That’s right folks. The current Tea Party favorite is proposing a national tax on tea—and everything else you buy! You can’t make this stuff up!
Amazing, isn't it. The "Taxed Enough Already" people are throwing their support behind the guy who will pretty much increase taxes for nearly everyone in the country. Point this out though and you're a "Perrybot".
I don't know whether to laugh or cry. Sigh...
Even a lower middle income family is better off on the 9-9-9 plan.
Here is an example (all figures per year)
Gross paycheck =$40,000
Under current system:
Federal tax $2000
Payroll tax = $6000
Mortgage = $13,000
Car payment = $3500
Savings & contributions to retirement plans = $2000
Total tax paid = $8000
Under 999 plan:
Federal tax = $3600 (9% of 40,000)
Sales tax on (40,000-3600-13,000-3500-2000) x 9% = $1611
Total tax paid = 3600+1611 = $5211
Savings under 9-9-9 plan = 8000-5211 = $2779
which is additional purchasing power or to be used to save
for future purchases.
Cain has loads of rhetoric, just no record to judge him on.
Nothing. Nada. Zippo. ZERO!
To some folks, Romney sounds like a conservative too.
But clearly you’re smarter than the guy with the degree in mathematics and minor in chemistry who’s saved more than one failing business, so by all means we should trust your judgment regarding the impact of his plan.