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So are people supposed to be bothered by this? If it's a good idea, WGAF where it came from? Frankly I think a loophole free, simplified tax structure simple enough to put in to a video game would do wonders for this country.
Herman Cain’s 9-9-9 plan: Inspired by 'SimCity'
http://theweek.com/article/index/220...red-by-simcity
The tantalizing question: Did Herman Cain lift his 9-9-9 tax plan from the computer game SimCity 4? Former Godfather's Pizza CEO Herman Cain "has jumped to the top of Republican polls thanks to a bold tax scheme called the '9-9-9 Plan,'" says Jared Newman in TIME. "But it'd be even bolder if SimCity hadn't come up with the idea eight years ago."
ip Katsarelis, a senior producer for Maxis, the company that created the SimCity series, was excited that politicians may be looking to video games for ideas.
"We encourage politicians to continue to look to innovative games like SimCity for inspiration for social and economic change," said Katsarelis. "While we at Maxis and Electronic Arts do not endorse any political candidates or their platforms, it's interesting to see GOP candidate Herman Cain propose a simplified tax system like one we designed for the video game SimCity 4."
How well did the 9-9-9 plan work in SimCity?
"Running SimCity 4 on its default tax setting was a disaster waiting to happen," says Bridgette P. LaVictoire in Lez Get Real. Unless you used a cheat code, "you ran out of money pretty fast, in fact, and had to go deep into debt." But even if it had worked, there's a pretty huge difference between running a fake city and the most powerful nation on earth. Also, notes TIME's Newman, "Sim City 4 features meteors, UFOs, and robot attacks, which would probably mess up most attempts at realistic modeling."
So are people supposed to be bothered by this? If it's a good idea, WGAF where it came from? Frankly I think a loophole free, simplified tax structure simple enough to put in to a video game would do wonders for this country.
agree.
actually I like Cain, he's funny. And getting ideas from video games puts him higher on my list.
he's my #3 option.
1. Obama
2. Romney
3. Cain
win - win - win
9-9-9 is horribly regressive taxation, but what else is expected from a wealthy right-wing ideologue with no political experience?
I agree with both coyotes geek and b-d.
Person 1 makes $50,000 working as a carpenter. Spends every dime.
He pays: $4,500 in income tax
He pays: $4,500 is sales tax
Total tax liability = $9,000
Business owner who has a salary of $250,000 - and whose company earned a profit of $80,000. Spent all but $20,000 of his earnings
He pays: $22,500 in income tax
He pays: $20,700 is sales tax
He pays: $7,200 in corporate tax
Total tax liability: $50,400
I don't understand why this is regressive.
can you elaborate?
I didn't say is wasn't less regressive than we currently have, I just was wondering what B's definition of "regressive" was.
Thanks for the link, btw, I, in theory, am kind of supportive of 9-9-9, but if that article is accurate, the actual details are not what I would assume. Cain taxes payroll as business profit, but NOT purchases with other companies? Would hurt me a great deal; mine is a service industry, 80% of expenses ARE payroll. Also, not taxing capital gains as income is ridiculous.
Not anymore; the business tax would actually be a lot higher bases on what WH posted; actual profit would be irrelevant; the taxes would be much closer to 9% of the businesses total revenue (say $2,000,000) than just on the $80K. And, as the article indicates, large companies would be much more adept and capable of exploiting the gaping loopholes (not taxing payments to other businesses, and no tax on international expenses) than would small ones.
the big boys would remain untouchable.
still, plenty of ways to mask actual income.
JMO, but I think if you excluded things like food and utilities from the 9% sales tax and only applied the 9% income tax to income over the poverty line you'd go a long ways towards easing concerns over the system being regressive.
exactly. The ubber rich would just buy their overseas tax free.
Problem is, the 1,000 word blurb on Herman Cain's campaign website is the plan. Presumably it will get fleshed out more fully if Cain continues to shine.
Last edited by Winehole23; 10-14-2011 at 02:13 PM. Reason: fleshed out flesh
But the experience of the George W. Bush administration was that cuts in tax rates on the wealthy and on capital gains had no effect whatsoever on growth, according to the Congressional Research Service.
<dismiss pe ioner>
With a first class ticket to Butsville.
Quite frankly, these numbers would be too low. Good luck paying off this country's debt with this structure.
you can always use a cheat code to get $10,000,000 in the treasury
^
The illustration was not intended to address that issue, and made no comment on it one way or the other.
The richer you are, the lower your effective tax rate is.
Person A: 9000/50000 = .18
Person B (scenario A) = 50,400/330,000 = .152727
Person B (scenario B) = 43,200/250,000 = .1728
Person C = 1,350,000/10,000,000 = .135
Scenario A is including both the corporate taxes as well as the earnings
Scenario B is excluding the above.
Person C is someone who makes 10M and spends 5M.
Not to mention that the proposal, from what I read, would make dividends tax-free.
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