PatGreen wrote:
I'm almost sure the 9-9-9 is 9% capital gains tax too.
we also need to remember who REALLY pays taxes. A lot of people/families get a lot back in April. single young adults get the least back, as far as a percentage return. we don't have kids, we claim 0 or 1, don't qualify for EIC, student loans don't get to be written off, and unless you're still in college, we don't really qualify for anything. so the government gets to take 15-20% of my income. then family a with two kids and enough salary between the parents to be doing okay get everything back and maybe some more, so basically the feds just took a 0% interest loan out and counted it as income.
9-9-9 Plan: Summary
Removes all payroll taxes and unites all tax payers
Provides the least incentive to evade taxes and the fewest opportunities to do so
Lifts a $430 billion dead-weight burden on the economy due to compliance, enforcement, collection, etc…
Is fair, simple, efficient, neutral, and transparent
Ends nearly all deductions and special interest favors
Features zero tax on capital gains and repatriated profitsExports leave our shores without the Business Tax or the Sales Tax embedded in their cost, making them world class competitive. Imports are subject to the same taxation as domestically produced goods, leveling the playing field.
Lowest marginal rates on production
Kills the Death Tax
Allows immediate expensing of business investments
Eliminates double taxation of dividends
Increases capital formation which aids capital availability for small businesses
Increased capital per worker drives productivity and wage growth
Features a platform to launch properly structured Empowerment Zones to renew our inner cities
The pro-growth, pro-job, pro-export economic policies of the 9-9-9 PLAN equals a strong dollar policy
Source:
http://www.hermancain.com/999plan