Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
Herman Cain 9-9-9 disaster plan
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="The Other Side" data-source="post: 890209" data-attributes="member: 17969"><p>So am I to take from this that you acknowledge your percentage of the tax burden will increase? And if so, then you dont mind having your taxes raised to help pay the deficit? </p><p></p><p>As far as deductions, i dont care at all about your deductions, I just want you to acknowledge, so everyone can understand, that ALL deductions would be gone, and to say that a flat 9% tax would result in LESS taxes paid is to be dishonest.</p><p></p><p>Do the math. Lets say a person making 110K gross per year has 2 homes and three children. With deductions, the taxable portion of that 110K would be reduced to around 40K at 29%. Now, if you TAKE AWAY all the deductions, and ADD the 9% on repairs/maintenance on the homes, I would pay about 7000 dollars more in taxes under the 9-9-9 plan.</p><p></p><p>Then if you add the national sales tax on everything I buy during the year, my taxes for the year would exceed 10000 dollars.</p><p></p><p>The current tax code and sales tax spending has never exceeded 5000 dollars for me, so , all things being equal, my yearly taxes go up 5000.</p><p></p><p>How does this help me? vs. helping a billionaire whos taxes go DOWN to 9%?</p><p></p><p>A billionaire makes more money with this plan whereas I pay more. If there taxes go down, that means they have more money in the bank to earn interest on, whereas i have to pay more money out of my savings to pay the taxes I owe.</p><p></p><p>How do you reconcile this concept?</p><p></p><p>Peace.</p></blockquote><p></p>
[QUOTE="The Other Side, post: 890209, member: 17969"] So am I to take from this that you acknowledge your percentage of the tax burden will increase? And if so, then you dont mind having your taxes raised to help pay the deficit? As far as deductions, i dont care at all about your deductions, I just want you to acknowledge, so everyone can understand, that ALL deductions would be gone, and to say that a flat 9% tax would result in LESS taxes paid is to be dishonest. Do the math. Lets say a person making 110K gross per year has 2 homes and three children. With deductions, the taxable portion of that 110K would be reduced to around 40K at 29%. Now, if you TAKE AWAY all the deductions, and ADD the 9% on repairs/maintenance on the homes, I would pay about 7000 dollars more in taxes under the 9-9-9 plan. Then if you add the national sales tax on everything I buy during the year, my taxes for the year would exceed 10000 dollars. The current tax code and sales tax spending has never exceeded 5000 dollars for me, so , all things being equal, my yearly taxes go up 5000. How does this help me? vs. helping a billionaire whos taxes go DOWN to 9%? A billionaire makes more money with this plan whereas I pay more. If there taxes go down, that means they have more money in the bank to earn interest on, whereas i have to pay more money out of my savings to pay the taxes I owe. How do you reconcile this concept? Peace. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
Herman Cain 9-9-9 disaster plan
Top