Show me the math - I'd pay 33% - this isn't consistent with what you said before when you did what I called fuzzy math - what is your growth rate assumptions? Which candidate is proposing this? Originally Posted by cckid2006Taxable wages paid 2009: $5,900,000,000,000
U.S. Corporate Profits 2009 : $5,000,000,000,000 (based on quarterly avg. of $1.25 Trillion)
5,900,000,000,000 + 5,000,000,000,000 = $10,900,000,000,000 = Taxable dollars under Perry's plan
Current U.S. Budget : $3.7 trillion
3,700,000,000,000,000 / 10,900,000,000,000 = 0.3394495412844037
Closer to 34% actually.
What's so inconsistent or "fuzzy" about it? It's 5th grade math. It just has a lot more zeros.
Current growth rate is a rather dismal 1.3%. You can do the 5th grade math on that if you're really interested.
The only candidate proposing tax hikes to my knowledge is Obama. In all actuality, it doesn't even need to be proposed. Letting the Bush tax cuts expire was for all intent and purpose, built in to the debt ceiling agreement. In a nutshell, they either need to come up with $1.2 trillion before Christmas, or the cuts will default to half discretionary and half defense. None of the idiots in Congress are going to allow defense to be cut by $600 billion. Expiring the tax cuts and creating more revenue is the only other option.
http://www.bloomberg.com/news/2011-0...due-today.html