Herman Cain's Pick A Tax Poll

Below is a message I received from Herman Cain regarding a poll he is conducting to pick a federal tax plan that he promises to get behind on his daily radio program & other public appearances.  Since Neal Boortz retired in January the FairTax has not had a regular national radio voice proponent & this poll gives us a chance to reunite with Herman.  (Neal also had been a guest from time to time on FNC - Megyn Kelly, Neil Cavuto, Fox & Friends, & Sean Hannity - spreading the FairTax word.  In his last book Neal says he does not know why that ended about this time last year.)

 

The three choices for the poll are the FairTax, the Heritage Foundation's New Flat Tax, & 9-9-9.  Herman provides his own thumbnail sketch below describing each of these plans.

 

Herman knows the FairTax always wins these types of polls so I think he is using his poll as a mechanism for him to get back on board the FairTax team after his brief sojourn to 9-9-9.

 

Let's not let him down – you can cast your vote by clicking on the link @ the bottom of the page.  FairTax national says "Cain states that once his audience makes their choice, he will go national with a replace the tax code program 'that the politicians cannot ignore.' In order to vote, you must 'opt-in' to his program so your vote counts, however, his site also says you can 'opt-out' after you vote."

 

 

!CAIN Alert!Take Action!CAIN Alert!Take Action!CAIN Alert!Take Action! 

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FAIR TAX

The FairTax is a revenue-neutral, single-rate, federal retail sales tax collected only once, at the final point of purchase of new goods and services for personal consumption. Used items are not taxed. It includes:

 

• A 23 percent (of the tax-inclusive sales price) sales tax imposed on all retail sales for personal consumption of new goods and services.

• While permitting no exemptions, the FairTax provides a monthly universal prebate to ensure that each family unit can consume tax-free at or beyond the poverty level, with the overall effect of making the FairTax progressive in application. As a result, a person spending at the poverty level has a 0 percent effective tax rate, whereas someone spending at twice the poverty level has an effective tax rate of 11.5 percent, and so on.

 

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NEW FLAT TAX

The Heritage Foundation's New Flat Tax (NFT), part of Saving the American Dream, replaces today's complex tax system with one that is simple and fair.  The New Flat Tax is simple, revenue-neutral, and will allow America to achieve its full economic potential. Among the details:

 

• Currently, in addition to the income tax, the federal government imposes a payroll tax, death tax, and a slew of excises. The New Flat Tax replaces them all for individuals, families, and businesses with one tax system with one tax rate of roughly 28 percent.

• Two Tax Credits: The New Flat Tax retains the Earned Income Credit to preserve the level of income support for low-wage workers. And low- and middle-income families also receive a tax credit of $3,000 ($2,500 for singles) toward the purchase of health insurance.

• Three Deductions: The only remaining deductions are for higher education, gifts and charitable contributions, and an optional home mortgage interest deduction.

• In 1996 Steve Forbes supported a flat tax of 17 percent on all personal and corporate earned income (unearned income such as capital gains, pensions, inheritance, and savings would be exempt.) He supported keeping the first $33,000 of income exempt.

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9-9-9 Tax Plan                 

The revenue neutral 9-9-9 plan would replace all current taxes, including the payroll tax, capital gains tax, and the estate tax and taxes on repatriated profits. The plan would establish the following:

 

• A 9% corporate flat tax. Businesses would deduct purchases from other businesses and all capital investment. The resulting gross income is taxed at 9 percent.

• A 9% personal flat tax. Individuals would deduct charitable contributions, then pay 9 percent on the rest of their income. Capital gains are excluded.

 

• A 9% national sales tax. This levy would be placed on the consumption of all new goods. Used goods purchased would be excluded.

CAST YOUR VOTE NOW!