Peter Schiff: The missing 9 in Cain's 9-9-9 tax plan = 9-9-9-9 plan?

Much of the plan's virtue lies in its elimination of Social Security and Medicare taxes (payroll taxes) that fall heaviest on lower income workers. This includes the 6.2% Social Security tax and the 1.5% Medicare tax paid directly by the worker. But it also includes the 6.2% and 1.5% portions paid indirectly by workers through their employers. Payroll taxes are, in reality, a cost of employment.
From the employer's perspective these costs are part of the wage package. Absent these taxes, employers could raise wages by an equivalent amount without raising labor costs. Inclusive of this portion, payroll taxes currently cost workers 15.4% of their wages.
The Cain plan scraps this tax. But the elimination of wage deductibility from corporate taxes replaces it with a 9% payroll tax. Therefore a more honest name for Cain's proposal is the 9-9-9-9 plan. The forth nine changes everything.


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Well I guess this makes Cain's tax plan 9-9-9-9 but if you live below the poverty level, it would be 9-0-9 or 9-0-9-9.


Some might say, well Art Laffer, the father of modern economics backed Cain's 9-9-9 or 9-0-9 tax plan copied from 1996 but I'd say Peter Schiff destroyed Art Laffer in a economic debate while predicting the economic collapse years ago.

It may be disturbing to some that the 9-9-9 looks a bit like the 666, which, when combined with the name Cain sends a religious meaning. Cain was marked for his murder of Abel, and was sent away with that mark so that no one would kill him for his deed. If we consider the end and the beginning of things, it might make some think that we are nearing an end when a man named Cain proposes a plan for us with these numbers of similar shape. Just a thought. Not a fully developed thought, just came into my head. Must ponder it more. Thanks for reading....

Originally posted by Jim Scott
It may be disturbing to some that the 9-9-9 looks a bit like the 666, which, when combined with the name Cain sends a religious meaning. Cain was marked for his murder of Abel, and was sent away with that mark so that no one would kill him for his deed. If we consider the end and the beginning of things, it might make some think that we are nearing an end when a man named Cain proposes a plan for us with these numbers of similar shape. Just a thought. Not a fully developed thought, just came into my head. Must ponder it more. Thanks for reading....

LOL, when i first heard Michelle Bachman insinuate this in the debate I thought she was a loon. She is a loon. So does that mean if you buy a shirt for 9.99 at Walmart and you stand on your head you are invoking the antichrist?