Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: goldworldnet who wrote (450185)	10/11/2011 4:11:16 AM
From: ManyMoose	1 Recommendation Read Replies (1) \| Respond to of 793917

I was worried about that. After deductions, my effective tax rate is about 7.5%. It wouldn't kill me to pay nine, but I don't really want to. I'm sure people at or below the poverty level couldn't pay 9%. It sounds like Cain hasn't fleshed his idea out, but that would happen if he gets a bill into congress. The trouble is, instead of fleshing out they would fatten it up. As stated, the 999 plan would increase taxes for most retirees without adding a retirement deduction, but such a deduction would have to be added for the 999 plan to have any hope of getting through Congress.