Comment by Frank Gilbert Not very happy with the debate tonight as Herman Cain came out with a "999" tax reform plan? What the heck is that and what happened to the FairTax??? I had hopes that some other candidate would step up and mention the FairTax, but no such luck. Lets let these guys know we want the FairTax.
There are many people that are having concerns that Herman Cain is no longer supporting the FairTax. That is the farthest thing from the Truth.
People need to read the 9-9-9 economic plan. Here is a link to it. http://www.hermancain.com/wp-content/themes/hc/images/economicgrowt...
The plan includes two phases. The first phase Herman is offering to the "super committee" to implement this Fall before Thanksgiving. The idea is to start the country's economic turnaround. It is to lower the tax rates to a 9% business/corporate income tax rate; a 9% personal income tax rate; and a 9% national sales tax. This will eliminate all the payroll taxes and the vast majority of tax loopholes. Yes it is a flat income tax program. It is a taste of what many opponents to the FairTax have been proposing on the surface. The important thing to remember this is a temporary phase that can be put in place very quickly.
Phase two which the ground work that would be started will go into effect when Herman Cain becomes President (if adopted ahead of the elections) or shortly after phase one is put in place, is to educate the Congress and American People about HR-25 (as written). It will take some time to do this but to get the FairTax passed into law. There are many things that will need to be done before HR-25 goes into effect so there is a period of time that is required. Once the Federal government passes the FT, there are 36 State Legislatures that will have to meet and modify their state income tax laws. (There no longer will be an adjusted gross income on 1040 forms!)
The earliest that HR-25 could become effective would be January 1st, 2015. This plan is a stepping stone to getting HR-25 as the law of the land.
Once we get all the FairTax Advocates to understand the 9-9-9 economic plan as Herman Cain has proposed it, we will be able to calm the fears of everyone else.
That's a refreshing way to look at The FairTax. I suggest adding how much income a household of four makes to spend $58,000. I suspect people will relate better to associating income to spending since most people focus on how much a person earns, not only what is spent.
I would like to know what source you use to cite the $58,000. I'm sure people will ask that same question. I also suggest at the 2012 FB page Cain's plan be rejected for the reasons I stated in this thread and others at this website. Cain's plan will destroy The FairTax if we do not address the problem head on.
Dan, Bill Spillane posted this to the CAFairTax Group on yahoo, so I think he dig the work. I used the FairTax calculator and kind of arbitrarily punched in some numbers for a family of 4 and got 13.2%. I'm guessing that was his starting point.
Cain is getting hit hard on this now from both sides. So maybe we can get him back under the 0-0-0-11% idea (FairTax). I read an article where Warren Buffett would pay less tax under 9-9-9 than he does now. Of course he complains that he'd rather pay more, but he still deducts for charitable giving, so what gives? If he wanted to pay more why'd he take the deduction?
Thank you for providing some sanity regarding this inane idea. I suggest you also contact Aaron Schutte at AFFT headquarters to voice your displeasure if you have not already done so. You can contact him at 713-963-9023 or firstname.lastname@example.org. You may also want to contact your District, State and Regional Directors. Those who believe The FairTax by itself is the only effective alternative tax plan to the federal income tax.