I’ve been saying this from day one, that the 47% who pay no fed income tax would never give up that status. So much for, “skin in the game”.
I’ll still vote for Cain.
They still have more skin in the game with the NRST. That’s one of the major advantages of going that route.
Also, all 47% of those presently not paying taxes are not at or below the poverty level.
Our present tax code doesn’t count welfare benefits, including food stamps, as taxable income! So a person can be receiving several thousand dollars a year and it not be subject to tax.
Also welfare benefits are not counted in determining who is “below the poverty level.” IOW, you can be getting thousands of dollars a year in welfare, but still be counted by the government as “below the poverty level.”
All that said, if instead of exempting that from tax, everyone were given a standard deduction of say $20K (emphasis: EVERYONE), those who truly have no income above the standard deduction would pay 0% income tax.
Other people, essentially, would see their welfare benefits reduced by 9%. So 999 would actually also accomplish a bit of entitlement reform as well.