Herman Cain Rebuts Misleading Ad Against FairTax

Herman sets the record straight about the FairTax. Some candidates are deceiving the voters about the facts in order to gain political advantage over their opponent. How can you trust someone that is willing to lie about something as important as the FairTax for personal gain.

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[Fairtaxmax]

FairTaxisaLie: You need to learn more about this. Independant studies do not support your claims. In addition, there is no business to business tax under the FairTax. You have gotten some incorrect information.

[1969was1969]

@HardyMachia Simply put, they fudge the data to claim someone is a "gainer" if his income falls under FT from say $40,000 a year to less than $10,001 a year.

They do this by comparing, in TABLE 13, the example person's income under FT not to the timeline under the FT, but to now--thus each year that example person is middleclass, they have him worse off,each year he is poor, they have him better off- notice how they consider him WORSE OFF each year his income rises from poor to middleclass.

[1969was1969]

@HardyMachia The quote is not out of context, you have not looked closely at Table 13, years 7-8, to see HOW they claim middleclass people (who'd pay more in taxes under FT/NASTI) would be be "better off"-- by having them fall into POVERTY every few years (since people in poverty would be slightly better off than now, a couple of hundred dollars). Look at and understand Table 13, notice which years they have the "utility"(well-being) going up-- it is income mobility INTO POVERTY, not to wealth.

[Fedupwitliberaliars]

@1969was1969

and you just a damn liar

[1969was1969]

Another TABLE from American's for Fair Taxation's research which gives away what the Fair Tax really is (a plan to make the middleclasses work more to have the same standard of living as now, while the wealthy get much wealthier under it), see TABLE 5 page 26 at tinyurl 593htl. Notice which income groups labor supply increases the most ($0-$149k) and which grps real wages increase the most (more than $150k, up 48%). Notice how the $50k group works10.3% more for a wage increase of 1.5%. Ouch.

[1969was1969]

So far Cain is batting 0 0 0 with the tax plans he supports-- both the "Fair" Tax and 999 would raise the taxes of the middleclasses and lower the taxes of the wealthy.

[MerlinYoda]

@specialmommy What are you talking about? Nowhere in my comment did I say they were exempt under the FairTax ... and even if they were exempt from various consumption/sales/excise taxes currently, there's still the matter of the cost due to corporate taxation embedded in the price.

[Ddstairclimber]

@HardyMachia he runs on baisacly the same principles as PAul. Yea we do need a simplified tax system.

however it would be best one with 6 or 7 brackets so the ultra rich pay more.

[HardyMachia]

@abhishek28951 Why settle? Gary Johnson will give you both!

[HardyMachia]

@Ddstairclimber If you want someone who is good on social issues and support the FairTax then google Gary Johnson. Johnson is only candidate promising to submit a balanced budget proposal to Congress in 2013.