NBC News-Marist polls show strong Tea Party support for Cain

[beeker]

I believe that Cain's tax plan is a tax increase, and especially on middle and lower income folks.

The 9% sales tax looks like the Value Added Tax that many European nations use.

I believe that the 9% sales tax could hurt consumer purchases and that the elimination of mortgage interest tax credit could hurt the housing industry.  Those two things are big drivers of the economy.

It will be interesting to see if his 9-9-9 gains traction or suffers in the light of day.

I think the theory is that the less money you have the less you spend, therefore the less taxes you pay.  If your income tax with holdings are less then you have more money to pay the bills you already have and a smart person would be frugile in spending habits to avoid higher sales taxes on luxury items.  So the rich would be paying higher taxes on big ticket items while the middle class is paying a lower amount of taxes for middle of the road items.  To me it forces the middle class to only buy what they can actually afford.  The poor is even less affected because they have less disposal income burning a hole in their pocket and usually get a full refund of their taxes anyway.  That's just my take on it, but none of us on here are either financial experts or have the ability to predict the future so it's all just opinions. 

[yoyo]

I am proposing the 11-11-11 plan, it goes to 11

[yoyo]

HR Block hates this proposal

[Citizen X]

If Herman Cain did such a great job turning around Godfather's Pizza then why did the Scalp Avenue location fold up like a cheap pizza box?

[redcap]

Sorry, but the thought occurred to me that it was because Johnstown would never support a Republican. LOL

[Wiener]

I think the theory is that the less money you have the less you spend, therefore the less taxes you pay.  If your income tax with holdings are less then you have more money to pay the bills you already have and a smart person would be frugal in spending habits to avoid higher sales taxes on luxury items.  So the rich would be paying higher taxes on big ticket items while the middle class is paying a lower amount of taxes for middle of the road items.  To me it forces the middle class to only buy what they can actually afford.  The poor is even less affected because they have less disposal income burning a hole in their pocket and usually get a full refund of their taxes anyway.  That's just my take on it, but none of us on here are either financial experts or have the ability to predict the future so it's all just opinions. 

I also heard Cain say that the poor would get a bye on a un-foreclosed amount prior to having to pay the 9% sales tax.  I think it is a good idea it would force our economy to not be so consumer based which we now know in hindsight is a bad idea.

[lexiconic]

Is the proposed 9% sales tax on top of the 6% we already pay to PA?

[redcap]

Yes, and remember,  the PA sales will NEVER be more than 1%. I know because that is what was promised when it was passed.

[beeker]

Yes, and remember,  the PA sales will NEVER be more than 1%. I know because that is what was promised when it was passed.

I'm sure you're correct.  That's the problem with any new taxes, they almost never go away in fact when the purpose for the tax is gone the money just goes some where else and usually the rate increases to support the new purpose.  I wonder if the alcohol tax in PA ever paid off the 1936 Johnstown flood damages?

[Wiener]

I'm sure you're correct.  That's the problem with any new taxes, they almost never go away in fact when the purpose for the tax is gone the money just goes some where else and usually the rate increases to support the new purpose.  I wonder if the alcohol tax in PA ever paid off the 1936 Johnstown flood damages?

Isn't it our fault, the voters for not demanding that these taxes that were supposed to be temporary be removed?  I mean if we are the bosses then we should act like we are instead of just saying well okay you know best Mr. Politician?

[redcap]

VOTE EM OUT