9-9-9 Plan Would Almost Double Taxes on Middle Class

[cal04]

http://abcnews.go.com/blogs/politics/2011/10/9-9-9-plan-would-almost-double-taxes-on-middle-class/?utm_source=twitterfeed&utm_medium=twitter

Herman Cain is running on three numbers: 9-9-9.

(snip)
Although the family would save almost $4,000 in Social Security taxes, it would have to give up the child tax credit of $4,000. Furthermore, it would pay an additional national sales tax of 9 percent on everything purchased, including groceries and clothes, which totals about $2,000.

That means under the Cain plan that family would be almost doubling its taxes, going from $3,400 to $6,500.

“It’s going to raise the price of just about everything by about 9 percent,” said former George W. Bush economic policy adviser Bruce Bartlett. “We know from experience and analysis that that tends to hurt people with low incomes.”

[DesertFlower]

1. and the rich will pay only 9%.

[wordpix]

4. yes, but that's AFTER their deduction for corporate jet use, no doubt

[wordpix]

2. michelle bachmann might read this to learn about the devilish details but

i'm not sure she's interested in hard numbers.

[Zoeisright]

8. Not only is she not interested in hard numbers,

she's too stupid to understand them.

[teddy51]

3. I thought it was 666, no? At least that is what Bachmann has said. n/t

[tabatha]

5. And it would kill SS and Medicare.

I think the Koch brothers have got Cain's ear.

[recoveringdittohed]

6. Why isn't Grover Norquist having a hissyfit?

Is Herman Cain getting a pass from Norquist? 9-9-9 creates a new Federal tax how does that not violate Republican theology?

[sam11111]

7. tax cuts for the rich led to the Great Depression

Top tax rate history --

(graph is from Wikipedia, on page linked here about 90% of the way down)
http://en.m.wikipedia.org/wiki/Income_tax_in_the_United_States