ANYONE support Cain's 9-9-9 plan?

Oh. Yahoo has an article about "understanding the 9-9-9 plan" (I'll post it below). It didn't really seem to answer anything and there was one thing that I wished it would.

I understand the 9% income tax and the 9% sales tax...what is the 9% corporate tax? Does that mean that I (as an individual) am still only going to be charged the income tax and sales tax?

https://finance.yahoo.com/news/Herman-Cains-999-tax-plan-cnnm-976918316.html?x=0

I buy new because I don't generally keep them too long.. So I get a good trade in, and usually make them give me the unlimited maintenance package as a freebie. My current car has a five year maintenance plan, where all I pay for is brake pads and tires. (and the disposal fee on oil).. so I basically just have a car payment, insurance and gas..

I'll trade it in before the maintenance plan is up, and get another new one with the same deal..

Unless I've got to pay an extra 9% on it. I won't fork out an extra $3000-$4000 in sales tax just to have a brand new car.

How much are you taxed now? In my state, we're already at 8.5% so another half a percent isn't really that big of a difference.

Another half percent?

No, another 9% on top of what you already pay. That's the point

Flip that. Think of the damn tax brackets and how much people get taxed for making a certain amount. I cried when I moved up a tax bracket once (well, I didn't really cry, but I was pretty upset)

I'm talking about sales tax on a car at the moment. Jon, are you saying he's raising those taxes by that much? I thought this whole time that those were going to be the tax rates. 9% of each....if he's raising them each by 9% then why is everyone saying that it won't bring in more revenue?

And honestly, I'm not trying to be snarky here, I'm genuinely confused.

We're taxed at 6% right now. If this plan went through that would go to 15%, which is unacceptable.

If taxes go from 6 to 15% in my state, I will go out of my way to buy items that are not taxed. I will buy used cars, and won't spend money on "wants" unless there are deep deep discounts on them.

That means that I'll pay less in taxes, and spend a whole lot less money, and I won't be alone. This means a whole lot less money in circulation, and lots more people not working, because lots more people won't be buying. Fewer people working means less income, so less income tax, and less money to spend, so less sales tax, so fewer jobs... it's a cycle, and it's bad.

Yes. He's going to add a federal sales tax of 9% on top of any state and local sales taxes you pay. For example, if you pay 4% local and 4% state sales taxes for a combined 8% sales tax, you will instead be paying 4+4+9 = 17% sales tax.

It won't bring in more revenue because the new federal sales tax (there is no federal sales tax at the moment) would be offset by a steep reduction in income taxes.

Its early and I did not have my coffee, so is American tax varied by state like it is by province here. The less money your state has, the more in tax to pay to make up for it? That is how it works here.

So I live in say Florida, and pulling any number from my bum, I pay 9% tax, this is a state tax or a federal tax? Then this plan is to add 9% tax across all of America so now in Florida I would pay 18% tax.

We used to be taxed on the tax, is this what this plan is? I would be taxed on an item the provincial sales tax, get that total and then be taxed federal tax on the item. Now we just have the one tax at almost 15%.

So its tax on the tax to help get out of debt for your country?

Thanks, that is what I just asked.

I think someone is starting to see the light on just how funky Cain's plan is.

I see. This whole time I thought this was a reformation type thing and he was replacing our current taxes. I'm not sure how anybody would support this plan.

He is. He is talking about replacing our current income taxes with a sales tax.

The problem is, for most of the middle class it will count as a tax increase, for most of the upper class it will be a tax cut.

As I said before, my wife and I paid about 10.5% of our income last year. If I remember correctly boxer said he paid a similar amount. I suspect most of the middle to upper middle class is paying around that amount too.

Cain is proposing dropping my federal income tax to a flat 9% which is a decrease of 1.5%, that's good and all, but then he is going to slap on a 9% sales tax where currently I pay 0% in federal sales tax. That means that assuming I spend all of my income (I don't but just for sake of argument) I would end up paying an extra 7.5% in taxes under the 999 plan than I currently do. That represents a fairly significant amount of money.

To make it worse, most projections on the plan show that it would bring in less revenue than our current system because the tax cuts to the wealthy are greater than the tax increase to the middle class.

That's not what Jonnythan was saying right up there ^^ where Boxer and I are talking about cars.