This is a classy toon Tony! Love it! Romney and Perry (especially Perry) are such idiots lol!
As always, Great job!
Thank you Corkie. I wish Cain could explain his plan better. .. Comes down to this; If we are now paying 10.00 for a pound of coffee because of all the built in taxes and when you remove those built in taxes it only cost 5.00 with 9% sales tax would equal aprox 5.50. I don’t think folks would mind that kind of savings in everything they pay for.
The Fair Tax Book does a good job explaining how embedded taxes will be removed from all products once the plan is implemented. Having been a fan of Mr. Cain’s long before he announced his bid for the nomination, I have not looked too closely at the particulars of the 9-9-9 plan. I did not realize that it would go as far as removing the embedded taxes as well. Our current tax structure is failing us and punishing the achievement we so sorely need to get our economy moving again. We have nothing to lose by trying a different solution such as Mr. Cain’s idea or the Fair Tax itself.
Thank tou for the comment Stu.. That’s good way to look at it.
stu11926, It would wholly depend upon who the “we” are that you refer to in your comment: “We have nothing to lose by trying a different solution such as Mr. Cain’s idea…”
This week, the nonpartisan Tax Policy Center added its devastating analysis to the growing list of negative assessments of the Cain 9-9-9 plan: https://taxpolicycenter.org/numbers/displayatab.cfm?DocID=3221
As the Washington Post’s Ezra Klein showed using TPC data, while raising taxes on most Americans Cain’s payday to the richest is literally off the charts: https://www.washingtonpost.com/blogs/ezra-klein/post/the-9-9-9-plan-in-one-very-long-graph/2011/08/25/gIQAgq8WxL_blog.html
As Center for American Progress Vice President for Economic Policy Michael Ettlinger put it: “[Herman Cain’s 9-9-9 plan] would be the biggest tax shift from the wealthy to the middle-class in the history of taxation, ever, anywhere.”
But That’s what necessarily happens when you cut the top income tax rate from 35% to 9%, eliminate the Earned Income Tax Credit for working Americans, and zero out the capital gains tax: https://www.perrspectives.com/blog/archives/002302.htm
At least Cain had the courage to put up a plan! Where has the democrat’s budget been for the past 3 years? Why haven’t all those progressive “economists” drew up a real budget for Reid to put up in the Senate? What happened to the Progressive President’s budget bill? HUGE bi-partisanship in voting down Obama’s fairy tale progressive budget!
All these economic wizards of the progressive communist Party USA cited there and THEY HAVEN”T produced a budget for 3 straight years! And we are supposed to listen to what those propagandists say? NOT QUITE
But still the middle-class taxes would go down drastically.