I've Got A 9-9-9 Plan Too! 99.9% On Richest Americans.

Corporate America is practically forcing everyone to work (for free) now. What's the difference?

 

Difference is they have cash savings for basic necessities, as they are wealthy. They don't NEED to work.

Poor people need to sell their labor to have cash to buy these necessities. They NEED to work.

 

You're right. My bad.

 

LOL, give up trying to explain that one. It's obvious some people won't be happy until the evil rich is forced to pay all of their wages in taxes.

 

Making a lot of money is not a sin. In fact, it's virtuous because it means you're serving society.

 

Income is what goes in your pocket, and he's not the only multibillionaire income around.

 

A lot of money is OK.

If a guy with a $2 Billion/year gross income got taxed down to $2 Million/year, he'd still be making "a lot of money". His tax would be 99.9%

 

So why do you only make 10/hour? Did you apply yourself while in HS which is free for everyone? Did you have a 4.0 average? Did you graduate college? What was your major? Did you get a degree in something "bankable" or a liberal arts degree?

Remember.... just because someone has somethng that you want... does not give you a claim on it.... merely for the fact that they have it.... and YOU want it.... It is not the fault of the rich that you are poor.... you have done that to yourself.....

 

Atlas WILL shrug!!!!

 

And that's a perfectly fair point to make. But let's look at it from a practical standpoint.

The wealth gap is widening dramatically. There are many, MANY more poor people than there are rich people. And those poor people are just as greedy as the rich people.

Do you think those poor people, Especially the ones that are working and trying to be productive, are just going to watch the gap widen, Watch the rich lord their lifestyles over us, and say 'Oh, well. They earned it. Guess I'll just take what I can get'?

No, They will not. Things will not remain the way they are right now forever. Eventually, Change will come. It's just a matter of how it will come.

Some will manage to pull themselves out of poverty through their own will and ability. Sadly, I don't think this will be a majority of the poor, For many reasons including laziness of the poor person, And the greed and ability to keep poor people down that the rich have.

Many will go the legal route, And elect government that represents their desires. This is weath re-distribution. My only hope is that if this happens, That the masses take a moderate approach, and try to make laws that both the rich and the poor can agree with.

Many others, Including ones that try the legal route and fail, Will go the last route. The violent route. They will do whatever they have to do in order to just TAKE the wealth from the wealthy. When this happens, Either a revolution will take place, or the poor will be brutally put down and slain. Those that remain on both sides will likely be worse off. The rich will be less rich, and many people will be killed.

If you are willing to be a part of a revolution, and risk the loss of health and well being, Then just sit tight and let the chips fall. If you want to avoid revolution and bloodshed, Then now is the time to talk to your congressmen and women. Try to convince them to enact laws that lower the wage gap with the least loss of freedom. Time is running out.

Thank you for your time.

 

The rich like the system just as it is. They're quite happy to let the rest of the world go to Helle as long as they aren't disturbed.

Revolution and bloodshed? No big deal to them. They probably have that in their portfolios.

 

Right now you have a 35% corporate tax, passed onto consumers. A 20-35% federal income tax. A 12.6% SSC tax. A 15-35% capital gains tax. And a 8% medicare tax.

In terms of the 9-9-9 plan, we currently have an effective 35% (corporate taxes get passed to consumers anyways) sales tax, and a 30-50% income tax.

If the plan were to go into effect we would effectively have a 18% sales tax (versus 35%) and a 9% income tax (versus 30-50%).

I don't know about you but 18% is less than 35%, and 9% is less than 30-50%. This 9-9-9 is a tax cut.

And if we were to go one step further into the fair tax, we could get rid of the 430 billion dollar IRS industry. That could pay for ssc itself.

I think the main thing you're currently missing is that the price of corporate goods would drop roughly 25%. From 35% taxes, to 18% taxes. From $135 for a barrel of oil, to $118 a barrel of oil. Add on to that instead of making $750 a paycheck, you could make $910 a paycheck. That's a free barrel of oil every 2 weeks!

Check your math, I'm an engineer. I cut costs for a living. I'll take the 9-9-9 plan anyday over this (*)(*)(*)(*)hole we have now.

