What many people overlook regarding his 9-9-9 plan - it’s a BIG WIN for the self-employed. Those who create most of the new jobs - small businesses, self-employed people.
Right now, they pay 15.3% for SS/FICA. And then they pay income tax on top of that - most pay at least 15% income tax. Meaning the prime driver of new net jobs (about 90% of all new net jobs), small businesses and entrepreneurial startups, will have a lower net tax rate.
This is a BIG WIN for our economy.
Are you sure?
What can't the 9-9-9 plan become a 16-16-16 plan within 5 years?
The Income Tax was instituted in 1913 with a top rate of 7.8%; by 1918, the top rate was already 77%.
Be careful what you wish for.