9-9-9
I didn't know our former Governor had a sense of humor. I saw Governor Hunstsman quipped that he thought that Herman Cain's tax plan was the price of a pizza. Funny. Very funny.
The tax plan, though, isn't. At first glance, I thought it would be a good idea. Personally, I think this game we play every year with taxes is a joke and a flat tax is a good idea. You make X, you pay Y.
In a nutshell, corporate tax rates go from over 20% to 9%. Everyone's tax rate would go down to 9%--and I'll get back to this in a minute, because it's important. And, we would all pay a 9% sales tax. I had a pay statement on my computer so I did a little math. I'm assuming social security and medicare taxes would remain unchanged, so here's the nuts and bolts of what the 9-9-9 plan would do for me.
I would have had $95 less withheld from my paycheck, in round numbers. That's $2600 a year I wouldn't be paying. To pay that in sales taxes, I'd have to spend about $1100 a every two weeks. I looked at what I received the last two times from the Federal Government in an income tax refund, and it was right about $2300, so my income taxes would go down about $300 per year. If I spend $3,300 a year, then that would gobble up that $300 in savings. If I spend $250 a month just on groceries, which isn't hard to do, there's $3,000. If I spent the other $300 anywhere else, I just lost my tax cut.
Under this plan, my income taxes drop, but I wind up paying more in taxes. And so would most of the people reading my blog.
There's another plan I heard tonight: the Zero plan. Zero taxes on corporations repatriating funds to this country that they sent offshore. Zero taxes on manufacturing companies. Zero Federal Regulation on manufacturing. Rick Santorum, if he really believes this and not only should he not be President of this great country, he should be deported to work six months in a sweatshop someplace. There's a reason we have regulations on manufacturers and it stems from when we DIDN'T. That's why we have unions, too.
It's to prevent what happened the first time from happening again. It's called history. Crack a book.
Here's my plan: Go back to the Clinton era tax rates. It's honestly the last time things were actually working in this country and it seems to me we did pretty well at the end of that time.
Please, please, would someone who knows what the $#&! they're doing start running for every office in this country? I'm not the guy, my life is too messed up, but there has to be someone besides Steve Jobs (RIP) who I saw on a facebook post was credited with being the last man in this country who actually knew what the $#^& he was doing!
And I'm going to say this again.... we're the people. If we're stupid enough to send the people back to Washington that caused this mess, then we get every single thing we deserve. I wish every incumbent in this country had to stand a primary election against someone, anyone, with a fresh idea.
But then I still believe in Santa Claus, too.
Blessings,
Coop
The tax plan, though, isn't. At first glance, I thought it would be a good idea. Personally, I think this game we play every year with taxes is a joke and a flat tax is a good idea. You make X, you pay Y.
In a nutshell, corporate tax rates go from over 20% to 9%. Everyone's tax rate would go down to 9%--and I'll get back to this in a minute, because it's important. And, we would all pay a 9% sales tax. I had a pay statement on my computer so I did a little math. I'm assuming social security and medicare taxes would remain unchanged, so here's the nuts and bolts of what the 9-9-9 plan would do for me.
I would have had $95 less withheld from my paycheck, in round numbers. That's $2600 a year I wouldn't be paying. To pay that in sales taxes, I'd have to spend about $1100 a every two weeks. I looked at what I received the last two times from the Federal Government in an income tax refund, and it was right about $2300, so my income taxes would go down about $300 per year. If I spend $3,300 a year, then that would gobble up that $300 in savings. If I spend $250 a month just on groceries, which isn't hard to do, there's $3,000. If I spent the other $300 anywhere else, I just lost my tax cut.
Under this plan, my income taxes drop, but I wind up paying more in taxes. And so would most of the people reading my blog.
There's another plan I heard tonight: the Zero plan. Zero taxes on corporations repatriating funds to this country that they sent offshore. Zero taxes on manufacturing companies. Zero Federal Regulation on manufacturing. Rick Santorum, if he really believes this and not only should he not be President of this great country, he should be deported to work six months in a sweatshop someplace. There's a reason we have regulations on manufacturers and it stems from when we DIDN'T. That's why we have unions, too.
It's to prevent what happened the first time from happening again. It's called history. Crack a book.
Here's my plan: Go back to the Clinton era tax rates. It's honestly the last time things were actually working in this country and it seems to me we did pretty well at the end of that time.
Please, please, would someone who knows what the $#&! they're doing start running for every office in this country? I'm not the guy, my life is too messed up, but there has to be someone besides Steve Jobs (RIP) who I saw on a facebook post was credited with being the last man in this country who actually knew what the $#^& he was doing!
And I'm going to say this again.... we're the people. If we're stupid enough to send the people back to Washington that caused this mess, then we get every single thing we deserve. I wish every incumbent in this country had to stand a primary election against someone, anyone, with a fresh idea.
But then I still believe in Santa Claus, too.
Blessings,
Coop
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