The Tax Policy Center has the distributional analysis of 9-9-9. It’s awesome:

[phantom power]

This may be the most regressive tax proposal I've ever seen:

Howard Gleckman summarizes:

A middle income household making between about $64,000 and $110,000 would get hit with an average tax increase of about $4,300, lowering its after-tax income by more than 6 percent and increasing its average federal tax rate (including income, payroll, estate and its share of the corporate income tax) from 18.8 percent to 23.7 percent. By contrast, a taxpayer in the top 0.1% (who makes more than $2.7 million) would enjoy an average tax cut of nearly$1.4 million, increasing his after-tax income by nearly 27 percent. His average effective tax rate would be cut almost in half to 17.9 percent. In Cain’s world, a typical household making more than $2.7 million would pay a smaller share of its income in federal taxes than one making less than $18,000. This would give Warren Buffet severe heartburn.

http://krugman.blogs.nytimes.com/2011/10/18/tpc-does-herman-cain/

[chill_wind]

1. k & R.

[PA Democrat]

2. A dream come true for the greedy Koch brothers.

And a total disaster for the economy.

So how will FOX News sell this to their ignorant viewers?

[phantom power]

4. I assume FOX can sell it easily enough: just don't show anybody that table.

[cui bono]

3. That's just what this country needs!!!

We can stop OWS now and go to work on Cain's campaign.

Phew. Feels good to be heard.

[Shagbark Hickory]

5. If this guy gets elected, republicans really are brain dead.

All they ever talk about is tax cuts.
Yet they're favoring someone who's promising to raise taxes.
WHAT
THE
FLUCK?
:wtf:

[LongTomH]

6. You missed the point!

He only wants to raise taxes on the lower and middle classes.

He wants to lower taxes for the upper 1%.

[Shagbark Hickory]

9. I didn't miss the point.

I was referring to the middle caste who constantly talks about tax cuts.

[dkf]

7. So it actually raises more in taxes than the current system? Lol.

I thought that was a central tenet of the GOP...don't raise taxes.

[phantom power]

8. well, "don't raise taxes... on *right* people" wink-wink, nudge nudge

[dkf]

10. I'm actually not sure how to read this.

What is "with tax cuts" and "without tax cuts"?

I just used the written analysis to zero in on the impact in "all".

[phantom power]

14. My interpretation is post #13

[krispos42]

11. I don't understand the columns at all

Is the 9-9-9 plan under "with tax cuts" or "with tax increase"?

Am I supposed to add up the rows?

:wtf:

And clicking on the link, or the tax policy center link in the Krugman blog, doesn't offer any explanation.


What the hell is a "tax unit"?

[dkf]

12. Me too.

[phantom power]

13. Based on my interpretation of footnotes: tax unit is a person/group filing...

So, anybody filing individually is a tax unit. I assume that my wife and I, who file jointly, count as one tax unit. My daughter is a dependent, and so would be counted with us as part of the same tax unit.

The columns "with tax cuts" represent those tax units who would actually experience a tax cut. Similarly, for "with tax increase" So for example the lowest quintile: only 2.7% "people" (tax units) would see a tax cut, and the cut would be on average $650. 91.1% would see a tax increase, and it would be on average an increase of $2053. Over-all, the lowest quintile would see (on average) an 18.7% decrease in after-tax income. (i.e. would be boned).

[krispos42]

16. Ahhh...

...Okay. I was thinking there were two plans, one a reduction and one an increase.

Thanks! :fistbump:

[Yo_Mama_Been_Loggin]

15. Sounds like Cain is drinking the Boner's hooch

Don't tax the job creators.