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To: jgge
"Cain the TALKER 9-9-9 tax plan they would be paying 9% tax on their income and without any allowed deduction"

For those individuals who pay 0 in taxes, they still don't recoup their FICA and SS contributions, by eliminating both and replacing it with a 9% income tax they would be saving 6% off the bat in FICA alone.

109 posted on 10/18/2011 11:08:04 AM PDT by montyspython (This thread needs more cowbell)
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To: montyspython

Absolutely not, the tax credit they get form the minimum earned tax would make up for all their FICA payment.


112 posted on 10/18/2011 11:37:10 AM PDT by jgge
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To: montyspython; Beagle8U

Untrue.

15% is both the employer side and employee side. Only the 7.5 employee side is a guaranteed savings to the employee. The employee half is presumed behavior.

By the way I agree with Beagle8u’s comments and I don’t understand why you attacked him/her. For retired folks who will not get the benefit of the reduced Fed Income Tax, it may very well be a increase because of the Fed Sales Tax. In that sense it is very redistributive to retirees with savings.


144 posted on 10/20/2011 9:41:47 AM PDT by dervish (female candidates: the last frontier)
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