Herman Cain's Tax Plan Brings SimCity to Real Life

Not G. Ivingname

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Acting like a FOOL said:
Not G. Ivingname said:
I think he just using the oldest marketing trick in the book, to use nines to make people think it so much smaller then they think "10%" tax rate is.
as of now American citizens pay 23% of their income in taxes then there's taxes on property,exchange etc.
O_O

...I retract my statement.
 

hexFrank202

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Mar 21, 2010
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This means Herman Cain kicks ass!

Oh wait, that's right, Herman Cain kicks ass for many other reasons. Sorry, I forgot about that for a second.
 

ike42

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mjc0961 said:
I hope it's 9 percent flat tax for all individuals with no limit. Tax breaks for the rich are insanely stupid.
Actually if you look at it, it's a huge tax break for the rich and a huge tax increase for the poor and middle class. He also said that he wanted to change it eventually to 30% sales tax which is an even bigger middle finger to the lower classes. What does he care though, he's not poor.
 

samsonguy920

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I'm all for that, except the sales tax. Besides that being ridiculous for the lesser Gross State Product states, every state that currently has a sales tax will just tack theirs on to the national one.

That being said, cool that a politician can reference a game without demonizing it.
Not G. Ivingname said:
Acting like a FOOL said:
Not G. Ivingname said:
I think he just using the oldest marketing trick in the book, to use nines to make people think it so much smaller then they think "10%" tax rate is.
as of now American citizens pay 23% of their income in taxes then there's taxes on property,exchange etc.
O_O

...I retract my statement.
But don't let that bother you, as that is actually less than what you are paying to Social Security, which there is still no guarantee you will see returned unless you file for disability now. At least right now each year you have a chance of getting some of what you put into Income Tax back.

I wouldn't be so eager to hold the guy on your shoulders, people.
 

Jabberwock King

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Mar 27, 2011
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Further proof that republicans have no understanding of good economics. It's bad enough that they trumpet the supposed "virtues" of an outdated and thoroughly flawed economic model, but now some idiot became the front-runner in that circus. Not the 1st time, considering the existence of Donald Trump.
 

Skizle

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Saucycardog said:
That's how republicans practice running a country. They play SimCity 4.

I kid, I kid. Don't want to turn this into political debate thread.

Anyway, I find this amusing as well. But doesn't 9 percent seem a little high for some people?
Yea a 9% sales tax is a bit high to me, but I would support it if they raised the national minimum wage...but that will never happen
 

Mortuorum

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Oct 20, 2010
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9% for incomes over the poverty level (which is what Cain proposes) is much more reasonable than the present top marginal tax rate. The real kicker is the 9% federal sales tax provision. It's steep and there would need to be exemptions for subsistence items (food, heating oil, etc.) to avoid overtaxing the impoverished.

And for everyone mocking his plan, at least he has a plan, which is more than can be said for hte rest of the slate of Republican hopefuls... or the present Democratic incumbent.
 

Raithnor

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Mortuorum said:
9% for incomes over the poverty level (which is what Cain proposes) is much more reasonable than the present top marginal tax rate. The real kicker is the 9% federal sales tax provision. It's steep and there would need to be exemptions for subsistence items (food, heating oil, etc.) to avoid overtaxing the impoverished.

And for everyone mocking his plan, at least he has a plan, which is more than can be said for hte rest of the slate of Republican hopefuls... or the present Democratic incumbent.
The top marginal income tax rate in the US is 35% but it only apply on incomes higher than $379,150.

The amount of Federal Income Tax that would be paid by someone making $379,150 is $110,016.50 or about 29% of Gross Income. Now any income earned above that is taxed at 35%. So if you maded $379,151 you'd pay $110,016.85

There are deductions, most involve having children or owning a home however to reduce the amount of income that is used to determine how much income tax you own.

Also keep in mind these are just WAGES, Capital Gains which is income taxed from investments is taxed at a much lower rate, about 15%.

Cain's plan essentially turns into a 27% flat tax on wages. All income eventually gets spent in the long run and the corporate tax will be pushed down to comsumers in higher prices. Meanwhile the Captial Gains and Estate taxes (Which only matter to people dying with more than $5 Million in assets) go poof.

The total amount of federal income take you pay depends on how much you make:

8,500 = 10%
34,500 = 13.8%
83,600 = 20.4%
174,400 = 24.3%

Although your paycheck would have less taken out of it, everything would be much more expensive as a result.

Here's the thing about the SimCity tax system: The tax rates in SimCity are PROPERTY taxes not income taxes. The amount of revenue they generates is a function of desirability of a given zone, not the people in it. Residential areas benefit from low pollution and proximity to parks as well as basic services such as power and water. Industrial Zones benefits the most from access to a workforce and a transportation network. Commercial areas require a mix of the two.

