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To: rarestia

Corporations might come back but it will kill the small business owners. My husband was self employed and I went back and looked at some of the returns and in the year 2006 under the Cain plan we would have paid 4750.00 more in taxes because of the deductions taken away and in small business it is reported on your personal income taxes. So it will kill small businesses and they employ a lot of people


94 posted on 10/10/2011 9:10:24 AM PDT by thePing
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To: thePing
paid 4750.00 more in taxes

No it would not because you would not be paying your current corp tax rate plus your FICA/medicare contributions under 9-9-9.

9-9-9 doesn't add to your existing tax burden. You have to figure out how much less you would pay in other Fed taxes not just add it to your existing taxes

98 posted on 10/10/2011 9:16:40 AM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: thePing
I went back and looked at some of the returns and in the year 2006 under the Cain plan we would have paid 4750.00 more in taxes

There's absolutely no doubt that 9-9-9 is better for small businesses than 35-35-0. You probably need to check your numbers and/or publish them here.

130 posted on 10/10/2011 10:27:19 AM PDT by palmer (Before reading this post, please send me $2.50)
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