[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

"The 2nd Impeachment: Trump’s Popularity Still Scares Them to Death"

"President Badass"

"Jasmine Crockett's Train Wreck Interview Was a Disaster"

"How Israel Used Spies, Smuggled Drones and AI to Stun and Hobble Iran"

There hasn’T been ... a single updaTe To This siTe --- since I joined.

"This Is Not What Authoritarianism Looks Like"

America Erupts… ICE Raids Takeover The Streets

AC/DC- Riff Raff + Go Down [VH1 Uncut, July 5, 1996]

Why is Peter Schiff calling Bitcoin a ‘giant cult’ and how does this impact market sentiment?

Esso Your Butt Buddy Horseshit jacks off to that shit

"The Addled Activist Mind"

"Don’t Stop with Harvard"

"Does the Biden Cover-Up Have Two Layers?"

"Pete Rose, 'Shoeless' Joe Reinstated by MLB, Eligible for HOF"

"'Major Breakthrough': Here Are the Details on the China Trade Deal"

Freepers Still Love war

Parody ... Jump / Trump --- van Halen jump

"The Democrat Meltdown Continues"

"Yes, We Need Deportations Without Due Process"

"Trump's Tariff Play Smart, Strategic, Working"

"Leftists Make Desperate Attempt to Discredit Photo of Abrego Garcia's MS-13 Tattoos. Here Are Receipts"

"Trump Administration Freezes $2 Billion After Harvard Refuses to Meet Demands"on After Harvard Refuses to Meet Demands

"Doctors Committing Insurance Fraud to Conceal Trans Procedures, Texas Children’s Whistleblower Testifies"

"Left Using '8647' Symbol for Violence Against Trump, Musk"

KawasakiÂ’s new rideable robohorse is straight out of a sci-fi novel

"Trade should work for America, not rule it"

"The Stakes Couldn’t Be Higher in Wisconsin’s Supreme Court Race – What’s at Risk for the GOP"

"How Trump caught big-government fans in their own trap"

‘Are You Prepared for Violence?’

Greek Orthodox Archbishop gives President Trump a Cross, tells him "Make America Invincible"

"Trump signs executive order eliminating the Department of Education!!!"

"If AOC Is the Democratic Future, the Party Is Even Worse Off Than We Think"

"Ending EPA Overreach"

Closest Look Ever at How Pyramids Were Built

Moment the SpaceX crew Meets Stranded ISS Crew

The Exodus Pharaoh EXPLAINED!

Did the Israelites Really Cross the Red Sea? Stunning Evidence of the Location of Red Sea Crossing!

Are we experiencing a Triumph of Orthodoxy?

Judge Napolitano with Konstantin Malofeev (Moscow, Russia)

"Trump Administration Cancels Most USAID Programs, Folds Others into State Department"

Introducing Manus: The General AI Agent

"Chinese Spies in Our Military? Straight to Jail"

Any suggestion that the USA and NATO are "Helping" or have ever helped Ukraine needs to be shot down instantly

"Real problem with the Palestinians: Nobody wants them"

ACDC & The Rolling Stones - Rock Me Baby

Magnus Carlsen gives a London System lesson!

"The Democrats Are Suffering Through a Drought of Generational Talent"

7 Tactics Of The Enemy To Weaken Your Faith

Strange And Biblical Events Are Happening

Every year ... BusiesT casino gambling day -- in Las Vegas


Status: Not Logged In; Sign In

United States News
See other United States News Articles

Title: Cain's 9-9-9 tax plan raises math questions
Source: Daily Herald
URL Source: http://www.heraldextra.com/news/nat ... 88-5c88-b0f5-8aaa1359e076.html
Published: Oct 7, 2011
Author: Daily Herald
Post Date: 2011-10-07 13:15:45 by go65
Keywords: None
Views: 1110
Comments: 5

WASHINGTON -- Herman Cain's bid for the Republican presidential nomination is fueled in part by his proposed tax code overhaul that tax policy veterans say doesn't add up.

Cain's proposal is gaining attention after a Washington Post-ABC News poll released Tuesday found his campaign is tied for second place with Texas Gov. Rick Perry among Republicans and Republican-leaning independents.

In campaign stops, Cain touts his 9-9-9 plan as a concept that will lead to a fairer tax system. The proposal would tax sales transactions and gross income for individuals and businesses at 9 percent while eliminating levies on capital gains. It also ends the taxes that fund Social Security, and corporations wouldn't pay a tax on dividends.

Following the broad contours of Cain's plan, the federal government would have collected almost $2 trillion in 2010, according to a Bloomberg News calculation based on data from the Commerce Department's Bureau of Economic Analysis. The government actually collected almost $2.2 trillion that year, according to the White House Office of Management and Budget.

Tax policy experts say Cain's plan is unrealistic because it presumes that no deductions and exemptions will be permitted, no matter now popular.

"Either Herman Cain is the tax messiah or is proposing a system that has no correspondence to real-world tax systems," said Edward Kleinbard, a former chief of staff to the congressional Joint Committee on Taxation. He is now a professor at the University of Southern California Gould School of Law.

Click for Full Text!

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

Begin Trace Mode for Comment # 5.

#4. To: go65 (#0)

This has already been posted.

Cain's math adds up just fine

jwpegler  posted on  2011-10-07   14:12:07 ET  Reply   Untrace   Trace   Private Reply  


#5. To: jwpegler (#4) (Edited)

#6. To: jwpegler (#5) (Edited)

JWP: There were also $200 billion of other taxes collected in 2010, including taxes on alcohol, tobacco, crude oil windfall, telephone calls, gasoline at the pump, estate and gift taxes, tariffs, etc.

WAR:Between you and Boofer I don't know who has the biggest reading comprehension problem.

2010 total taxes collected was about $2.2trl. Not $2.4trl. $2.2trl...as the article states.

And Cain can't even explain his math,..if he can't...a dumbfuck like you most certainly cannot either.

/dolt

war posted on 2011-10-05 16:25:26 ET Reply Trace Private Reply

war  posted on  2011-10-07   14:19:39 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 5.

        There are no replies to Comment # 5.


End Trace Mode for Comment # 5.

TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com