Roth IRA holders will be nailed with 9-9-9.

Discussion in 'Economics' started by jackpearson, Oct 15, 2011.

  1. N54_Fan

    N54_Fan

    My current understanding of the 9.9.9 is that they represent a FLAT 9% tax of EACH of the following,...corporate, personal income, sales tax. The idea is that corporations would have a low tax and incentives to be in US. The personal income tax would be low at 9% and thus we have more money left and thus spend more money....which of coure is alos taxed at 9%. That way our consumption and purchases generate more corporate profits which starts the cycle again. This plan has NO bearing on STATE INCOME tax. At least that is my current understanding of the topic.
     
    #11     Oct 15, 2011
  2. clacy

    clacy

    Agreed. Federal and State tax policy are two completely separate entities.
     
    #12     Oct 15, 2011