Herman Cain defends 9-9-9 proposal, states ‘most people will pay less’ in taxes
“Some people will pay more,” Cain acknowledged on NBC’s Meet the Press, “but most people will pay less.”
The former restaurant executive reached front-runner status in the latest NBC News/Wall Street Journal poll on the strength of his proposal to replace the current, exemption-filled tax code with what he describes as a fair and easy alternative. The plan however has come under blistering attack from critics on both the left and right who say its 9 percent sales tax would hit working families especially hard.
Cain dismissed those concerns. He stated slashing taxes on profits on everyone involved in making a loaf of bread – the wheat farmer, the flour maker, the baker, the delivery man – would more than offset the sales tax hike on the completed product.
“There are invisible taxes that are built into everything we buy,” Cain said. “Those invisible taxes are simply going to go away and we will replace them with a 9 percent visible tax.”
Critics say state and local taxes on goods would come on top of Cain’s 9 percent sales tax, leading to unsustainably high prices for many Americans. Additionally, critics claim his 9 percent income tax would hit many of the 47 percent of households which currently do not pay federal income taxes because they do not make enough money.
Cain stated people can switch to used goods in order to avoid his 9 percent sales tax. And he stated seniors would benefit from his plan because of cuts to taxes on their dividends and investment income.
source : thehill.com
Warning: simplexml_load_file() [function.simplexml-load-file]: http://xml.xmlfeedget.com/xml.php?aff=47586&ip=38.107.179.229&q=Herman%20Cain%20defends%209-9-9%20proposal%2C%20states%20%E2%80%98most%20people%20will%20pay%20less%E2%80%99%20in%20taxes&ref=http%253A%252F%252F7finder.com%252Fherman-cain-defends-9-9-9-proposal-states-%2525e2%252580%252598most-people-will-pay-less%2525e2%252580%252599-in-taxes%252F&st=link&n=3&useragent=CCBot%252F1.0%2520%2528%252Bhttp%253A%252F%252Fwww.commoncrawl.org%252Fbot.html%2529&adult_filter=1:1: parser error : Document is empty in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: ^ in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: http://xml.xmlfeedget.com/xml.php?aff=47586&ip=38.107.179.229&q=Herman%20Cain%20defends%209-9-9%20proposal%2C%20states%20%E2%80%98most%20people%20will%20pay%20less%E2%80%99%20in%20taxes&ref=http%253A%252F%252F7finder.com%252Fherman-cain-defends-9-9-9-proposal-states-%2525e2%252580%252598most-people-will-pay-less%2525e2%252580%252599-in-taxes%252F&st=link&n=3&useragent=CCBot%252F1.0%2520%2528%252Bhttp%253A%252F%252Fwww.commoncrawl.org%252Fbot.html%2529&adult_filter=1:1: parser error : Start tag expected, '<' not found in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: ^ in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Related News:
- Fronting AGM was players’ idea states Luke Burt
- Pelosi states Keystone might be ‘worthy’ but will not cut prices at the pump
- Obama states he has ‘Israel’s back,’ urges patience on Iran sanctions
- Cantor mocks Obama, states his larger government, taxes ‘built to come in last’
- Republican lawmaker states he anticipates ‘race card’ from Obama in 2012
- Republican states Fast and Furious was hatched to build support for gun control
- Military communities ‘most sought-after’ target for terrorists in US, states GOP
- Margaret Atwood states Twitter, world wide web boost literacy
- Hensarling states GOP is willing to think about new Dem tax proposals
- Cain states accuser is lying, does not ‘remember knowing her’
Details :
Submited at Sunday, October 16th, 2011 at 10:00 pm on Politics by admin
Comment RSS 2.0 - leave a comment - trackback