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To: OL Hickory

One question among many I have is if the corporate tax is reduced or done away, will employees get a pay raise? Don’t bet on it.


17 posted on 10/19/2011 7:49:47 PM PDT by Logical me
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To: Logical me
One question among many I have is if the corporate tax is reduced or done away, will employees get a pay raise?

Currently, you're paying a 15% payroll tax. That will go away. That's a 15% raise to you right there.

Now, sure, other aspects of the plan may eat into that gain, so you have to use one of the calculators to see how this will really work out for you. But some folks only count up the taxes that would be in place -- 9% sales, 9% income, 9% corporate. They say, "Brutal! I'll die!" It is important for people to know about the taxes that go away: Capital gains, payroll tax, progressive personal rate, high corporate rate, etc.

There are pluses and minuses, and some folks just take a quick glance at one minor bad thing and then throw up their hands and ask "What are you doing to me???"

I think the plan is brilliant.

26 posted on 10/19/2011 8:12:41 PM PDT by ClearCase_guy (I won't vote for Romney. I won't vote for Perry.)
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