Posted on 10/16/2011 2:32:45 AM PDT by Cincinatus' Wife
Since the plan is revenue neutral, for every “winner” (say, corporate tax is reduced) there *has* to be a “loser”
A smart tax plan that puts the incentives in the right place can allow the economy to grow, so there is more money. People get wealthier, so they are better off after taxes under one plan than another.
Reagan drastically cut tax rates, and revenue went up.
We could increase income tax rates to 90%, and the amount of revenue generated would probably not go up, but people would be a LOT worse off.
Mostly true - but not all consumption will be taxed. That's minor to me though. The reason it will "sell" as you put it is that even though the money is being taxed again, individuals can still buy more with their dollars. Hell, even if it were close - or even worse off - I'd think a lot of people would be willing to take it provided the income tax code were erased and the 16th amendment were in the process of repeal.
But, like the transitional inventory credit that was written into the nrst "Fair Tax", there will likely be an analogous "transitional savings credit" to offset already income-taxed money. jmho
So you’re endorsing the current tax code?
Would you rather get your 401k like it is or would you rather have each dollar buy 10% more with 9% fewer dollars and have the income tax code erased?
Is everyone who says you're just pimping for Perry right? You are ignoring things and spouting half truths.
Making a point is one thing - calling another FReeper names is unbecoming!
And you have done it more than once on these threads.
>> You have missed the whole point.
No, I get the point the Cain campaign is *trying* to make.
I just can’t make the dots connect.
The supposed benefit relies too much on “beliefs” and “feelings” about how things will shake out, and too little on the mathematics and economics of it.
But the downside — giving the Federal monster another tax stream to play with — scares hell out of me. And that fear has a sound basis in a hundred years of actual history.
No, a flat tax with few deductions. No national sales tax!
It will be tough going finding much of anything to tax, if as Gov. Perry mentioned in the debate (this is all nibbling around the edges), we don’t get people working again.
The flat tax folks have had their chance, its not gonna happen.
Why is a Perry supporter afraid to confront the issues honestly? Cain supporters aren't.
There are no plans whatsoever on Rick Perry's site.
I don't think Rick Perry is capable of understanding economics.
He has been an utter imbecile on the debates. It was embarrassing during the last debate -- the one where everyone was supposed to talk about their economic plans. When they asked Perry if he had any details about his plans, he said -- like a bad student who didn't get his term paper done on time -- no, but promised he would turn one in soon. Then he all he came up with was a vague energy plan with no details, that every other candidate had already espoused.
Rick Perry is an imbecile. I don't think he's capable of thinking on his own.
His high-priced handlers and consultants won't let him speak unless they craft his words and he thoroughly rehearses them. It's weird that they don't let him go on any cable television political shows to speak. They think he's too stupid to answer questions on his own.
Rick Perry is nothing but a vacuous Ken-doll.
Rick Perry is an imbecile. I don’t think he’s capable of thinking on his own.
“You will have to pay federal taxes on your Social Security benefits if you file a federal tax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.”
True, but if you have no taxable income you wont have to pay taxes on SS income. 999 would zap people again on everything and zap them again when they spend their already taxed savings.
I agree. It is going to take some fight to get gov’t out of the way, so that we can get some of these jobs back.
I would rather the political capital be spent in that area first (getting gov’t out of the way). After that, I’m with Paul Ryan—I’m more a flat tax kinda gal.
Once the gov’t is cut down to size some, regulations removed—then I would love to see tax debate and reform.
http://www.heritage.org/research/reports/2005/07/a-brief-guide-to-the-flat-tax
“The flat tax folks have had their chance, its not gonna happen.”
Ditto for the fairy taxers and the 999ers.
Already have, you just ignore it.
Just as you ignore all points made that are not in Perry's favor.
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