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Tuesday, October 18, 2011

9-9-9 or really 6-6-6?

The Problem

With the 2012 presidential elections coming up it seems each of our candidates are becoming more and more stupid as the days pass. I won't even start on Michele Bachmann as that would be a book long. Instead we look at Presidential Candidate Herman Cain. If you know him for anything it is probably his 9-9-9 tax reform plan. It certainly helped him move to number one in the polls. But what is this plan? That is the question that needs to be asked and yet no one has really looked into it. The 9-9-9 plan is supposed to replace the current complicated tax system with an easy flat rate but does it really work? Short answer is no. Now for the long explanation.

Alright so lets start off with the rich and work our way down. The rich currently pay taxes on income and property near 18% yet under this new plan they would only pay 9%. Make sense to you because to me it looks like the richest 1% just got a whole lot more wealthy. Now for the middle class. They would probably make out with only minor damage but a lot of people probably wouldn't be able to afford all this new taxing without tax breaks. Now for the worst part of this plan, the poor. Those people who currently pay $0 in tax and even get money back. Those people can hardly live on the money they make even without taxes yet we want to have them cough up 27% of their wealth? We would literally be killing these humans. This new tax plan would only make the rich richer and the poor poorer which to me makes very little sense. Why are we letting this Cain guy get to the top of the polls with such a crap idea such as this? Why do so many people agree with this issue? Is it because the population just doesn't understand or what?

The Solution?

Alright so now I know most people end here but that is stupid. Why name a problem if you don't offer a solution right? Here is mine. Now by no means am I any good with economics or anything like that so I am uninformed however maybe this will spark someones imagination and they can come up with something great.

  • Alright so the poor. I say anyone that brings in under a certain amount should pay no taxes. That's pretty simple and really it should be, why make those who can't afford to live as it is pay more? 
  • Middle class should pay roughly what they are today if not a little more. 
  1. I know we all hate taxes but how else do you expect things like schools and roads and every other government sponsored thing (FDA) to operate? Seriously guys, we all hate taxes but guess what if you don't pay them or try to pay as little as possible, you can't have a government protect you from all the little nasties in the world. 
  • Alright now that that rant is over lets move on to the rich. First thing is first and lets understand this very carefully, certain people making millions of dollars never see that money come back to them. 
  1. Why you might ask? Some of those people pour their money back into their business. So if you tax them as heavily as say Bill Gates, you end up hurting small business and therefore the economy.
  2. So my way of dealing with the rich is to go by businesses. Break up businesses by how much they bring in annually and how many employees they have. Obviously a company like Apple should pay way more taxes than your local barber. 
  3. Next up is the employee side of things. The more employees a company hires the more tax breaks they should get. Why? Because companies hate taxes and so if you give them breaks for hiring people (as long as they aren't losing more money on the employees) then more people can be hired and earning more money to pay more taxes and buy things to jumpstart the economy. 

Economics is not a simple thing. It is by far one of the most complicated systems out there but it doesn't have to be. It isn't that hard to see that the poor should pay less taxes than the rich and that people making billions of dollars should pay more than the owner of your local pizza joint. If you really want change then the average citizen needs to educate themselves on what is going on, what their government is doing, you as a human being and as a member of society need to become active in the things around you, in your government and its policies. Those people currently protesting in WallStreet? Great job bringing the issue to the eyes of us all but how about you all get together and come up with a solution? That would be great, thanks.

As always, have a great day and of course the question of the day: What do you think about the 9-9-9 plan? Leave your creative and wonderful comments down below and I will see you next time.

Credit to:
For Devil Picture
For Obama

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