Yes, the actual rate of the employee share of the payroll tax is 7.5%. It is a little lower because of a “tax holiday,” I think.
Of course, that rate could go up — gasp! — even if a plan such as 999 weren’t enacted. And since, under the present system, only the about 50% of us who are paying taxes would be affected by the tax hike, once again we’d have little political power to resist the assault of the parasites on our earnings.
But the holiday is ongoing. And Obama is trying to extend it, so using the 5.65% figure is accurate. Far more accurate than the 15% Cain is claiming.
And since, under the present system, only the about 50% of us who are paying taxes would be affected by the tax hike, once again we’d have little political power to resist the assault of the parasites on our earnings.
My problem isn't with the rates in the 9-9-9 plan per se. My problem is that I'd really like to win this upcoming election and spare this country 4 more years of Obama. Nominating a man whose central plan is raising the taxes on over half the population is not the way to do it. People aren't stupid, even the poor and middle-income. Why should they vote for someone who is going to cost them money?