 

you don't seem to understand what you're saying, so I will try to help. Zuckerberg owns a large percent of the corporation facebook. lets say for the sake of argument zuckerberg owns 24% of facebook. facebook is not a public company. therefore, any valuation given to it would be purely speculative. according to your assertion zuckerberg's share of facebook grew by 2 billion last year. since facebook grew by 114% last year, that would give it a valuation of roughly 8.4 billion. that might be a little bit low, but really it doesn't matter, zuckerbergs gains are unrealized capital appreciation.

you suggest that zuckerberg be taxed 99.9%. that would mean that the government would confiscate 23.976% of the shares of facebook. that would mean zuckerbergs new ownership percentage would be .024%. your policy would be to confiscate facebook from its founder thereby reducing his 2 billion in capital gains, to 2 million in total capital. do you even have the slightest clue how absurd that is? to suggest that the government would be reasonable in taxing 99.9% of unrealized capital gains would mean that the govnernment in one year would confiscate a majority share in nearly every business in existence.

that's an asinine idea.

 

They will, actually. Most people like work, and few people care much about money, though they like what it will buy.

 

The $10/hour was just a figure of speech. Actually I'm unemployed right now, but I do receive Social Security.

As for the rich, they are being UNDERtaxed, and have been for the past 30 years. The money that the rich could/should be paying would go to things that have nothing to do with me (like infrastructure repair in Tennessee and California where I don't live).

 

Yeah, but the scenario is your idea, not mine. I was talking about taxing individuals, not businesses. And businesses could have their taxes raised too, if they could afford it. Ones that can't could be hardship exempt.
Actually, the 99.9% tax isn't that far off from the 94% tax we had during World War II, and the 91-92% tax we had for 13 straight years (1951-1963), when we had prosperity, big strong government, strong national defense, repaired infrastructure, plenty of disaster relief, etc.

 

Reread my post, sir. Zuckerberg was your example. You want to tax his unrealized capital gains at 99.9%, which means you want government to confiscate businesses.

 

You assume that because corporate tax would be reduced that we would automatically see the price of corporate good drop 25%!? You may be an engineer, but you're no bean-counter. I've spent my working life since 1980 working in high-vi markets for two different Fortune 50 corporations, and based on my experience it would be completely unrealistic to expect such breathtaking price cuts from any company.

The math? Even if your projections were accurate, most middle and lower income class workers would simply be putting their extra money in one pocket, and then taking it out of the other pocket to pay State, Local, and also Federal Sales Taxes that would very likely total 15% to 20%.

Thus, about the best case you could make for the 999 Plan is that it leaves the middle and lower income classes right where they are, and that is NOT going to be good enough for voters to throw Comrade Obama out of office. Why? Because as bad as things are, they know they'll keep their deductions for having children, mortgages, and the other goodies that Americans have loved for decades. Especially to those in the lower-middle economic class, Obama will be more appealing because they know he'll continue to be their "welfare cornucopia", and he'll keep the food stamps, the AFDC, the TANF, the untility bill subidies, the socialized medicine, the endless unemployment benefits, and all the other tasty trappings of Socialism coming their way.

If nothing else, please include this in your economic algorithm: if half the U. S. population doesn't pay any income tax at all right now, why the hell would they be excited about having the personal income tax lowered, but then have to pay government sales taxes that total 15% to 20%? We cannot win the election by winning only the votes of the upper-middle and wealthy income classes....

 

So basically you believe that the rich need to "bribe" the poor not to riot or cause crimes. So in essence... keep them (a bit less ) poor...still dumb.... but asleep. Am I understanding that right? That is a bit like bribing criminals to give up illegal activity.

 

i certainly feel for you. I was out of work for 8 months. It was a dark black time. I am single... and no one financially supports me. It was very hard watching my bank account drop every week. I hope you find work soon...

As for your opinions on the "rich". Why do you believe others are entitled to things that they did not earn? If I showed you mathmatically (which I can do) that even if you took ALL of the money from the richest 1% it STILL would not make a dent in the deficit, or jobs going up, or just about any other society ill that I can think of. It might make you FEEL better to STICK IT to that rich guy. But it really does not HELP much of anything.

 

You've been brainwashed by the rich and their lackeys the Republicans. If you took ALL of the money from the richest 1% it certainly would make a dent in the deficit, and a lot of jobs could be created with that money. A lot of infrastructure could be repaired, a lot of ICE agents could be hired, which in turn could put 8 million Americans back to work and save billions from being lost to remittance$$$$$$$. I doubt if your math is even covering half of all the compounding factors that are involved here.

As for the deficit the richest 1% could end it in 5 years, but for a quicker fix :

The wealthiest 20% of the US households are set to receive about $6.5 Trillion in personal income this year, half of all national personal income. Their average tax burden is around 26%, or about $1.7 Trillion. This leaves them with $4.8 Trillion of disposable income each year.

