Is that with deductions or no?
Posted By: More info please on 2008-09-20
In Reply to: 10% across-the-board. Rich or poor. Big company or small. - : )
10% of what? gross or net income? Take away all deductions, like personal exemptions, mortgage interest, business deductions, home office deductions. Would it be 10% of profit that a company makes or all revenue brought in?
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Raise the cap for SS deductions.
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10%. No deductions. Wouldn't need 'em if
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GET REAL if you make over 250 thou AFTER DEDUCTIONS you are RICH! NM
nnnoo message
I do not think he meant he would quit taking his legal deductions -
I think he meant he did not mind paying 3% more on what was left, which is what is being proposed.
I don't expect anyone to quit taking their legal deductions and I don't see how his taking those deductions can be construed as his not having to pay more taxes. The amount you owe comes off the adjusted amount and that will still be the same after he itemizes - just the percentage paid against that amount will change.
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