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To: scooby321

The entire tax code could be written on a sticky note, EVERYONE will pay taxes according to the amount of money they earn at the rate of 12% with NO exceptions, loophole or special favors.

If you earn $15,000.00 per year your tax bill is $1,800.00

If you earn $10, 000, 000.00 your tax bill is $1,200,000.00

Cheating will result in jail time of no less than 10 years and if you own property it will be sold to pay the taxes you owe.


16 posted on 10/19/2011 9:39:38 AM PDT by chiefqc
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To: chiefqc

RE: If you earn $15,000.00 per year your tax bill is $1,800.00

The only beef I have with this calculation is it does not take into account the money already taken away from you via the payroll tax.

If your current gross income from working is $15,000, your real gross income should have been $16,125.00 because the $1125 was TAKEN away from you ( 7.5% payroll tax ).

Since Cain’s 9% income tax DOES AWAY with the payroll tax, your income for the purpose of taxation would be $16,125.00

9% of $16,125 is $1451.25.

$1451.25 - $1125.00 = $326.00 <-— This is in reality, the amount you pay in taxes under 9-9-9 compared to the current system.

Again, the $1125 is the tax that was taken from you under the current system via payroll tax, which is YOURS. It will be yours under 9-9-9 but it will be VISIBLE and TAXABLE.

Which means, you are EFFECTIVELY just paying 2% under 9-9-9 with the above scenario.


18 posted on 10/19/2011 10:05:01 AM PDT by SeekAndFind (u)
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