Herman Cain wins the Florida Republican Straw Poll

[mcpapa]

Not shocked at all. To me it fits in with the current GOP. It's designed to be simple, easy to say and can give GOP supporters a catch phrase to quote to their friends. It's also easily deduced that the plan would tax the "poor" who are currently not paying taxes which is something the majority of the GOP rants against.

 

I'm not "opposed" to a national tax. But spending should be priority #1 and until it's addressed a national tax isn't a workable solution.

 

I was being facetious - should have used one of those laughing smileys.

 

Actually, I am not at ALL surprised that something this simple and this generous to millionaires is getting a serious look within the conservative base. Although I understand that it was roundly criticized during last night's GOP debate.

 

Getting a handle on a huge budget deficit will be a two-part effort. Reduce spending and increase revenue.

[mcpapa]

So with this plan, a person may have to pay upwards of 14 to 15% tax on any and all items? What about food?

 

Does that also mean that with the restaurant meals taxes of some localities, a meal could have a tax bill of 18 to 20%?

 

I'm not against the plan, just trying to figure out what it really effects. One thing is for sure, the poor waiter/waitress better expect lower tips and thereby lower pay on that job.

 

Not if it's used food.

[mcpapa]

We are all looking for anything that is simpler and I think that's what catches people's attention. I think those that are supporting it are supporting it more as a concept than an actual plan to implement as it seems to be filled with questions if not flat out tax increases on many.

 

The concept is workable. It's just this particular plan that doesn't seem capable of working.

 

I edited your post this morning to highlight the phrase in bold, then had to go out and take care of some things.

 

I'm sure you are correct in that most of use want a simpler tax code. But to come up with this one on the back of a napkin in a pizza house, then trot it out as the answer to our budgetary woes is a bit much.

[woodsrider]

I was being facetious - should have used one of those laughing smileys.

 

Actually, I am not at ALL surprised that something this simple and this generous to millionaires is getting a serious look within the conservative base. Although I understand that it was roundly criticized during last night's GOP debate.

 

Getting a handle on a huge budget deficit will be a two-part effort. Reduce spending and increase revenue.

I think you are making an assumption that saying it is generous to millionaires. While it would definitely be an income tax cut to them I think the sales tax could more than make up for it. Of couse I am also making an assumption saying that just as Cain is making assumptions and the website Clyde linked too.

[mcpapa]

I think you are making an assumption that saying it is generous to millionaires. While it would definitely be an income tax cut to them I think the sales tax could more than make up for it. Of couse I am also making an assumption saying that just as Cain is making assumptions and the website Clyde linked too.

 

Maybe so.

 

But the article referenced by Clyde states (and yes, the author may also be making assumptions) that the average tax break to millionaires would be $487,300. Divide that by .09 (sales tax in the 999 plan) and the average millionaire will purchase something on the order of $5.4 million of new stuff per year to reach the break-even point.

 

Call me skeptical, but my guess is that the chosen few will make out okay.