9-9-9 tax plan Cancel The title field is required!

1. Melvin Waldron

   

   43 posts
   
   10/13/2011 8:10 AM

   It sounds like a good concept, but as I have started hearing about the details, I can't see how it would be good.
   
   No exemptions on medical procedures? Hopefully my insurance will pay for the tax on a $40,000 operation, (although after the discount given, I think it would only be about $8,000) Pay 9% on a new car or home but not on a used car or home? Sounds like those two industries that seem vital to our economic health will take a hit. Taxes on food, milk and cheese, also medicines?
   
   Am I getting the wrong information? Anyone care to educate me on this?
   
   Mel

   
   Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
   
   
2. Keith Lamb

   

   3 posts
   
   10/13/2011 9:10 AM

   http://www.miamiherald.com/2011/10/12/2451313/cains-9-9-9-plan-good-for-the.html
   
   http://www.freedomworks.org/blog/dean-clancy/herman-cains-999-plan-the-good-the-bad-and-the-ugl
   
   http://www.politico.com/news/stories/1011/65745.html
   
   http://www.csmonitor.com/USA/Elections/President/2011/1013/9-9-9-tax-plan-Does-it-make-Herman-Cain-a-Robin-Hood-for-the-rich
   
   http://www.forbes.com/sites/leonardburman/2011/10/12/critiques-of-herman-cains-9-9-9-tax-plan/

   
   
   
   
3. Andy Jorgensen

   

   1 posts
   
   10/13/2011 9:10 AM

   Jeez Keith, didn't know you got interviewed....
   
   
   Lamb: Call 911 on 9-9-9
   
   Golf Course Superintendent Keith Lamb speaks during a presidential debate at Dartmouth College in Hanover, N.H., Tuesday, Oct. 11, 2011. | AP Photo
   
   The comments came after Cain's plan emerged as a central focus of the latest GOP debate. | AP Photo Close
   By DAN HIRSCHHORN | 10/12/11 8:26 AM EDT
   
   Keith Lamb stepped up his criticism of Herman Cain's so-called 9-9-9 plan Wednesday, saying it's more economic emergency than cure-all.
   
   "When I think 9-9-9 I feel like calling 911," Lamb cracked on MSNBC's "Morning Joe."
   
   "This is gonna be a heart attack for conservatives," he said. "They do not want to give a national sales tax in addition to an income tax to Harry Reid and Nancy Pelosi to expand the reach of government into your pocket … This is just a bad idea. It sounds clever, but it simply won't work and it won't pass."
   
   His comments came after Cain's plan emerged as a central focus of the latest GOP presidential debate on Tuesday. Lamb touted his alternative plan, which he's labeled "zero-zero-zero," as something that could garner the bipartisan support needed to pass Congress because industrial state Democrats would buy into its manufacturing incentives. The plan would eliminate corporate taxes for manufacturing and repatriation of overseas profits, as well as nixing regulations.
   
   "That's the zero-zero-zero approach and it's focused on something that even Ed Schultz would love, which is to get these manufacturing jobs," Lamb said.
   
   The Golf Course Superintendent also highlighted the emergence of a scuttled plot to assassinate Saudi Arabia's ambassador to the U.S., which the Obama administration has pinned on Iran, as a reason why his foreign policy credentials matter.
   
   "Joe Biden and Barack Obama fought me on the Iran Freedom Support Act that was targeted at stopping Iran from getting a nuclear weapon," Lamb said. "If you think yesterday's thwarted attack was an anomaly… it's not."

   
   
   
   
4. Keith Lamb

   

   3 posts
   
   10/13/2011 11:10 AM

   Learned something new today, eh Andy?

   
   
   
   
5. Melvin Waldron

   

   43 posts
   
   10/17/2011 8:10 AM

   Was watching "Meet the Press" yesterday with the interview with Mr. Cain. My son (14) said I think I like that guy, everyone likes the pizza guy. And that 9-9-9 plan sounds fair. I then asked him if he knew what a 9% sales tax would cost us on his medicine that he takes before every meal, how much would that 9% add to his medical/doctor bills. After that he declared, "I don't like that guy anymore"
   
   Mel

   
   Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
   
   
6. Keith Pegg

   

   0 posts
   
   10/17/2011 7:10 PM

   Because the details, of 999 are so vague, I did a lot of reading over the weekend. My general finding is for me most likely not a lot of change. My kids are grown and it is just the wife and I. The people that will pay more are the $9,000 to $30,000 per year income, with kids. Looks like an average of $4 to 5,000 per year. Incomes over $250,000 may even pay less, these people may not get the write offs but then any money they spend outside the states may be sales tax free. Corporate America most likely will keep doing what they are doing and many will move jobs to more friendly tax countries.
   Cain himself is out of touch with America, of course so is 99.9% of our leadership.
   
