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To: New Jersey Realist
First, go here and see what it's about. Next, do the math.

The 9-9-9 stands for 9% income tax on earners, businesses and corporations, and a 9% sales tax. There would not be a payroll tax any longer, but that doesn't mean Social Security or Medicare wouldn't be taken out. And the fact it broadens the base, it means more people are paying taxes making it more fair to everyone. The ultimate goal is to morph it into a fair tax. Instead of some segment of the population being hurt, it means all America will be treated the same. I don't see that as a down side.

6 posted on 10/13/2011 11:15:40 AM PDT by bcsco (A vote for Cain will cure the Pain!)
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To: bcsco

Does this tax unearned income? Rents, royalties, interest on loans and bonds?

How does it define “income”? A corporation offsets gross income by the costs of producing that income. The result is corporate net income. What about an individual? And individual ALSO has costs of producing an income. It as always seemed incomprehensible to me that individuals are taxed on GROSS income, whereas corporations are taxed on NET income, and NET income for most corporations over a minimal size and complexity is a true accounting confection, highly arbitrary.


16 posted on 10/13/2011 11:35:17 AM PDT by bvw
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