19 October 2011

Herman Cain's 9-9-9 Plan Illustrated

The first figure shows that average tax payments go up, on average, for the bottom 80% of households, including the bottom fifth (average income, $10,100) by about $1,700, and for the middle fifth (avg inc: about $50,700) by about $3,200. The average tax payment for the top fifth (avg inc: $273,000) falls by about $23,500.

If you break out the top 1% (avg inc: $1.8 million) and the tippy-top 0.1% (avg inc: $7.9 million) . . . It reduces the tax burden of the top 1% by $300,000 and that of the top 0.1% by…$1.7 . . . million.

From here.

Clearly, based upon his proposal, we can conclude that Mr. Cain is a class warrior for the rich and favors increased federal budget deficits.

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