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Cains 999 Plan

#1 User is offline   azjetfan Icon

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Posted 18 October 2011 - 05:20 PM

http://www.hermancain.com/999plan

I am just really looking at this and it seems like a poor plan. The way I read it it will cost everyone more. Am I missing something? Below is a guy who makes some good points. Copied from Yahoo

http://news.yahoo.co...AZvwXPi5yfxh7l_






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Moving Forwardabout an hour agoRemove
I am as conservative as one can be but, I just read his website and I am against this. We drop the income tax from 15 to 9% for most people but charge an extra 9% sales tax on everything? So WI sales tax will be 14.5% Cali @ 18%? That will hurt the economy. People will stop spending. If we stop spending we stop selling and we are all out of work in 10 years. Do we want to make everything better? Then we need to start building and making things here in the US again. Stop letting Items come into America from China, Mexico ect.... We are being robbed by our own greed by letting the jobs go oversees. Lets get GM and Ford to build all there cars in America again. Look at what you are wearing. How many things were made in other countries? I bet 100%. What % of your car was built in America? Get the point?"
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#2 User is offline   FlyHiJets Icon

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Posted 18 October 2011 - 05:53 PM

Don't forget that some of his plan calls for a retail sales tax of 30%. I liked his plan until I read that.
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#3 User is offline   azjetfan Icon

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Posted 20 October 2011 - 07:13 PM

View PostFlyHiJets, on 18 October 2011 - 05:53 PM, said:

Don't forget that some of his plan calls for a retail sales tax of 30%. I liked his plan until I read that.

The people this plan will hurt the most are the middle class and below. You have to figure have to spend most of there pay to live on taxable items.
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#4 User is offline   MoMilk1991 Icon

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Posted 21 October 2011 - 03:04 PM

A graph that someone posted on a different forum I frequent.

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#5 User is offline   azjetfan Icon

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Posted 21 October 2011 - 03:19 PM

So if thats true..... according to that the top 80% would save money. I still see the fundamental problem of people not wanting to spend as much. That may not be a horrible thing, but no or limited job growth would happen.
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