A rich person spends only 5-33% of their income annually? Where are you getting that from? I had a friend that made over 10M in 3 years and purchased a 3M home, a Bentley, a Lamborghini, a 15 Carat ring, and went on multiple trips, etc. He still had quite a bit, but he was spending. As to poor people, there is a reason why they are poor and why lottery tickets are so popular. This always seems to be the biggest argument. People have already countered that with stating that the lowest sector would be exempt from any tax. Call your argument what it rightfully is: you don't like this move because you think you will pay more in taxes. You won't, but that is your stance.
The fact of the matter is poor people spend nearly all of their income while rich people do not. Therefore, a national sales tax would be regressive and tax poor people at a higher % of their income than the rich. Is that clear enough? Did you ever think your friend may not be representative of rich people as a whole? What do lottery tickets have to do with this? You also have zero idea of what my income is. Let's focus and stay on topic instead of digressing into personal nonsense.
Nothing personal. i assume you're in the middle class. my point was that there have been proposals exempting the poverty class, making your argument less powerful.
Are you ready for gotcha questions like, who is the president of Uzbekistan Mr. Cain? Herb Cain Quote: When they ask me this, I`ll say: Ubeckbeckibeckystanistan, you know I don't know. Do you know? How is knowing this going to create one job? Knowing who is the head of some of these small insignificant states is not going to get this economy going nor is it important to national security. When I go to visit that country I'll know who it is. (NOT an exact quote, but in essence this was his response) LOL, pure jokes. This guy is a clown, his time in the spotlight will end soon, especially if he answers questions like this.
Less powerful? If you say so. One thing all of these flat-tax pipedreams seem to have in common is they leave a huge revenue shortfall. How do you resolve that? If you answer with a generic "cut spending" without any specifics, just go away and don't waste any more time here. If you can't tell already, flat tax concepts have been debated here before. If you don't have anything new, no use in discussing further.
Well, so you concede that this would tax the middle class at a higher rate than the wealthy. I assume you, too, are in the middle class and have been brainwashed by Fox and friends to accept arguments that favor the wealthy.
Fox News? Now who is trying to take personal jabs. How has the current system worked? Why would you defend it? I've seen corporations not paying any taxes before, and there are tons of loopholes that accountants make their living finding. enough is enough. Time to do something that nobody can avoid. Here is at least an unbiased article reviewing it on Yahoo. http://finance.yahoo.com/news/Herman-Cains-999-tax-plan-cnnm-976918316.html?x=0
i would also say that i am fine with around a 60% tax on anyone making over 10M; perhaps more in the short-term. But it needs to be determined as a short-term tax, much like in WWII. The other law i think needs to be immediately passed is accountability. I think something as simple of any bonus needing to be vested over a ten year period would stop a lot of the crap that wall street has done in the past 10 years.
like Obama then? is Obama's experience being black in america (Harvard, Columbia) somehow more authentic than Cain's (Morehouse)? other than a wife w/ a badonkadonk, what does Obama have in common with most of black america?
Before he was famous he was probably trailed more by security in stores, was assumed to be less educated, probably inspired fear in white people when walking down the road, was assumed by some to be lazy, dishonest, and prone to criminal activity based only on his race. People are still more willing to believe he doesn't love his country, isn't really an American, only achieved the successes he he's achieved because of his race, or affirmative action, and didn't really deserve any of what he's achieved as much as some white guy probably did etc. He's probably experienced a lot in common with most of Black America.
I wonder why that picture even if it wasn't photo chopped would make you think those things of him. Oh that's right you buy into racial stereotypes.
Obama's not negro enough for basso again - surprising. I give this phase about 2 weeks, then he'll become Eldridge Cleaver crossed with Nat Turner with a giant axe ready to raid his wife's precious lactation and pillage his "where does it come from" kiddos.
basso ruining another non-Obama conversation with all-consuming Obama hatred: must be a day on the planet Earth. (And yes, to save you the trouble of typing it -- people hated Bush and injected him into threads. Please stick to one major derail per thread, TIA.)
Poor people are stupids who spend money on Lotto and cheeze doodles but your idiot friend spent the vast majority of his net worth on top of the market real estate & depreciating luxury assets like cars and jewelry, or total write-offs like vacation? I'd like to meet this idiot friend of yours and jingle a set of keys in front of him, much like you would in order to distract an infant, on the chance that he offer me his last $250,000 in return for a bright shiny object. I also have a rock that repels bears and can get my hand on used Sharper Image and Bang & Oluffsson goods, should he prove creditworthy, which I am willing to refurbish and pass along to him.
Considering that only the cars were depreciating assets, I'm not sure this means what you think it means. Likewise, not all rich folk are Scrooge McDuck. In fact, most aren't.
