Herman Cain
- Thread starter Blitz
- Start date
How does that help the Middle Class? It would possibly help the poor but Neocons will help the poor. It is the middle class they are out to destroy and I dont see anywhere where this guy targets the middle class for help.
But that zero percent capital gains will help those who have capital gains....... I wonder who those are?:lol:
and the guy making $50k now doesn't have all the payroll taxes coming out, either.
So, he spends $15k of his $50k with the 9% sales tax and the guy making a $1,000,000 spends $300k with the 9% sales tax.
Who pays more?
And now, there are no deductions and loopholes that the rich can exploit to lower their top marginal rate down into the teens. So, the $1,000,000 guy pays a full 9% - $90k in tax.
I also totally agree with eliminating the Death tax. You are taxed when you earn it, you are taxed on the capital gains off the money you have put aside and then you are taxed on the estate you leave?
Ridiculuous.
So, he spends $15k of his $50k with the 9% sales tax and the guy making a $1,000,000 spends $300k with the 9% sales tax.
Who pays more?
And now, there are no deductions and loopholes that the rich can exploit to lower their top marginal rate down into the teens. So, the $1,000,000 guy pays a full 9% - $90k in tax.
I also totally agree with eliminating the Death tax. You are taxed when you earn it, you are taxed on the capital gains off the money you have put aside and then you are taxed on the estate you leave?
Ridiculuous.
Lets say one of these CEO's has a deal to buy 1,000,000 shares of stock for a buck a share. The stock is worth 10 bucks a share. He sells it for $10,000,000 a $9,000,000 capital gain. Does he pay taxes on that?
Now, the sales tax...is that a national sales tax? Is that on top of the State Sales tax?
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I have a hard time under standing their defintion of "fair share"--how much more do they want it skewed until they deem it fair --and as always their definition of middle class needs --re defined. We in middle class are closet to "even par" of the lot.
America?s lowest-earning one-fifth of households receives roughly $8.21 in government spending for each dollar of taxes paid.
Households with middle-incomes receive $1.30 per tax dollar, and America?s highest-earning households receive $0.41 per tax dollar;
? Government spending targeted at the lowest-earning 60 percent of U.S. households is larger than what they paid in taxes in 2004. Overall between $1.03 trillion and $1.53 trillion was redistributed downward from the two highest income quintiles to the three lowest income quintiles through government taxes and spending;
PDF]
Who Pays America's Tax Burden, and Who Gets the Most ...
<CITE>www.taxfoundation.org/files/sr151.pdf</CITE>
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- Feb 26, 2001
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A single guy making $50,000 right now is in the 25% tax bracket, 9% even with the sales tax is still better than what he pays now...
I better not I might get banned again...I found a great youtube to post, Ray, I am glad your back:00hour
Ditto
I like Cains idea's and the way he comes across. Straight forward and to the point.
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Sure sounded like Obama was black to me at the CBC. He is just black when it serves his purpose.
:mj07:
My argument is not with the 9%. You are right if you only look at income tax. But there will be and there are tons of other taxes and fees that we alll pay. The guy making a million bucks a year pays a much lower percentage of his income on those taxes than the guy trying to maked ends meet at 50 K. And that is what is not fair.
You are missing the point of this plan. It gets rid of loopholes, so they won't be paying a lower percentage... There will be no need for the IRS at least not in its current HUGE form.
