[DTxAg]

Right above your post I listed some of the people who pay more under Cain's plan.

I can add one more group to the list: seniors who DO have other income besides Social Security.

Consider a couple getting $25,000/year in SS benefits and earning another $25,000 in income. According to a calculator I found, they would pay something like $850 in taxes. Under Cain's plan, they would pay $2,250 in income taxes on the $25,000 wages plus be subject to a 9% national sales tax.

The 9-9-9 plan makes a good soundbite, just don't look at the details.

[SoJoCo]

Consider a couple getting $25,000/year in SS benefits and earning another $25,000 in income. According to a calculator I found, they would pay something like $850 in taxes. Under Cain's plan, they would pay $2,250 in income taxes on the $25,000 wages plus be subject to a 9% national sales tax.

Cain's plan allows for charitable deductions only. If they are getting $25K from Social Security and $25K from other income then won't they get taxed on the whole amount? That would make their taxes $4500 plus the 9% on everything they buy.

[Pan_Yan]

Have you taken into account the 15% FICA taxes that will no longer be taken out of their salary? How about the effect on prices when corporate tax rates drop from 35% to 9%?

Normally FReepers rage against an unfair progressive tax code that punishes success and rewards those who don't produce anything or haven't planned for their own retirement. Then when someone proposes a plan that would actually level the playing field, stop rewarding failure and make everyone a paying participant in our government they get trashed.

Sad.

[Fred]

Regarding seniors on paying more taxes...

Folks you are all overlooking the tax that will go to ZERO!!!!

IT IS CAP GAINS!!! IT GOES TO ZERO!!!

Anyone with any kind of investment will welcome this, seniors are exactly that, investors.