But with Cain’s plan they would have to pay 9% tax on their SS
“•Business Flat Tax – 9% ◦Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders. ◦Empowerment Zones will offer additional deductions for payroll employed in the zone. •Individual Flat Tax – 9%. ◦Gross income less charitable deductions. ◦Empowerment Zones will offer additional deductions for those living and/or working in the zone. •National Sales Tax – 9%. ◦This gets the Fair Tax off the sidelines and into the game.” http://www.hermancain.com/999plan Notice where it states indiv. income flat 9% tax on gross income with only charitable donations as deductible. That is where I got it, I read it off his website. I don’t see anything else on there that would exclude taxes on SS income.
“•Business Flat Tax – 9% ◦Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders. ◦Empowerment Zones will offer additional deductions for payroll employed in the zone. •Individual Flat Tax – 9%. ◦Gross income less charitable deductions. ◦Empowerment Zones will offer additional deductions for those living and/or working in the zone. •National Sales Tax – 9%. ◦This gets the Fair Tax off the sidelines and into the game.” http://www.hermancain.com/999plan Notice where it states indiv. income flat 9% tax on gross income with only charitable donations as deductible. That is where I got it, I read it off his website. I don’t see anything else on there that would exclude taxes on SS income.