Baramos
Civilian
- Joined
- Aug 12, 2012
- Messages
- 836
- Reaction score
- 1
- Points
- 11
I currently don't pay a federal tax because I don't make very much money. Under Johnson's plan I would suddenly be paying a 23% federal sales tax, and a base federal tax of some amount (though I think that may have been changed to only people over a certain income, making it not a true Flat Tax...probably why they changed it to FAir Tax) I have the feeling it would add up to more than my state, local, and social security payments, which I'm not even sure the federal sales tax would supersede, there might still be state and local taxes and state sales taxes, right? Or does his plan intend to get rid of those somehow (I couldn't find it on his website page, or else I overlooked it)?
Also, I have a problem with him privatizing social security. His plan for privatizing social security is basically just setting up the equivalent of a Roth IRA for people, where they take the money going into "social security" and the employee invests it wherever they feel it should go, and take the losses or gains accordingly when they retire. It's essentially just getting rid of social security altogether and doing the Charles Schwab or TD Ameritrade paperwork for people instead of them filling the form out themselves. I already invest part of my income through Charles Schwab--I want the security that the current public social security provides in case the bottom falls out of the stock market. Under Johnson, I would be entirely at the whims of the market instead of just partially.
Also, I have a problem with him privatizing social security. His plan for privatizing social security is basically just setting up the equivalent of a Roth IRA for people, where they take the money going into "social security" and the employee invests it wherever they feel it should go, and take the losses or gains accordingly when they retire. It's essentially just getting rid of social security altogether and doing the Charles Schwab or TD Ameritrade paperwork for people instead of them filling the form out themselves. I already invest part of my income through Charles Schwab--I want the security that the current public social security provides in case the bottom falls out of the stock market. Under Johnson, I would be entirely at the whims of the market instead of just partially.
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