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Detailed text transcripts for TV channel - MSNBC - 20111014:13:36:00

you know shall the cain people talk about the hidden payroll taxes that companies pay, which would be another $2,500. i don t see how he gets to $10,000 one way or the other. the most you could come up to $3,515 at the high end assuming standard deductions for children and all that stuff. that is the most tax you can come up with on a family of four making $50,000. exactly. there is one thing, the child tax credit. you have two children. that s a huge cut off here. your income that you re taxable income goes almost all the way down i think to $24,000 for the family of four that makes $50,000. let s talk about then how much money is left over. here s what cain said how much money would be left over and how the 9% tax works. with 999 they re going to pay that 9% personal, tax on their income so that s only $4,500. they still have $5,500 left over

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