How accurate are all the other claims by past and present candidates and elected officials? I don't even pretend to know where they come up with those figures, all I know is I pay my payroll tax on my pension, my property taxes, my state taxes, my state sales taxes, my gasoline taxes......etc, etc, etc...........
Personally, I can't see how I can benefit from a 9-9-9 tax plan............
9% federal tax added to my state 6% equals 15% of all my expenditures after my income tax.........
I'm no longer in a saving mode, what I receive from my pension goes to pay all my expenditures and an additional 9% on those payments will definitely hurt........
Do you pay any income tax now? Do you collect social security or will you in the future? Do you have any children or younger friends who need jobs presently or in the future? Do you think if the economy gets worse you will be better off? If it gets better?
Pensions are exempt, from what I have seen. That would be 0% Federal Income Tax. We’re not sure yet on what would or would not be taxable on the Sales Tax. I suspect some of the reports of exemptions for retirement might be true, but there is not enough information to know.
Since there will be no more corporate tax, the cost of goods will be much lower, even with the 9% Fed Sales Tax. And that is only on NEW purchases, not expenditures.
Retirees will do well with this plan.