Phase 1 - 9-9-9
Current circumstances call for bolder action.
The Phase 1 Enhanced Plan incorporates the features of Phase One and gets us a step closer to Phase two.
I call on the Super Committee to pass the Phase 1 Enhanced Plan along with their spending cut package.
The Phase 1 Enhanced Plan unites Flat Tax supporters with Fair tax supporters.
Achieves the broadest possible tax base along with the lowest possible rate of 9%.
It ends the Payroll Tax completely a permanent holiday!
Zero capital gains tax
Ends the Death Tax.
Eliminates double taxation of dividends
Business Flat Tax 9%
◦Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders.
◦Empowerment Zones will offer additional deductions for payroll employed in the zone.
Individual Flat Tax 9%.
◦Gross income less charitable deductions.
◦Empowerment Zones will offer additional deductions for those living and/or working in the zone.
National Sales Tax 9%.
◦This gets the Fair Tax off the sidelines and into the game.
Individual flat tax on what? earnings? Income?