Review your numbers again
Upon review of T.J. Green’s letter from October 26, 2011, I would like to make the following observations using his numbers as factual data.
He claims families making under $10,000 per year pay 20 percent in taxes. He claims families making over $450,000 per year pay 20 percent in taxes. He also claims either Herman Cain’s 9-9-9 or Rick Perry’s 14 percent-20 percent (depending on the source) flat tax plan would lower taxes for the rich and raise taxes for the poor.
Let’s make a chart.
Now Cain Perry
$10,000/year Over 20% 9% 14-20%
$450,000/ year Less 9% 9% 14-20%
I do not know what exact percentage of flat tax is required to balance our budget, but I can tell you that neither Cain’s or Perry’s plan according to T.J.’s numbers would raise taxes on the poor or lower taxes for the rich as he asserts.
Are there variables? Sure. It is my opinion that there is no such thing as a corporate tax. Go ahead— tax them more and the price of goods rises accordingly. Sales tax? Sure. But the fact is the family making more money spends more money on nearly all purchases including food and clothing ($2.25/lb. hamburger vs. $7/lb. steak, $100 Reeboks vs. $25 Wal-Mart shoes or $50,000 new car vs. $2,500 used car)
Please T.J., review your numbers. You may change your opinion.
Wayne C. Davis