“...imagine what will happen to it if it’s reduced to 9%.”
You understand that the base of the Business Flat Tax is not the same as the base for FICA, right ? Currently, the 12.4% that is SS only applies to the first $106K of wages ($5T base) while the other 2.9% of FICA applies to all wages ($6.3T base). The 9% applies to effectively all wages, plus business inputs from foreign businesses, plus profits — because payroll and foreign purchases are not deductible from a business’ revenue when determining “income”.
So instead of 12.4% of $5T in limited wages + 2.9% of $6.3T in all wages, there is 9% applied to $10T [wages ($6.3T)+imports($2T)+profits($1.7T)]. $900B from the 9% Business Flat Tax vs. $825B from the 15.3% FICA.
In this way, the 9% Business Flat Tax completely replaces the FICA revenues from BOTH employer and employee.
The 9% Sales tax on retail goods completely replaces the Corporate Income Tax revenues.
The 9% Flat Individual Income Tax applied to the full $12.5T income from all sources, minus capital gains income ($600B), minus charitable giving ($50B) leaves $11.85T taxable and $1.06T revenue. This almost exactly replaces the Progressive Individual Income Tax revenues.
I can’t vote for Cain unless there is an exception to already taxed savings. I cant pay another 9% on my already taxed savings. People need to take that into account.
I was a Palin supporter and payer from jump street 3 years ago and thought she was cool as grits.
Lived thru her missteps and reassured over and over and over by some decent people here..and some serious jackasses..that she would run for sure and so forth...and I believed it too till end of summer when my doubt radar went off but I kept faith...hoping and then maybe seeing a possibility with Bachmann or Perry..and watched jackasses beat up Michelle on behalf of a non candidate and watched Perry beat himself up with no one’s help
and then watch this sad spectacle now of desperation to stop Romney...
Cain?...I dunno..sometimes good...sometimes great...sometimes flaky..is this the best we got
Newt...well..I would love to see someone truly smart take smartypants teleprompter reader to the woodshed in debates
but..still after all the BS that went on here...there is no doubt to me that even after the occasional poor judgment of her’s and self promotion and all the damned waffling that Sarah Palin was our best shot for a social conservative that had “it”...the “it” being what we need to take our nation back.
and what makes it all the more sad is that the scenario for her to have won is about as good in her favor that it could have ever gotten...far better than any of us imagined after the 2008 defeat
I wish it was really just more “it's genius man...I swear just watch...it's Sun Tzu..etc”....lol..just remembering all that crap that got spouted here...but dammit... I wish they had been right all along and she did or had or would have run
cause what we have to replace her ...ain't it..it just ain't
and it sucks
but you Palin Partisan bolt loving wolf pack bullies...can still kiss my ass
now it takes a real fan to go above all that garbage I witnessed here and still profess a longing for Sarah Palin ...basically in spite of how disgusting the behavior by some here..I still immensely miss what I think Palin could have done and to realize how painful a loss it us for folks that think like me...most older white Christian southerners in my case...to realize it will likely never happen again either
it's depressing to see such an opportunity wasted when the stakes are so high..our GOP leadership is actually very very thing and none are perfect...Jim DeMint might be the only one I could see topping the current bunch easily
I notice some of the Palin bullies have now clustered their club around Cain...lovely..