So if they did get 9-9-9 from SimCity they didn't understand how to play the game.
 

Not G. Ivingname

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samsonguy920 said:
I'm all for that, except the sales tax. Besides that being ridiculous for the lesser Gross State Product states, every state that currently has a sales tax will just tack theirs on to the national one.

That being said, cool that a politician can reference a game without demonizing it.
Not G. Ivingname said:
Acting like a FOOL said:
Not G. Ivingname said:
I think he just using the oldest marketing trick in the book, to use nines to make people think it so much smaller then they think "10%" tax rate is.
as of now American citizens pay 23% of their income in taxes then there's taxes on property,exchange etc.
O_O

...I retract my statement.
But don't let that bother you, as that is actually less than what you are paying to Social Security, which there is still no guarantee you will see returned unless you file for disability now. At least right now each year you have a chance of getting some of what you put into Income Tax back.

I wouldn't be so eager to hold the guy on your shoulders, people.
D:

Do they have all these taxes in Mexico?
 

Inyssius

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Jan 27, 2010
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By "it's simple" and "it's fair", what you mean to say is "it sounds simple" and "it's incredibly unfair, logically problematic, and a terrible idea from almost any economic viewpoint", right?
 

BabyRaptor

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Mortuorum said:
9% for incomes over the poverty level (which is what Cain proposes) is much more reasonable than the present top marginal tax rate. The real kicker is the 9% federal sales tax provision. It's steep and there would need to be exemptions for subsistence items (food, heating oil, etc.) to avoid overtaxing the impoverished.

And for everyone mocking his plan, at least he has a plan, which is more than can be said for hte rest of the slate of Republican hopefuls... or the present Democratic incumbent.
The Democrats' plan has been the same (and out there) since this entire mess began: Let the Bush tax cuts expire. There's a ton of data out there that backs this idea up.

Problem is, the Democrats don't have the Republicans' messaging skills.

On topic, I don't have much of an opinion on Herman Cain, but this does remind me of the Republicans screaming that nobody ever listened to their healthcare plan, only for them to show up waving around blank pieces of paper when given a chance to talk.
 

t3hmaniac

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The problem arises when they find out what happens when they lower the transport budget.
 

Spud of Doom

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9% is a very, very, very low rate of taxation. Far too low for the USA to support that bottomless pit of a military. Anybody who thinks they can actually pull that off without cutting pretty much all government services (education, health, transport) or putting an enormous load onto the national debt is seriously mistaken.
 

bootz

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Aww man I hope he doesn't spawn fires and tornadoes and ufos just for giggles

Also his 999 plan upside down is 666 think about that, why would you advertise that unless rapture is coming.
 

Xanthious

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Unfortunately for Cain I have just as much chance of writing a tax plan up on this discarded tissue in my waste bin and getting it passed as he does of passing that 9/9/9 plan. Even if he wins the White House (which is highly unlikely as Romney is pretty much all but written in on the ballots at this point) republicans and democrats both will shoot that thing down with a quickness. The conservatives will never let a new 9% federal sales tax pass on their watch while the liberals won't raise the taxes on the poor and middle class, many of whom pay no taxes at all and some even make money come tax time. Bottom line is this plan of his will be dead in the water before it's ever proposed.
 

Sean951

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Xanthious said:
Unfortunately for Cain I have just as much chance of writing a tax plan up on this discarded tissue in my waste bin and getting it passed as he does of passing that 9/9/9 plan. Even if he wins the White House (which is highly unlikely as Romney is pretty much all but written in on the ballots at this point) republicans and democrats both will shoot that thing down with a quickness. The conservatives will never let a new 9% federal sales tax pass on their watch while the liberals won't raise the taxes on the poor and middle class, many of whom pay no taxes at all and some even make money come tax time. Bottom line is this plan of his will be dead in the water before it's ever proposed.
The 47% of people who don't pay income taxes can do so because they make so little. The top 1% earns roughly 20% of the total income in the country, so I think it's more than fair to expect them to bear the burden of paying more taxes than the bottom 50% who earn only 13% of the total income.
 

Strazdas

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May 28, 2011
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Saucycardog said:
That's how republicans practice running a country. They play SimCity 4.

I kid, I kid. Don't want to turn this into political debate thread.

Anyway, I find this amusing as well. But doesn't 9 percent seem a little high for some people?
high? i was about to come and talk about it being low.
here we have 24, 21, 15
and especially with american problems they need way higher than that.