To: Hugin
Your 23-33%% combined taxes is replaced by 18 percent, 9 in income, 9 in sales.
It’s not that hard to figure out.
1,837 posted on
10/18/2011 8:17:45 PM PDT by
Rodney Dangerfield
(To make a Conservative angry, tell him a lie. To make a Liberal angry, tell him the truth.)
To: Rodney Dangerfield; Hugin
Your 23-33%% combined taxes is replaced by 18 percent, 9 in income, 9 in sales.Assuming you spend every penny you make. Is that what you do? You're also assuming retail prices won't go down after corporate taxes are slashed by 72%.
1,895 posted on
10/18/2011 8:46:32 PM PDT by
FreeKeys
("Countries that bankrupt themselves aren't around very long, & we're getting close." -Tom McClintock)
To: Rodney Dangerfield
One thing wrong with Cain's numbers is he claims individuals pay 18% payroll taxes. But in fact half is paid for by employers. Cain assumes that employers will just give the savings to the employees. But why should an employer who is paying as little as the law and/or market will allow give those savings to the employee? They won't. They will simply add it to their bottom line.
I'm going to be charitable and assume that Cain is just naively assuming that they will pass it on, and not intentionally misrepresenting his plan. But when he says low income workers will save 18% from no payroll tax, it just isn't true.
1,908 posted on
10/18/2011 8:52:51 PM PDT by
Hugin
("A man'll usually tell you his bad intentions if you listen and let yourself hear it"--- Open Range)
To: Rodney Dangerfield
Basic math obviously confuses some people
1,977 posted on
10/18/2011 9:41:57 PM PDT by
reaganaut
(Romney IS Obama - just 'white and delightsome' 2 Nephi 30:6)
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