Just a commentary here…
Herman Cain has unveiled a rehash of Perot’s flat tax plan, entitled 9-9-9 that has a bunch of rich people and big ass businesses REALLY excited… and they should be. I mean, right now, a family with $10,000,000 in income is taxed around 37%. Under Mr. Cain’s plan, their tax burden would plummet.
Of course, Mr. Cain apparently can’t add. Take away that tax income, and the whole freaking government collapses. Nor can he forsee the obvious: a ton of tax lawyers out of work (I’m not sure THAT part is bad, but… in this job market, do you really wanna pull a Snyder and kill an industry? Hrm…)
So I paraphrase unto the wise words of Uncle Ben Parker: With great cash, comes great responsibility.
If you make $10,000,000 a year, you make that money on your own hard work, and on the hard work of those working for you. The people who buy your products or services. And guess what? Some of those people make $2.80 an hour plus tips…
So, here’s MY tax plan suggestion, which takes into account REALITY (i.e. most people don’t make 10,000,000 bucks)
Up to $100,000 year, your tax is declared per 10,000.
So, $10,000 to $19,999 = %1.
20,000 to 29,999 = 2%
30,000 to 39,999 = 3%
40,000 to 49,999 = 4%
50,000 to 59,999 = 5%
60,000 to 69,999 = 6%
70,000 TO 79,999 = 7%
80,000 TO 89,999 = 8%
90,000 TO 99,999 = 9%
Once you reach $100,000 then it goes up 1% every $100,000.
$100,000 to 199,999 = 10%
200,000 to 299,999 – 11%
The max tax occurs at 40% of income, which occurs only for persons over $400,000 year income.
Now, I’m not a mathematician, or tax genius.. so who knows if this would work, but I’m pretty damn sure that with all loop holes removed this would be essentially equitable for all involved, and keep the government funded BY the people FOR the people.
Corporations? you pay the same thing. Your small business made only $15,000 PROFIT (that means above and beyond paying your workforce, ya know)? You’re only paying %1. Your business made $450,000? 40%. The argument that this would cost jobs? Hogwash. Shit, it might cause raises just to eliminate paying taxes… but that still works to some extent, because you’re putting money into the pockets of people who will spend it, rather than rich people who are never happy with how much money they have, and never willing to spend it on actual job creation because they buy bullshit like a faux tea party, or Herman Cain’s inability to add, subtract or multiply.
Cain’s 9 – 9 – 9 means 9% income tax, 9% national sales tax and 9% corporate income tax. My plan above refers to income taxes, personal and corporate… and doesn’t make everything else more expensive. 9% sales tax, on top of state sales taxes? Great, just what we need: not only gas that costs $12/gal but a Snicker’s bar that costs $14. So let’s keep that money in people’s hands, so they can spend it on goods, which creates more jobs.
What do I know? I’m just some guy, ya know?