Cain's "999" Tax Plan explained. And it's worse than you can imagine.

[NYCGirl]

http://gothamist.com/2011/10/12/gop_debate_what_the_hell_is_herman.php

But what are the details of this 9-9-9 plan? Herman Cain doesn't really know! But per the analysis of qualified economists looking at the scant details on Cain's website, 9-9-9 apparently stands for "Screw-the-poor." To even get to the meat of the 9-9-9 plan requires a complete overhaul of the tax code to favor the wealthy. First, Cain's proposal would shrink taxes for individuals and businesses to a maximum of 25%, then it would eliminate all taxes on profits earned by multinational corporations outside the country. This would mean that companies like Philip Morris and Pfizer would pay ZERO taxes on their profits. Then, capital gains taxes would be abolished, cutting off $100 billion in federal revenue every year.

Slash the payroll tax (another $800 billion from government coffers) and the estate and gift taxes, and then we'll implement 9-9-9, which stands for a 9% sales tax, a 9% indvidual flat tax and a 9% business flat tax. What does this mean for the 99%? They pay more taxes, while those in the highest income brackets pay less. Finally, sometime after we beat back the laser-wielding rat colonies and crawl from the smoking wreckage of the hellscape that is our country, Cain's proposal would have us institute a "Fair Tax," which is pretty much the most unfair thing ever created by mankind (bowling alley claw machines excepted).

Sure, the candidate should probably hire an actual economist to come up with his tax platform, but that's a formality. Who's ready for 8 years of prosperity under President Cain? Or is it President Kang?

[SoapBox]

1. More on this at Think Progress...

I was just reading at Think Progress.

This "Plan O' Crazy"...would be SO bad for the 99%!

Maybe it should be called the 999.99 plan because we would be screwed!

"NEW ANALYSIS: The Three Things You Need To Know About Herman Cain’s 999 Plan"

http://thinkprogress.org/economy/2011/10/13/343181/cain-999-plan-analysis/

[Blue_Tires]

8. The media and most of the public absolutely LOVE

nice, simple, easy-to-explain proposals to complex issues...The fact that it has it's own catchy name is just icing...

[FarCenter]

2. Nein! nein! nein!

[lapislzi]

3. +1!

[Gin]

4. I wondered why no mention of SS and Medicare when he was

describing his "plan" well....he does away with that...and the churches & states pitch in...

he is a loon and gets wayyyyy to much air time.

Bachmann was right...the devil is in the details.

[durablend]

6. Teabaggers giddy over those details

Even if they themselves get screwed over, abolishing the "eeevul leftist socialist agenda" makes it all the more worth it to them

[dembotoz]

7. god that is a great image for a tshirt.

our favorite nazi with the caption nein nein nein.

[FarCenter]

9. You'd need to modify Herm's moustache slightly.

[Initech]

10. NEIN!!! NEIN!!! NEIN!!! NEIN!!! NEIN!!! NEIN!!! NEIN!!! NEIN!!!

http://www.youtube.com/watch?v=1MLry6Cn_D4

[tridim]

5. Don't blame me, I voted for Kodos.

Twirling, twirling, TWIRLING towards freedom!

[dawg]

11. Let's call it the 99% plan.

Because it raises taxes on the 99% in order to slash them on the 1%.

(I know my percentages are off somewhat, but the symbolism is too good to pass up.)