Tag Archives: Rick Perry

Will a Flat Tax or Cain’s 9-9-9 Save Money? You decide

There has been considerable controversy over a variety of Republican proposed tax plans. With the Super Committee’s efforts to decide how to save $1 trillion the US Treasury Department could cough up a little chunk.

 The proposed 2012 Budget for the Internal Revenue Service (IRS) is $14 billion, a long way short of the 1 Trill we need, but a good start.  With the adoption of any plan: Flat Tax, Fair Tax, or Cain’s 9-9-9 will eliminate about 80% of the IRS funding.  That would result in a budget reduction of over $11 Billion- that’s a lot of bananas. That money would go straight to the bottom line of our tax payers and eliminate an estimated $14 Billion in tax preparation in the private sector.

The below link is from the official US Treasury budget, The Executive Summary.  This will verify the numbers I have outlined and you can apply your own assumptions, but we know that the IRS Tax Code is definately a make work program that is neither fair nor effectively adminstrated.

http://www.treasury.gov/about/budget-performance/budget-in-brief/Documents/FY2012_Exec_508.pdf

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