If you are self employed or living on investments or small business, your income is treated by the IRS as 'unearned' and FU you are not working. I expect the IRS will not change on that either.

So its FU twice if you are both single and self employed. Check out how the EITC is administered. If you don't have 2 kids and are single, you don't get much, even if low income. That's how this plan will really work.

Or for that matter FICA. If self employed, you pay 12.4% for social security and 2.9% for Medicare. You folks that have an employer pay half that.

It's clear how this is going to go and if you are retired (and hence not a working family) self employed, or living on investments, you are just going to be screwed.

That's where the rubber will meet the road when they actually pass what they want. Promises are something else.

If you are self employed or living on investments or small business, your income is treated by the IRS as 'unearned' and FU you are not working. I expect the IRS will not change on that either.

So its FU twice if you are both single and self employed. Check out how the EITC is administered. If you don't have 2 kids and are single, you don't get much, even if low income. That's how this plan will really work.

Or for that matter FICA. If self employed, you pay 12.4% for social security and 2.9% for Medicare. You folks that have an employer pay half that.

It's clear how this is going to go and if you are retired (and hence not a working family) self employed, or living on investments, you are just going to be screwed.

That's where the rubber will meet the road when they actually pass what they want. Promises are something else.

Jack can you please address the issue of the 95% tax cut magic act? You post the benefits of this “tax cut”, but fail to mention the fact that between 35-40% of earners have no tax liability at all year to year. Please stop misleading people with your blog posts, or at least call it what it is, WELFARE. http://www.taxfoundation.org/research/show/2331...

You all seem to have a failure of understanding when it comes to economics, let me go ahead and dash your utopian, money-on-trees idealism -

If taxes are raised on the top quintile (many of which comprise small business filing as individuals) what do you think the market response is? Well oddly enough, or not at all, business simply raise the price of goods. This means that while you are cashing a nice little government welfare check, the money is being eaten at an increasing rate systemically each time you make a purchase. Remember that 3 dollar loaf of bread? Now it is 4 dollars. Come on people, wake the hell up and smell the economics.

Corporate tax rates are a large indicator of probable growth trends, the countries with lower corporate taxes have more rapid growth in GDP, standard of living, and economy as a whole. We currently have the second highest corporate tax rate in the world, under Obama we will claim the #1 spot.

http://www.taxfoundation.org/publications/show/...

Now how many more companies will outsource or relocate jobs? You have some tough questions to answer Mr. Turner, please consider carefully what you write and check it against the hard data, I think you will find something is gravely amiss.

Jack can you please address the issue of the 95% tax cut magic act? You post the benefits of this “tax cut”, but fail to mention the fact that between 35-40% of earners have no tax liability at all year to year. Please stop misleading people with your blog posts, or at least call it what it is, WELFARE. http://www.taxfoundation.org/research/show/2331...

You all seem to have a failure of understanding when it comes to economics, let me go ahead and dash your utopian, money-on-trees idealism -

If taxes are raised on the top quintile (many of which comprise small business filing as individuals) what do you think the market response is? Well oddly enough, or not at all, business simply raise the price of goods. This means that while you are cashing a nice little government welfare check, the money is being eaten at an increasing rate systemically each time you make a purchase. Remember that 3 dollar loaf of bread? Now it is 4 dollars. Come on people, wake the hell up and smell the economics.

Corporate tax rates are a large indicator of probable growth trends, the countries with lower corporate taxes have more rapid growth in GDP, standard of living, and economy as a whole. We currently have the second highest corporate tax rate in the world, under Obama we will claim the #1 spot.

http://www.taxfoundation.org/publications/show/...

Now how many more companies will outsource or relocate jobs? You have some tough questions to answer Mr. Turner, please consider carefully what you write and check it against the hard data, I think you will find something is gravely amiss.

Why not tell the truth and call it what it is redistribution or simply welfare.

Why not tell the truth and call it what it is redistribution or simply welfare.