Which plan would you prefer?

F

FridayNiteLites

500+ Posts
Cain 9-9-9? or PointyBoots 20% flat tax?

I would prefer Cain's plan. It casts a wide net. Perry's would give you the option of sticking with the current plan, and those who know how to game the system would continue to do so. Thoughts.
 
Frankly, given the political realities, neither will work. or should I say, neither has a chance of being implemented or if implemented, of lasting long before being corrupted. and we wind up with a even bigger mess.
 
I will take perry's plan. no way i am giving incompetent statists like pelosi and reid the opportunity to raise that 9% sales tax to 55% or some other arbitrary number that satisfies their statist greed for more of our money.
 
I admit to not reading the details but the Perry plan makes no sense to me.

Perhaps from the outside it cannot be understood.
 
We are undergoing a massive deleveraging and it is going to continue for at least several years. When we come out of it, assuming the aholes in DC have not permanently scuttled the country with their insane solutions, we will still have to deal with the fact that the credit card spending spree that allowed us all to spend billions we did not have will not start up again. Those who have lived through this disaster are neither going to be willing to loan to the unfunded or willing to put themselves in hock like they did before.

All these pols are nothing but carnival geeks trying to sucker you into voting for them. They do not have the remotest idea about what to do that might actually work.

When was the last time Perry or Obama ran a successful business? And don't tell me Cain did, because he just marketed junk food. Nor Romney, who helped create the overleveraging miracle that made him rich and destroyed the economy.
 
That's what is so sad. Make fun of Cain or junk food all you want. He's far from perfect but at least he has some business experience. Wish he made fewer dumb off the cuff comments about electric fences and Uzbeckybeckybeckystan.
 
Unfortunately I think 77's right and there is little chance in reality for either plan to be accepted, however Cain's is the only one that seems complete. The criticism of the 9-9-9 is primarily the threat of adding taxes to existing taxes but that is not possible IF the 9-9-9 plan was implemented. The whole point of the 999 is that it abolishes the majority of taxes. It's ridiculous to argue that the plan will not work based on assumptions that are in direct conflict with the plan's implementation.

Perry's plan at it's core is sound, practically everybody likes a version of the flat tax idea. But his voluntary pick & choose option is ludicrous. Rich people can take the 20% and everyone else can remain status quo? Nonsense.
 
How about keep the rates where they are and just remove all of the deducitons and credits and start from scratch. Have a flat small business tax that is say 15 to 20% so that we can spur job creation there.
 
^you would double my effective tax rate and probably that of everyone here. No ******* way. You would also completely disincentivize home purchases which is a horrible idea any time, but especially in the current environment.
 
They're both dumb.

9-9-9 is good on the surface and makes for some good slogans, but you're creating new taxes. Long term, you're asking for trouble, and like I've said previously, the 2/3 majority requirement to raise taxes is inadequate taxpayer protection, because the federal court will likely invalidate it (and rightly so).

Rick Fairy's plan is a little better, but I'm never going to be a fan of not taxing dividend and capital gain income. I'm not a class warfare guy, but exempting huge portions of someone's income because of how they made it truly is unfair. Tax all income no matter how you made it and tax it at a low rate.
 
How about keep the rates where they are and just remove all of the deducitons and credits and start from scratch. Have a flat small business tax that is say 15 to 20% so that we can spur job creation there.
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Then most people would pay my tax rate. i get screwed every year because i dont have any deductions and end up paying close to 40% of my income in taxes. they should remove all deductions and lower the tax rate for everyone to about 15%. everyone talks about fairness but that is the last thing any politician wants.
 
He's far from perfect but at least he has some business experience.

So?

As if "business experience" really matters. Look at GWB(uffoon).
 
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