Wednesday, October 12, 2011

Is Michelle Bachmann right? 999 the devil is in the details.


No Payroll deductions? What about Social Security, Medicare, and Disability? Unemployment Insurance?

Something about this plan doesn't sound right. I switched from MSNBC, to Fox, to CNN... and the consensus is that there won't be enough revenue to cover spending. Doesn't this mean MORE deficits?

And, While it is not my situation, I'm part of the population that pays federal taxes, what about a family that is minimum wage earners? Their taxes effectively double; if not more. I don't want my fellow Americans to live in squalor. I do not want to be a part of a society that crushes the poorest of us for the benefit of the wealthiest. That's just sad and cold hearted.

At $10/hr for two adults and a child, we'll have a family living on $40K/year. While they can survive with the current situation, it's not lavish in any sense of the word. 9% off the top? $3600. Rent? 800? That's another $9600... So that leaves our couple with $26800. That $26K is going to be further reduced by a national sales tax... if they spend $24K throughout the year... they will spend $26K after the 9% national sales tax. How much do you spend each month? How does this person save for their future? They don't, they will be destitute in their golden years. They will not be able to ever retire. They will work until death... and like it? I don't think so.

For once Michelle Bachmann has said something cogent. 999 the devil is in the details. This will be a catastrophe for many Americans. I think we can do better. I am even willing to pay more in taxes to see our country be better off.