http://www.hermancain.com/images/economicgrowth.pdf
Herman Cain's 9-9-9 plan does what?
Michele Bachmann hits it out of the park even before we get into the details
Let's look at it again:
My comments:
This is a business scheme that can loop-hole most all businesses by moving all profits into expenses, and profit-sharing: result, potential 0% income to the US Government.
In other words, it is "NET Profits". Years ago, a certain movie studio in Hollywood had a gross profit of over $400,000,000. It also had a contract with a certain someone who was to share in the "Net Profits" under the same above circumstances. By the time the accountants were done, the money dissipated into thin air, and the studio wrung its hands, and refused to pay its obligation. To my recollection, they also won in court by using legal acrobatics and mathematical contortions and manipulations. Cain's business plan will be a tax collection nightmare or flop because it clearly leaves a hole so wide open, it might as well be the US border shared with Mexico. Perhaps 6% of business revenues projected will ever be collected here. It is sheer incompetence, or intentionally moving the burden onto the individual.
My Comments:
This will beat the poor, those earning under $30,000 with an additional average of $2,400 to $2,800 in new taxes they will never recover back, even by deductions they previously and currently are entitled to in order to live or even "survive" on. They depend on deductions to pay rent, utilities, food, clothing, transportation, maintenance, etc. All such deductions will dissipate.
Food is already spiking as if Value Added Taxes (VATs) are currently being applied, often spiking 30 - 50% in this last year alone. Some meats like better cuts of beef and bacon have already spiked between 80 - 120% in just the last 12 months alone. Hyper-inflation is already here in the supermarkets and in various goods we already buy, that is, if VATs are not already secretly in place.
There are already 46.2 million American poor in or below the poverty line by the US Government's own statistics in the present under Obama's illegal Presidency. Not only will Cain's plan crush these 46.2 million, he will add as many as another 20,000,000 to 36,000,000 (and perhaps or probably more) to the poverty name roles (between this flat tax and the double down national sales tax which will add an automatic addition 18% of taxes of what tens of millions of consumers are paying now), and dry up what little income the poor have. Cain's 999 plan will simply slam the brakes on economic purchasing power so fiercely, you may as well add an additional 10 - 15% of Americans to the unemployment lines if it is ever implemented...easily allowing you to achieve or exceed the above 20-36 million new poverty level additions in that forecast.
Herman Cain's 9-9-9 plan does what?
Business Flat Tax – 9%
• Gross income less all investments, all purchases from other
businesses and all dividends paid to shareholders.
• Empowerment Zones will offer additional deductions for
payroll employed in the zone
• Individual Flat Tax – 9%
• Gross income less charitable deductions
• Empowerment Zones will offer additional deductions for
those living and/or working in the zone
• National Sales Tax – 9%
Michele Bachmann hits it out of the park even before we get into the details
Let's look at it again:
Herman Cain:
"Business Flat Tax – 9%
• Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders. "
My comments:
This is a business scheme that can loop-hole most all businesses by moving all profits into expenses, and profit-sharing: result, potential 0% income to the US Government.
In other words, it is "NET Profits". Years ago, a certain movie studio in Hollywood had a gross profit of over $400,000,000. It also had a contract with a certain someone who was to share in the "Net Profits" under the same above circumstances. By the time the accountants were done, the money dissipated into thin air, and the studio wrung its hands, and refused to pay its obligation. To my recollection, they also won in court by using legal acrobatics and mathematical contortions and manipulations. Cain's business plan will be a tax collection nightmare or flop because it clearly leaves a hole so wide open, it might as well be the US border shared with Mexico. Perhaps 6% of business revenues projected will ever be collected here. It is sheer incompetence, or intentionally moving the burden onto the individual.
• Empowerment Zones will offer additional deductions for payroll employed in the zone.
My Comments:
Most Americans presume that this will go to inner city areas or those in NEED of assistance for a hand up. The Language clearly invites abuse of racial or wealth preferences. It can be abused as a "blacks only"plan to the exclusion of Whites, Hispanic, and Asiatics, etc. It can be used to create only those Country Club Zones of the Uber-wealthy as paying NO taxes as long as they hold any kind of an income revenue job, from a CEO position to a seat on a board somewhere, or even 30 seats on 30 Boards of 30 different Companies, to a lowly city or town council job that pays even $50 a month. Additional deductions can mean just about ANYTHING he wants it to mean, NOT what we might naively presume. It is too ripe for abuse by a manipulation of what we might presume, and what HE may actually intend as an opposite of our innocence.
