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To: JDW11235

Just wondered if you have seen this article?

http://politicalticker.blogs.cnn.com/2011/10/09/cain-poor-wont-pay-more-under-9-9-9/


262 posted on 10/09/2011 2:02:37 PM PDT by Netizen (Path to citizenship = Scamnesty. If you give it away, more will come. Who's pilfering your wallet?)
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To: Netizen

He assumes companies will give everyone a 15.3% pay increase, which I don’t believe would happen. Right now only 5.65% of your gross pay goes to Social Security and Medicare taxes. The other 7.65% is what the company pays, but there is no requirement that the company must give you that 7.65%.


264 posted on 10/09/2011 2:08:16 PM PDT by DTxAg (The Presidency is not an entry-level position.)
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To: Netizen
“Relative to regression, no, it is not,” Cain said. “If you take a family of four at $50,000, and $25,000, start with the fact that if they're getting a paycheck, they pay 15.3% in the payroll tax. That 15.3 becomes 9 percent. That's a 6 percentage point differential.”

That's wrong right off the bat. The overwhelming majority of people don't work for themselves. They pay a FICA that is currently 5.65%. That's less than 9% even before you factor in the 9% sales tax.

Cain explained that the proposed 9% national sales tax would only be applied to new goods that change hands and not to the sale of used goods

His own website makes no such claim. It speaks of a 9% sales tax, period. No exclusion for used goods or food or services or housing or anything. So virtually anything you buy goes up 9%.

267 posted on 10/09/2011 2:13:34 PM PDT by SoJoCo
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