The current budget deficit is around $1.2 Trillion, or about one fourth of the disposable income of the wealthiest. They could be taxed enough to eliminate the budget deficit and still receive 3/4 of their income.

If you want stats they are at census.gov and bea.gov

 

Obama haters can forget about winning the 2012 election now anyway after Senatorial Republican idiots have doomed Romney's chances by voting against the jobs bill, with the millionaire tax and extension of unemployment benefits. Romney would be lucky to get 35% of the popular vote or win even 3 states electorally now.

"While some on principles baptized
To strict party platform ties
Social clubs in drag disguise
Outsiders they can freely criticize
Tell nothing except who to idolize
And then say God bless him."

Bob Dylan

 

All this Nine Nine Nine Nazi talk is for the simple minded as it is easy and simple to understand.

If you look at the reality the rich will make out like fat money.
1) 9% sales tax is a small fraction for a wealthy person to pay. If you need food and water, 9% sales tax is a larger amount for a poor person to pay.

2) the wealthy only pay 17% incometax because most of their money comes from investment, not wage and not salery. The lame who work for a wage and salery will pay more when they start charging higher State tax to make up for the debt that the fed will push off on the States.

3) no estate tax, if you do not know about estate tax, you ain't getting over a million $ as a gift, so forget about it. You are not privilaged.

4) 9% income tax will drive the federal government into a depression with no money to pay off wars, and other money making programs for the wealthy. So this will not fly with the rich.

5) People who pay no sales tax for food will soon be paying the highest taxes on record for food. thought your grocery bill was large with inflation, just add about 9% more.

6) you like healthcare premiums to go up, just wait to see how high they can get. Soon killing and dying will be cheaper than paying off an insurance company, or the medical industry.

This simpleton Cain is just anohter Mark for the boradcast media to own. Let the Cain collect the campain money and pay the broadcast media moguls for air time.

Pelople like to vote for failures. Most simpletons do not know that buisness owners fail a few times before they get it right. America can't afford to have a buisness president fail in government a few times and run for re-election to get it right. But then again failures like to vote for failures, because they can relate to failing.

 

In addition to what you've said, there's also the factor that the rich do a much larger % of their purchasing OUTSIDE of the USA, an not subject to US sales tax, whereas the poor and middle class do a much larger % (if not all of it) of their spending in their local neighborhoods. In fact, many of them have never even been outside the US, and maybe never will. Thus, the US sales tax fall heavier on the poor and MC.
Also the rich already have many of the items that poor and MC people buy.
If you owned a furniture store would would you rather see receive a stimulus check, the rich or the poor. 95% of that money would probably translate into sales from the lower classes who need that furniture. So again, more inside the US sales from the poor guys.

 

Currently that tax is dead weight, yes I believe the theoretical drop would be close to the real drop. Plus any deductions and loopholes the largest corporations currently get away with.

No, they would make roughly (the lowest bracket) 32% more income, from $690/mo to $910. And goods would cost roughly 20% less. From $135 to $118.

They might have two pockets like you said, but apparently they would be putting more money in one pocket, and spending less from the other pocket.

And why do I keep hearing this completely illogical argument about state taxes? If you're taxed less at the federal level, you are taxed less overall. Regardless of whatever ridiculous taxes your state has put in place.

It's as if you take a large thorn out of someones side, and put in a smaller one in a different spot. They scream and cry murder, when you really overall just helped them out.

They don't pay any taxes because they don't work, it has nothing to do with the difference between the current system and the 9-9-9 plan. And many of the ones not paying any income tax are *retired* and they pay corporate and sales taxes through consumption. Without a consumption tax you cannot tax the ultra rich because they have *no* income.

If we had a 90% federal income tax, you would prefer a 15-20% sales tax. And that is exactly what happens in the 9-9-9 plan, you move from a larger tax to a smaller tax, everyone does. Except people who are off-the-books and this is how the 9-9-9 plan stays revenue nuetral. People off the books still pay a sales and corporate tax, and corporations can't exploit loopholes to avoid the corporate tax.

So essentially it does tax the rich more than the poor, but it does so in a fair manner that doesn't tax people who make 250k-1million who are just barely in rich territory, and also hire jobs.

It also encourages small business growth.

Seriously this plan is amazing, everyone should like it (including the rich and small corporations) except *corrupt* rich people who are currently making a killing. This includes unions, politicians, huge corporations, etc.