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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (58598)	10/16/2011 8:21:06 PM
From: StockGamer	2 Recommendations Read Replies (2) \| Respond to of 103300

I can understand that. I too gain from 999 although I am far from retirement. Any retired couple making more than $80,000 of which $30,000 is from SS and the rest dividends and cap gains can be a net winner from Cain's plan, provided they don't spend everything. Those that make more than $200,000 really make out. But the majority of retired couples have substantially less income (half make less than $50,000) and they will be losers under Cain. They also vote a lot. The problem with Cain's plan is that the Bush tax cuts were not really only for the rich, they were mostly for the poor and moderate incomes, and because of them half of American households pay no Federal income tax. Cain's 999 will change that dramatically. They not only will have to pay 9% Federal sales tax, but they also have to pay 9% Federal income tax. I don't think it's a good move politically.