Herman Cain: Tax Poor People’s Food To Finance Tax Break

archer wrote:

SS109 wrote:

pineinthegrass wrote:

SS109 wrote: I like Cain's plan but it would be dead on arrival, Congress doesn't want to give up the ability to hand out tax loopholes and credits.

So you like the idea of cutting taxes for the rich, and making up for it by raising taxes for most everyone else?

I don't even think a Tea Party controlled Congress would vote for that. And if they did, they'd be gone next election.

The conventional wisdom is that the rich don't pay taxes because they pay tax accountants instead, so Cain's plan would hold them to at least 9%.

It would be interesting to see how people would modify their purchasing plans to limit their sales tax penalties. More coupon clipping? Buying in bulk? Barter plans.

If consumers start limiting their purchases, our consumer driven economy will tank.......pure and simple.

Too late, the consumer driven economy is already in the tank.

People don't have income, don't have credit, can't take loans out on their wealth (houses mainly.) The Denver Post had an article this morning about how much wealth has been lost in the current Obama administration and it is starting to look like Japan all over again, 20 years earlier, property bubble, banks bailed out by goverment, as population ages, spending decreases and savings increase. Wealth is lost due to property bubble, we are in a tailspin no one knows how to get out of.

The Left & Right is reduced to moving the chairs on the Titanic as it breaks apart.

Yes PITG - the 9-9-9 plan funds both SS and Medicare. It not only lowers the tax rate on the evil rich, it lowers the tax rate on the middle class workers as well. Notice the words - cuts tax rates. Cutting tax rates is not the same as cutting tax revenue, never has been. In point of fact, cutting tax rates generally results in higher tax revenues as a percentage of the national GDP, which is why presidents like Kennedy and Reagan both lowered tax rates when there was excessive capacity in the national production that wasn't being utilized.

What you are also forgetting, or at least failing to consider, is that the tax on food would apply equally to all those evil rich folks who are spending more for a single cut of beef than what the poor family of 4 is spending for an entire days worth, if not more, of food. The AlGore's of the country are feasting on $25/lb filet mignon without paying a federal sales tax on food while the poor family is eating potato soup without a federal sales tax. Who's getting the better end of that deal in your opinion.

I thought the 9-9-9 plan was 9 pizzas, 9 toppings, for $9.

Care to address who is getting the better end of the deal of food not being subject to taxation given the huge disparity in food budgets between rich and poor Wayne?

:pop

PrintSmith wrote: Care to address who is getting the better end of the deal of food not being subject to taxation given the huge disparity in food budgets between rich and poor Wayne?

No, cause I'm not smart enough to know.

Would that also mean you are not smart enough to know if the rich are also disproportionally benefiting from the current tax structure or not?

Yeah. Financial talk just bores me to death.

Which fully explains why you started a thread with a financial underpinning, it just bores you to death. What was the purpose of starting the thread given financial discussion bores you Wayne? Carrying the water for the latest "progressive" talking point on a subject that you have little interest in?

What part of "poor people would be paying 10.5% tax on their groceries (in Arkansas); and 13% on their groceries (in Alabama)" don't you get? Oh, I forgot... "Let 'em eat cake..." The GOP plan...