Steve Forbes Endorses Rick Perry's Flat Tax Plan (Says it's better than Cain's 9-9-9 plan)

Business Insider ^ | 10/23/2011 | Zeke Miller

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Thanks I will check it out.

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RE: 9-9-9 you pay 9% ((but there is something in the plan about poverty level breaks, just not detailed)
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Some details I’ve garnered thus far. For income at or below poverty levels, you pay NO TAXES ( it becomes 9-0-9).

If your income is say, $30,000 and the poverty level is $20,000, you only pay taxes on $10,000, which is 9%.

Also, we should note that PAYROLL taxes are NOT DEDUCTED under Cain’s plan.

So, a person earning $30,000 today will actually be taxed on close to $32,000, not $30,000 ( payroll taxes being 6.5% ).

Which means for a person making $30,000 today, his taxes under Cain will be : $32,000 - $20,000 (poverty exemption ) = $12,000 X 9% = $1080.00

This contrast with a person making $30,000 who would pay ZERO TAXES ( in effect ) but is really paying close to $2,000 in taxes without him always being aware of it because it has already been taken away already via payroll taxes.