Most Americans presume that this will go to inner city areas or those in NEED of assistance for a hand up. The Language clearly invites abuse of racial or wealth preferences. It can be abused as a "blacks only"plan to the exclusion of Whites, Hispanic, and Asiatics, etc. It can be used to create only those Country Club Zones of the Uber-wealthy as paying NO taxes as long as they hold any kind of an income revenue job, from a CEO position to a seat on a board somewhere, or even 30 seats on 30 Boards of 30 different Companies, to a lowly city or town council job that pays even $50 a month. Additional deductions can mean just about ANYTHING he wants it to mean, NOT what we might naively presume. It is too ripe for abuse by a manipulation of what we might presume, and what HE may actually intend as an opposite of our innocence.
Herman Cain: • Individual Flat Tax – 9%
My Comments:
This will beat the poor, those earning under $30,000 with an additional average of $2,400 to $2,800 in new taxes they will never recover back, even by deductions they previously and currently are entitled to in order to live or even "survive" on. They depend on deductions to pay rent, utilities, food, clothing, transportation, maintenance, etc. All such deductions will dissipate.
Food is already spiking as if Value Added Taxes (VATs) are currently being applied, often spiking 30 - 50% in this last year alone. Some meats like better cuts of beef and bacon have already spiked between 80 - 120% in just the last 12 months alone. Hyper-inflation is already here in the supermarkets and in various goods we already buy, that is, if VATs are not already secretly in place.
There are already 46.2 million American poor in or below the poverty line by the US Government's own statistics in the present under Obama's illegal Presidency. Not only will Cain's plan crush these 46.2 million, he will add as many as another 20,000,000 to 36,000,000 (and perhaps or probably more) to the poverty name roles (between this flat tax and the double down national sales tax which will add an automatic addition 18% of taxes of what tens of millions of consumers are paying now), and dry up what little income the poor have. Cain's 999 plan will simply slam the brakes on economic purchasing power so fiercely, you may as well add an additional 10 - 15% of Americans to the unemployment lines if it is ever implemented...easily allowing you to achieve or exceed the above 20-36 million new poverty level additions in that forecast.
Herman Cain: • National Sales Tax – 9%
My Comments:
This is a double down on taxation. You pay a state tax of perhaps 9% at the register, and the next day and ever after, you pay 18% taxation on all goods.
Will you purchase more or less goods as a result? And what does Congress do whenever it raids hundreds of billions from Social Security's Trust Fund to help balance the National Budget? It goes on a wasteful spending spree. This national sales tax will send Congress into an additional wasteful spending spree of 2-3 trillion dollars annually, and its spending spree will exceed revenues collected by no later than the end of its first fiscal year. In other words, the 9-9-9 plan if accepted, will be Obama II and definitely collapse the US Economy to allow the installation of a Communist-Socialist Overthrow Government in place of our Republic.
Whether Herman Cain is intentionally economically incompetent or unintentionally so, consider this: he used to be a Board Member of the Federal Reserve, and is a Banking Insider on an elite US National Scale.
We don't need a Saul Alinsky dressed as a Republican Version of a United Kingdom and Colonies / British / Kenyan Natural born Citizen Barack Hussein Obama. We therefore do not need a Herman Cain for President, even though he actually is a US Natural Born Citizen. He needs to have his plan and platform shredded, and to be told to go back to making pizza if 9-9-9 (upside down as "6-6-6" as Bachmann humorously pointed outs - "the Devil's in the details") is the best that he can come up with. Good grief.
Between giving into Sharia Law compliance commitments and this 9-9-9 beat the poor, rather than give them a means to work their way OUT of poverty en masse, is just too much. I am sorely disappointed in the potential that almost was.
Herman Cain...I'm sorry, but based on the 999 plan and caving into Muslims to run their own laws on US soil contrary to US Law and the US Constitution, to carry out their own sentences, I most certainly cannot support you...and must very seriously doubt your publicly stated claim of having "honorable intentions." Your platform and agreements do not bear you out. Your early Republican Presidential Debate response in which you made a fully open and aimless deferring to "experts", i.e., for others to figure out even basic foreign policy decisions that you refuse to have in your own core to have resolved firstly and declare publicly, merely highlights the flaws of your candidacy, that you are as if you are just a figure-head with a few witty quips who can be puppetized. In other words, a Republican Barack Obama II. Sorry, Herman. No thanks.
I personally believe, after waiting and watching and reading and listening to you over several months, that you not only do NOT have the right answers to save America, but that you simply cannot be trusted to do anything but be an Republican Obama II with the end result of destroying the Republic of the United States of America, whether intentionally or not. I call for you to step out of the race for the Presidency of the United States for the above-mentioned reasons. Thank you.
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