Talk of The Villages Florida - View Single Post - Cain's 999 Plan must have some support!
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Old 10-14-2011, 06:56 PM
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Originally Posted by buggyone View Post
A few things caught my eye while reading Cain's idea.

He says his plan would "end the IRS as we know it". What does that mean - as we know it? It will be something else that we do not know what it will be?

Also, "•Ends nearly all deductions and special interest favors

•Ends all payroll taxes

Income tax deductions such as interest on home mortgage will no longer be allowed. This is one big deduction that all of us used or still use and I would not like to see that go away; would you?

Ends all payroll taxes - this means Social Security tax will not be taken out of your paycheck - thus meaning Herman Cain wants to abolish Social Security? If he does not mean that, how is Social Security going to be collected if it is not out of your paycheck?

These are a couple of things seemingly glossed over that may make a lot of difference in who you want to vote for.

Already figured out the difference for our household. Would drop our taxes owed in half!!! That is huge! and it is without the deductions on Schedule A! We can take that dough and invest it...Mr. Katz is chomping at the bit for that opportunity. Then won't have to depend on SS, and hopefully younger generations follow suit. What is left of SS should be put in lock box, for real this time, to be invested and grow so that those already dependent on SS will be able to continue to collect.