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Herman Cain 9-9-9 disaster plan
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<blockquote data-quote="UnconTROLLed" data-source="post: 890227" data-attributes="member: 18708"><p>As it is, the poor pay 7.35% in payroll taxes, a 1.35% spread on 9% sales tax. If the flat 9% income tax is also involved, that would be a 10.35% increase in taxes for almost half of the country <em>alone</em></p><p></p><p><a href="http://www.levyinstitute.org/pubs/wp_589.pdf" target="_blank">http://www.levyinstitute.org/pubs/wp_589.pdf</a></p><p></p><p>Check out pages 44 and 48 on the above link, if interested...disturbing information and this is <strong>pre-2007</strong> data.</p><p></p><p>Inflation adjusted percentage increase in after-tax household income for the top 1% and the four quintiles, between 1979 and 2005 (gains by top 1% are reflected by bottom bar; bottom quintile by top bar).[23]</p><p></p><p></p><p>Also under the 9-9-9 plan, anyone withdrawing from a Roth IRA would be taxed twice on that money. <img src="/community/styles/default/xenforo/smilies/FeltTip/happy-very.png" class="smilie" loading="lazy" alt=":happy-very:" title="Happy Very :happy-very:" data-shortname=":happy-very:" /></p></blockquote><p></p>
[QUOTE="UnconTROLLed, post: 890227, member: 18708"] As it is, the poor pay 7.35% in payroll taxes, a 1.35% spread on 9% sales tax. If the flat 9% income tax is also involved, that would be a 10.35% increase in taxes for almost half of the country [I]alone[/I] [url]http://www.levyinstitute.org/pubs/wp_589.pdf[/url] Check out pages 44 and 48 on the above link, if interested...disturbing information and this is [B]pre-2007[/B] data. Inflation adjusted percentage increase in after-tax household income for the top 1% and the four quintiles, between 1979 and 2005 (gains by top 1% are reflected by bottom bar; bottom quintile by top bar).[23] Also under the 9-9-9 plan, anyone withdrawing from a Roth IRA would be taxed twice on that money. :happy-very: [/QUOTE]
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