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Herman Cain's 9-0-9 Plan
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<blockquote data-quote="TUT" data-source="post: 892191" data-attributes="member: 29298"><p>Ah there is a lot more to it then that...</p><p></p><p>1. The rich today have accountants that will make their taxes go way down. Way down. A flat tax is bad news for tax people in general, the complex system we have now created millions of jobs. A system without complex deducts etc means "We don't need you anymore". Some owners could see that part as a benefit, they just saved additional thousands not having to have a tax expert on staff or as a consultant. So in someways that's a tax savings for them right there.</p><p></p><p>2. Everyone is paying a new 9% federal tax on everything they buy, so if the rich are buying stuff they are now giving back more in this manner, exactly 9% more then ever.</p><p></p><p>This simply changes how things have been done and there wouldn't be as many loopholes/breaks on most of these new flat tax plans, that is overall the point of them imo.</p><p></p><p>For me, this will hurt me personally more then help, however I could surrender it, if it truly worked. </p><p></p><p>The good news for those that don't like this, it won't happen. This is a systems change, the only way federal system changes will happen is when the system crashes period. He/she may someday win presidency on this issue, but it will go as another promise never lived up to. Seen it a million times.</p></blockquote><p></p>
[QUOTE="TUT, post: 892191, member: 29298"] Ah there is a lot more to it then that... 1. The rich today have accountants that will make their taxes go way down. Way down. A flat tax is bad news for tax people in general, the complex system we have now created millions of jobs. A system without complex deducts etc means "We don't need you anymore". Some owners could see that part as a benefit, they just saved additional thousands not having to have a tax expert on staff or as a consultant. So in someways that's a tax savings for them right there. 2. Everyone is paying a new 9% federal tax on everything they buy, so if the rich are buying stuff they are now giving back more in this manner, exactly 9% more then ever. This simply changes how things have been done and there wouldn't be as many loopholes/breaks on most of these new flat tax plans, that is overall the point of them imo. For me, this will hurt me personally more then help, however I could surrender it, if it truly worked. The good news for those that don't like this, it won't happen. This is a systems change, the only way federal system changes will happen is when the system crashes period. He/she may someday win presidency on this issue, but it will go as another promise never lived up to. Seen it a million times. [/QUOTE]
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