Meet The Candidates: 2012 GOP Thread

[mlmpetert]

Originally Posted by saden1

Few questions since you guys are to cowardly to ask and answer the obvious tough questions.


1. Are you planning on mandating the payroll tax be given to employees as bonuses as part of the tax code overhaul or will you leave that up to the employers?

2. What about grandma and grandpa who don't have income? Where are their bonuses going to come from or should I say their medicare and social security?

3. Let's not forgot about the future of our children too...where the hell is the money to pay down the debt going to come from? I am guessing not from the plummeting tax revenue.

4. What if you're disabled? Are you on your own or will there be any safety net for you?

Ill answear a little differently:

1) Absolutely it has be a mandate when initially rolled out.

2) Currently 50% or 85% (depending on AGI) of SS, and i think medicare, income is counted towards your current taxable income and then taxed. These numbers would have to be adjusted to reflect a "bonus" to seniors, simply because AARP and the senior voting block is powerful enough to dictate it.

3) Revenues may not go down like some say. Some reports say its going up, some say going down while Cain says it will be revenue neutral. The thing missing from Cain's plan are details, which he can finalize based off of the current public reaction. I will also add that capital gains and estates are currently not taxed under 999, so he has a couple easy revenue boosters to employee if needed. Plus if need be you could always tax income of the wealthy higher, nobody likes those guys anyways. So maybe 9/9/9 up until you make like 250k then its 20/9/9.

4) Im not really sure what you mean? Entitlement programs not part of the tax code will continue for disabled people just like food stamps will continue for poor people. Maybe youre talking about SS and Medicare. Though 999 doesn’t detail how these are funded theyre not going away, it would be politically impossible. As long as it’s a revenue neutral event and still pulls in 2.2 trillion then neither will go away and everyone’s happy. Cain also touts the Chilean Model for SS for fixing SS. Medicare is the much bigger issue but that will have to be dealt with anyways.