Cain’s 9-9-9

 Posted by at 18:50  Politics, Republicans
Oct 182011
 

It’s no wonder this guy is leading in the Republican polls…

That’s rich: Only the wealthy would benefit from Cain’s 9-9-9 plan

The Tax Policy Center has released its analysis of Herman Cain’s 9-9-9 plan, and it finds that the only people who would benefit from it are those making more than $200,000 a year.

Everyone else, especially the poor, would pay more. And the middle class would now have the highest effective federal tax rate.

Those making $1 million a year or more would get a gaudy nearly $500,000 tax cut, a 15% change in their favor.

The poorest, those making between less than $10,000 a year up to $30,000 a year would see a between 15% and 20% tax increase. That means they would pay between $1,100 and $3,800 a year more in taxes.

Those making between $30,000 and $100,000 a year, would pay more than $4,000 a year more in taxes.

I’ve said it before and I’ll say it again… If you earn less than $250,000 per year and you vote for Republicans, you are an idiot. Sorry, but you are.