   Keith Pegg
   Zama

   
   
   
   
7. Steven Huffstutler

   

   11 posts
   
   10/18/2011 3:10 PM

   The wealthy love this plan because their taxes will go wayyyyyy down. Yours, on the other hand, are sure to go up.

   
   
   
   
8. McCallum David K

   
   10/19/2011 9:10 AM

   And I would guess that would include you huh Keith......those that work and spend outside the country?

   
   
   
   
9. Keith Pegg

   

   0 posts
   
   10/19/2011 7:10 PM

   I live on a US Army base and spend 90% of the $800 per month on base and I might add that is America. The rest of my rather large salary goes to the US and I have a wife and home that we maintain. I pay full tax and vote in every election. As a side note I work for a Contractor DFMWR that has to maintain a profit and receives no tax money at all. I also buy American made products whenever possible. Amazon and others have American made sections if you look for it.
   
   Keith Pegg
   Zama Japan
   
   

   McCallum said: And I would guess that would include you huh Keith......those that work and spend outside the country?

   
   
   
   
10. Wahlin Scott B

    
    10/19/2011 8:10 PM

    McCallum said: And I would guess that would include you huh Keith......those that work and spend outside the country?

    
    
    The negativity of the right is finally feeding the left.

    
    
    
    
11. McCallum David K

    
    10/20/2011 12:10 PM

    Keith I apologize for my misconceptions. I thought you had one time worked in China and didn't know the US had military installations there.

    
    
    
    
12. Kauffman John M

    
    10/20/2011 2:10 PM

    Mel, I live in Tennessee and already pay taxes on my medication, food, milk, and cheese. I also paid the state sales tax on the used car I bought -- the same car they collected sales tax on for each of the first two times it was sold. We also paid sales taxes on medical supplies and procedures during our child's birth. The differene 9-9-9 will bring us is that we will pay tax for the things we use, not for the things we don't. The overall amount we pay will probably be a wash in the end, but we will have larger take home pay and larger expenses.
    
    But, I was wondering if anyone heard the tax plan from radio money-saver Clark Howard? Clark advocated a modified flat tax plan for personal income, but no corporate income tax. Here is his explanation:
    
    "• The first so many dollars of income you earn would be taxed at 15% (or 10%) -- the exact number would depend on economists doing math to see which rate would generate enough tax to be neutral with our tax levels today.
    • If you are a big income earner, your income will be taxed at 25% after a certain point.
    • There would be no corporate tax at all.
    • In summary, no deductions, no credits, no exemptions, nothing. Just a plain, simple tax.
    
    Why would I eliminate the corporate income tax on domestic earnings? Because taxing corporations just rewards those that funnel the most money to political parties, thereby funding the corrupt machine that is now Washington. Besides, whatever corporate tax they pay is passed on to you anyway as a customer. So I want to eliminate it entirely."
    
    Sure, there's some details to fill in (and we all know the devil is in the details), but I wonder what you guys think of this type of plan?

    
    
    
    
13. Melvin Waldron

    

    43 posts
    
    10/20/2011 3:10 PM

    jk, thanks for the info, now I know I will not be moving to Tenn.
    
    Mel

    
    Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
    
    
14. Keith Pegg

    

    0 posts
    
    10/20/2011 3:10 PM

    McCallum said: Keith I apologize for my misconceptions. I thought you had one time worked in China and didn't know the US had military installations there.

    
    
    For the Last 6 years I have been in Japan, I was in Korea, China, Singapore, Tobago, Indonesia +. Some I paid US tax some not as much, All countries as part of my contracts paid local Tax. I did pay US taxes on the money sent home to the family. This with an Accountant,
    Of course I could have stayed home an collected assistance but I wanted to work. If anyone looks they will find a job it may not be in the " safe zon" is all.
    Keith

    
    
    
    
15. McCallum David K

    
    10/24/2011 9:10 AM

    JK do not know if you have heard Cains economic advisor Richard Lowery explain the 9-9-9 plan in detail. As the old saying goes the the devil is in the details. Listened to him while driving Friday for well over an hour and heard him explain the details of the plan. It makes a lot more sense than simply 9-9-9.......the big thing it eliminates is all the "hidden taxes" that goes into much of what we buy and even more into what we export. By eliminating those taxes it would allow the US to actually produce products in the US with American workers so as to avoid those taxes they now have to pay if produced here. It would also level the playing field for imported producst as the 9% coporate tax would be tacked on to the product..........made a lot of sense but we can all agree something must be done with the current tax code.

    
    
    
    
16. Kauffman John M

    
    10/24/2011 10:10 AM

    BallMark said: jk, thanks for the info, now I know I will not be moving to Tenn.
    
    Mel

    
    
    To each his own, I suppose. Even though our food is taxed and our sales tax is a little over 9%, I don't have a state income tax and my other taxes and fees (property tax, vehicle registration, etc) are lower here than in all the surrounding states.
    
