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9 9 9

Posted Nov 4, '11 at 6:32pm

mdv96

mdv96

1,021 posts

9 9 9

Im sure we all heard of it, Herman Cain's 9 9 9 economic plan. The most appealing part of this to me is the 9% flat business tax. We (america) are the idiots who have a crushing 39% tax under the Obama regime. With a 39% business tax, is it a question why american businesses are going overseas? They have 2 choices:
1. Stay and go out of business
or
2. Leave and stay in business

With the 9% tax, not only will our businesses come home, but other foreign based businesses will come to america. I think this plan will thrust our country out of the recession. It will be far more effective (in a good way) than anything Obama has done so far for the economy.

What do you think?

 

Posted Nov 4, '11 at 6:54pm

dair5

dair5

3,475 posts

Well, I don't really know much about economics, but the way you made you point sounds good to me. But I think we'll need to do a lot more. I don't think that just lowering business tax will get us out of a recession. I think we'll have to do more, and that it'll take a while to work at first. So we'll need to cut some things, and use strategys to make money in other ways. Preferably before so that we're on safe ground before we do this.

 

Posted Nov 4, '11 at 6:57pm

mdv96

mdv96

1,021 posts

Of course. Government spending has to be cut dramatically. But since the 9 9 9 plan will create jobs, less money will need to be spend on food stamps and welfare.

 

Posted Nov 4, '11 at 6:59pm

Avorne

Avorne

3,265 posts

Aww, I thought this thread was about the British emergency services, anyways - hasn't he swapped his plan around a little since it was first announced?

 

Posted Nov 4, '11 at 7:47pm

Moe

Moe

1,783 posts

According to wikipedia we have a 34-35% corporate tax. And I highly doubt that has anything to do with Obama.

Also business leave because of more than just taxes. They also leave because we have a minimum wage that companies think is too high, yet is barely enough to live on.

 

Posted Nov 4, '11 at 8:01pm

partydevil

partydevil

5,119 posts

Im sure we all heard of it, Herman Cain's 9 9 9 economic plan. The most appealing part of this to me is the 9% flat business tax. We (america) are the idiots who have a crushing 39% tax under the Obama regime.


remember that those 30% now needs to be payed by the people.
if you just cut taxes you ruin yourself whit going bankrupt
 

Posted Nov 4, '11 at 9:42pm

waluigi

waluigi

1,954 posts

remember that those 30% now needs to be payed by the people.
if you just cut taxes you ruin yourself whit going bankrupt


However, if you notice, the 9-9-9 plan also cuts a persons income tax to 9%, leaving you with more money.
I do like the 9-9-9 plan as well. Lower business tax means more jobs, while lower income tax means you can keep your money.
One thing I'm not so sure about with this is what comes after the imposition of these taxes. The plan calls for a removal of the 16th amendment. I know no one likes taxes, but the government does need to collect some income tax. It also calls for a complete change to the IRS, which I'm not sure will be for the better or worse (I'm getting this from MDV's link).
 

Posted Nov 4, '11 at 9:46pm

zakyman

zakyman

1,682 posts

Herman Cain's plan has absolutely no sense in fiscal responsibility. The plan would reduce the income the government takes in, and would increase the amount payed by some citizens. While the plan would make corporate businesses pay less, some already have negative income taxes, because of the sheer number of loopholes in the system. I am in favor of closing those loopholes, and throwing the 9 9 9 plan out the window. If you support this plan, then have fun being owned by China, as our debt would increase dramatically.

 

Posted Nov 4, '11 at 10:04pm

JimmyDimples

JimmyDimples

76 posts

The problem's the spending. Even if tax is 100%, if the spending is 101% of that, it does no good.

And Cain has said, "Get this part. No loopholes for anybody."

Hey, if 10% is good enough for Jesus...

 

Posted Nov 4, '11 at 10:17pm

partydevil

partydevil

5,119 posts

have fun being owned by China, as our debt would increase dramatically.


the usa has only 2 trillion of the max 17 trillion debt left. untill countrys will stop giving usa money untill they pay. the usa will no longer be seen as that country we can trust on. just like the banks don't trust you as much anymore when your own debt went up to high.
 
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