Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I won't bore anyone with any #'s yet but from my initial calculations, the effects of the 9-9-9 tax plan means I take home about $120 more each month in pay (on a monthly pre-tax salary of 3500 and overestimated monthly expenses of 1500.) This is assuming NONE of the savings from lower corporate taxes are passed to me and my cost of living each month increases 9% to 1635.
I don't care if the rich/poor will be paying more/less taxes than me.. all I care about is increasing my take home pay. 9-9-9 increases my take home pay and I like this part.
I don't know that much about economics but I'm worried about the economic effects of the plan.. especially if it cannot collect enough taxes to stabilize or reduce the deficit.
I think 999 is oversimplified and it will have negative effects in the long run. Herman Cain is not telling the full story, and he had trouble answering questions about the 999 recently.
I won't bore anyone with any #'s yet but from my initial calculations, the effects of the 9-9-9 tax plan means I take home about $120 more each month in pay (on a monthly pre-tax salary of 3500 and overestimated monthly expenses of 1500.) This is assuming NONE of the savings from lower corporate taxes are passed to me and my cost of living each month increases 9% to 1635.
I don't care if the rich/poor will be paying more/less taxes than me.. all I care about is increasing my take home pay. 9-9-9 increases my take home pay and I like this part.
I don't know that much about economics but I'm worried about the economic effects of the plan.. especially if it cannot collect enough taxes to stabilize or reduce the deficit.
What do you think?
And how much more will you be paying at the store for things you need to buy with his idiotic idea for a 9% sales tax on top of whatever you are already paying?
And how much more will you be paying at the store for things you need to buy with his idiotic idea for a 9% sales tax on top of whatever you are already paying?
Exactly, you can kiss that extra money goodbye since most of it will go to the sales tax.
And how much more will you be paying at the store for things you need to buy with his idiotic idea for a 9% sales tax on top of whatever you are already paying?
It's already factored in and I'd still be saving more money every month
Well then I wish you luck. I for one won't be voting for him. At this rate I am trying to consider whether moving to another state is better or just leaving the country is better...
It's already factored in and I'd still be saving more money every month
For now. Taxes go nowhere but up, and that 9% sale tax on top of your local and state taxes can be substantial. It will lead to abuse I'm sure of the states and federal government to keep giving "a little bump" to the tax rates over and over and over and before you know it, we'll all be paying 15%-20%+ sales tax on everything. Adding any substantial taxes to this extent is a recipe for disaster.
I would like to see something more along the line of 993...with a 3% national sales tax. The idea of a national sales tax is a HUGE tax revenue boost to the federal government. Also....the 9% income tax allows us to keep a LOT more money in our checks...which in turn...stimulates the economy. The more we have...the more we will spend.
The 9% Corporate tax is also something that will give companies an incentive to GROW...again increasing economic stimulus.
I say drop the sales tax to 3% and then you have something...especially kif you incorporate the plan in a FLAT TAX...zero deductions plan. I think it then becomes something we can ALL live comfortably with.
I would like to see something more along the line of 993...with a 3% national sales tax. The idea of a national sales tax is a HUGE tax revenue boost to the federal government. Also....the 9% income tax allows us to keep a LOT more money in our checks...which in turn...stimulates the economy. The more we have...the more we will spend.
The 9% Corporate tax is also something that will give companies an incentive to GROW...again increasing economic stimulus.
I say drop the sales tax to 3% and then you have something...especially kif you incorporate the plan in a FLAT TAX...zero deductions plan. I think it then becomes something we can ALL live comfortably with.
The Fair Tax works for me. I've done the numbers using the structure described in the bill sitting in the House and Senate right now. That's why I support that tax proposal. This 9-9-9 / Flat Tax is income tax nonsense.
I won't bore anyone with any #'s yet but from my initial calculations, the effects of the 9-9-9 tax plan means I take home about $120 more each month in pay (on a monthly pre-tax salary of 3500 and overestimated monthly expenses of 1500.) This is assuming NONE of the savings from lower corporate taxes are passed to me and my cost of living each month increases 9% to 1635.
I don't care if the rich/poor will be paying more/less taxes than me.. all I care about is increasing my take home pay. 9-9-9 increases my take home pay and I like this part.
I don't know that much about economics but I'm worried about the economic effects of the plan.. especially if it cannot collect enough taxes to stabilize or reduce the deficit.
What do you think?
The guy was a Fed president and thinks Alan Greenspan was a great Fed President. I need hear no more. He could be for a flat tax and it would not matter to me. He is just more of what we have now.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
