?


Nov 11 2011 4:02PM
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RubberSoul
Posts: 11249 - Karma: 14,642
like i said there's been a thread on it at least once where it's been ripped apart, and you could probably find refutations of it by a simple google search. oh and it's not by kamerschen
Nov 11 2011 4:03PM
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zues
Posts: 6434 - Karma: -5,330
he is the antichrist. Like Obama, just blacker.
Nov 11 2011 4:21PM
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theabortionator
Posts: 51738 - Karma: 163,438
I beat ya to it
Nov 11 2011 5:18PM
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