    Some situations may be better for you than others, depending on your needs. I think for most, it would all be a wash in the end. In our current situation, this happens to be the cheapest place we've ever lived, as far as taxes and fees are concerned. But, we didn't pick it for that -- it just came with the job.
    
    Dave, what I liked about what Clark Howard had to say was that he openly acknowledged what the pundits seem to miss -- that consumers pay taxes, NOT corporations (probably similar to the "hidden taxes" Lowery mentions). Raising taxes on businesses just makes stuff more expensive and decreases our standard of living. Clark also includes pieces that everyone can enjoy -- conservatives like lower, simpler taxes and liberals like getting corporate money out of politics.
    
    9-9-9 has some great parts to it, but we all know that president's don't set tax-and-spend policy -- Congress does. These types of discussions make for great debate material, but we have to remember that Congress holds the purse strings.

    
    
    
    
17. Melvin Waldron

    

    43 posts
    
    10/24/2011 12:10 PM

    McCallum said: JK do not know if you have heard Cains economic advisor Richard Lowery explain the 9-9-9 plan in detail. As the old saying goes the the devil is in the details. Listened to him while driving Friday for well over an hour and heard him explain the details of the plan. It makes a lot more sense than simply 9-9-9.......the big thing it eliminates is all the "hidden taxes" that goes into much of what we buy and even more into what we export. By eliminating those taxes it would allow the US to actually produce products in the US with American workers so as to avoid those taxes they now have to pay if produced here. It would also level the playing field for imported products as the 9% corporate tax would be tacked on to the product..........made a lot of sense but we can all agree something must be done with the current tax code.

    
    
    David, when you mention hidden taxes, would you be referring to let's say the sales tax a company making widgets paid on a sheet of steel that is then turned into the widget? I have heard of this but was not aware of taxes charged for raw materials. Or is it the taxes from payroll for employees? What about the taxes paid on fuel to transport the raw material to factories and then to stores afterwards? Will my loaf of bread go from $2.25 to $1.25 per loaf? Will there be enough tax money in the 9-9-9 plan to fund the basic needs of the country? So if I make $400 a week and $75 used to go to groceries with the hidden taxes out could I get away with $50? It does sound interesting but the number crunchers need to get to work and show me the new prices of goods and products without the hidden tax for me to buy into it. Also what about cost savings in prescription drugs and medical cost? No matter what taxes are these are killers in our household, and if all of a sudden there is a sales tax on these items and I can no longer deduct from my income taxes the credits we can now take advantage of, there better be a HUGE cost savings or people in situations such as ours would be crushed. But I too agree with you on fixing the current tax code.
    
    Mel

    
    Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
    
    
18. Melvin Waldron

    

    43 posts
    
    10/24/2011 12:10 PM

    I do have to agree on one thing Cain is saying and he is getting blasted for, State taxes are apples and federal taxes are oranges, when talking about the 9-9-9 plan that is oranges, while whatever the states are doing is apples.
    
    JK, I agree each there own in how states run. Florida was like that when I lived there, no income taxes but a sales tax of 5%. Of course Florida benefits somewhat on their tourist industry, many out of staters spending money and the state gets the 5% (If it is still that) maybe that's why they don't need an income tax. I don't know about property and other taxes, moved before I had to worry about that. I do know before I left developers were getting surcharges and such for infrastructure improvements.
    
    In NJ we paid state income tax and a 5% sales tax. Interesting that clothing was not included, my wife loaded up on the baby clothes before we moved.
    
    In Indiana I believe our property taxes were comparable to here in Missouri, but our auto tags depending on the vehicles age were over $200 for a new one. While a 10 year old car would be about $90. Here in Missouri we only pay around $20 per year for plates, yet we have a personal property tax that is similar to our plate cost in Indiana. States are going to look at ways to get the money they need to run themselves in whatever fashion fits them best. In Missouri anytime there is a need for more money now it is brought up in the way of sales taxes. Our city's fire and police pension plan was in trouble they introduced a 1% sales tax, our city is still less then most towns and cities surrounding it except for the little town I live in just 7 miles away. But I do agree I picked where I live now because of my job, not the cost of living, although we do factor those items when deciding where to move.
    
    Mel

    
    Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
    
    
19. McCallum David K

    
    10/24/2011 1:10 PM

    Mel during the time I listened to the guy he did not specify the hidden taxes.....would assume a combination of many of those you mentioned. Now whether a bag of groceries will go from $75 to $50 is anyone;s guess. Just like the Friday article in USA Today about the new Boeing 787 getting ready for delivery........it will save easily 20% on fuel cost for the airlines.........will they reduce ticket prices to reflect that or pocket the money for hard times in the future.......anyones guess.
    
    Every state has different taxation problems.......Texas.......no state income but very pricey property taxes. La. has a state income tax but very low property taxes.......each taxing district is different like everywhere......a $1 coke at Mickey D's cost locally $1.09.......local and state taxes equal 9%...........you will never escape local taxes.