The Liberal Politics & Current Events Book Club discussion
US politics
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Herman Cain's 9-9-9 Plan to Redistribute Wealth From the Poor to the Rich
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I think Rachel Maddow referred to this graph on her show recently, but as I was listening to it as a podcast I didn't see it until just now.
How do people like him get the support of people they obviously have so much contempt for? I'd like to say to those folks, he thinks you're not millionaires because you're too lazy and he thinks you're too stupid to look at the numbers behind his tax plan. I guess he's half right.
How do people like him get the support of people they obviously have so much contempt for? I'd like to say to those folks, he thinks you're not millionaires because you're too lazy and he thinks you're too stupid to look at the numbers behind his tax plan. I guess he's half right.
While I am a fan of a flat tax rate I am not a fan of the 9-9-9 plan. Why is it equal across the board?The problem I have with the graphs is that it does not account for loopholes that people who have more disposable income have. For example most families who make under $50K file the 1040a so not many deductions where as people who make over $100K typically have to use the 1040 form because they have so many loopholes.
Personally I would just rather pay my percentage and be done with it. Yes the wealthy make more and have to pay for more but they have more to spend. Having said that I am also sensitive to the fact that asking someone who makes very little money to pay 20% in income taxes is nuts because they simply cannot afford it and yes I know we could use the poverty line as an indicator. Then the issues is a family of 4 who makes $33K a year is exempt but a family of 4 who makes $34K is not.
I cannot believe anyone who isn't extremely wealthy is in favour of this!I know there are arguments in favour of flat rate income tax (although no decent ones at this low level) but I'm afraid I don't buy them. The arguments usually go that the wealthier contribute more through sales tax due to their greater disposable income, but there are two problems with this. Firstly, the wealthy are far more likely to avoid tax in all areas by use of accountants but, more importantly, the lower your earnings the higher PROPORTION of that you HAVE to spend on sales taxes. I know the types differ - the standard in the UK is that we pay 20% (15% in some cases) except on items not considered luxuries - pretty much limited to staple foods and children's clothes. To claim that the vast majority of this is discretionary spending is ludicrous, and it obviously hits harder those least ale to afford it.
http://boingboing.net/2011/10/19/visu...