Herman Cain

[jnevis]

Sorry to hear that.  I think that is part of what BIll is getting at.  The kind of deductions I mentioned are available to anyone, just there are a lot of people who either choose not to use them or for any number of reasons can't.  That doesn't make it a loophole or taking advantage of the system.  Its' the "American Dream" last time I checked (family, a home, an education, and a decent retirement).  The law is written for people to be able to get a break if they are doing something to better themselves or save for the future.  Are there corporations that take advantage of the current laws too, yes.  Most of the breaks for companies were originally for the ones that are hiring people, making jobs is a good thing.  Penalizing the little guy trying to run the corner gun/flower/... shop because he "makes to much money" and gets a break on his taxes isn't going to help anybody.  Plus as has been mentioned before a national sales tax is something that could quickly go very wrong.  The local sales tax when I was a kid was around 7%, it's now 12%.  You don't think that Cain's 9% won't do the same thing?  Sure the "rich" pay more in actual $s in taxes but the lower/middle class pay more than they can afford to.

Would I still vote for him if nominated. Definately.  Do I want to see if someone else has a better plan, yes.

[billt]

Of course you don't, you are one of the ones milking the system.

How is keeping more of what I earn "milking the system"? I don't want anything from the government. By the same token I don't want them getting anymore from me than I absolutely have to give them. People earning nothing and receiving entitlements are "milking the system". By guys like me paying as little as possible into it, their world of self reliance becomes more forced upon them. That is the way capitalism should work. If you want to help support the democratic version of it by expanding the tax base, be my guest. You will then be more accommodating in helping them "milk it" by paying the added taxes, which will in turn provide the milk.

[billt]

How does a flat tax of X% make the middle income people pay a higher percentage?

They don't pay a higher percentage, they spend a much higher percentage of their income on necessities, which will be subjected to Cain's 9% national tax. Someone earning far more will spend a significantly less percentage of their income on those same necessities. Yes, they will be taxed dollar for dollar the same, but the less one makes, the harder the hit will feel economically for them.

[billt]

Are there corporations that take advantage of the current laws too, yes.  Most of the breaks for companies were originally for the ones that are hiring people, making jobs is a good thing.

This is the part so many just don't get. Democrats cry and whine how the big corporations get all of these horrible tax breaks. This increases their profit margin which equates to more jobs through increased hiring, and a larger employee base as they grow larger and more powerful, higher salaries, larger stock dividends for their investors, and bigger profits across the board. That is what capitalism is based on.

The flip side is instead you tax the pi$$ out of them and the government is the benefactor. They then proceed to waste every penny of it through entitlement programs, useless wars, and out and out waste and bad monitary management. Which is better? I would rather see a "fat cat" get fatter, than an idiotic government run by the likes of Hussein and Pelosi waste their hard earned profits by literally stealing it from them in increased taxes. Remember, those private jets don't build themselves.

[Timothy]

They don't pay a higher percentage, they spend a much higher percentage of their income on necessities, which will be subjected to Cain's 9% national tax. Someone earning far more will spend a significantly less percentage of their income on those same necessities. Yes, they will be taxed dollar for dollar the same, but the less one makes, the harder the hit will feel economically for them.

Not true if, and it's a big IF what he says is true.  That all other "hidden" taxes on goods are eliminated in the process!

Remember, every single part of a supply chain is taxed by either the Feds or the states and according to his statements, all of those taxes would be gone.

Again, it's got a one in a quadrillion chance of become law but it's getting people thinking.  I've never been able to defer investment monies into a tax shelter because of my personal situation.  I've only been able to take the simple deduction over my 39 years of being a taxpayer.  But, if someone taxed my income at 9%, I'd save money.  If I paid 9% on my spending and an addition 6-1/4% on my state taxes on things that are actually taxed in my home state (food and clothing are currently exempt) than I would be making my money work for me rather than for the state or the Fed.  

Granted, I don't spend a lot on things I don't need.  Most of the things I need to survive are exempt in my state.  The fact that my electric bill is raped monthly, my cell phone bill is raped monthly, my cable bill is raped monthly and every other utility is being gang raped monthly will change, at least according to the Cain plan on taxes.

[Sponsor]

[TAB]

yeah becuase industrys making less then 10% profit are just evil and need to be taxed more...  


you would be amazed at how low the profit % are for most companys.  For most its single digets, the gas station on the corner for example, might make a few cents a gallon, they normally make more on the guy buying a couple sodas then they do on some one filling up and paying with a credit card.

between me and my partner, we get around 5% of our gross and we split that.  So yeah, taxing us more is a good thing, that way that 5% can become 3%...  that will make us want to reinvest in the company and hire more people...

[Timothy]

yeah becuase industrys making less then 10% profit are just evil and need to be taxed more...  


you would be amazed at how low the profit % are for most companys.  For most its single digets, the gas station on the corner for example, might make a few cents a gallon, they normally make more on the guy buying a couple sodas then they do on some one filling up and paying with a credit card.

between me and my partner, we get around 5% of our gross and we split that.  So yeah, taxing us more is a good thing, that way that 5% can become 3%...  that will make us want to reinvest in the company and hire more people...

TAB, you are aware that anything that you buy that is for RESALE is not taxable under most state law don't you?

Also, 10% GROSS profit annually is considered the norm for moderate growth.

[TAB]

TAB, you are aware that anything that you buy that is for RESALE is not taxable under most state law don't you?

yeah too bad we don't resale anything...  we buy are stuff retail( granted very low mark up retail as we buy alot from our suppliers) then charge the custmer our costs.

CA says you can't be a retailer and a wholesaler at the same time, and since we wholesale several products, that we have manufactors for us, we can't buy stuff whole sale.


just as well it means we don't have to deal with sales tax... which is a good thing.


oh yeah if your intrested in power use recording gear, PM me, maybe you can be one of our retailers...

[Timothy]

yeah too bad we don't resale anything...  we buy are stuff retail( granted very low mark up retail as we buy alot from our suppliers) then charge the custmer our costs.

CA says you can't be a retailer and a wholesaler at the same time, and since we wholesale several products, that we have manufactors for us, we can't buy stuff whole sale.


just as well it means we don't have to deal with sales tax... which is a good thing.

I've said it before kid.  You need to move to another state.

There is no reason that what you do can't be done profitably in another area of the country!

[TAB]

I've said it before kid.  You need to move to another state.

There is no reason that what you do can't be done profitably in another area of the country!

do you even know what we do? 


I'll give you a hint the recent change in title 24 has help us a bunch.