Herman Cain's now ubiquitous 9-9-9 tax plan went from the ridiculous to the sublime during Tuesday night's Republican presidential debate. While House Republicans and Grover Norquist had complained that the pizza mogul's proposals constituted a tax increase, some of Cain's fellow White House hopefuls actually expressed concern that it would be lower and middle income Americans paying it.
And that is a very shocking development, indeed. After all, while he differs in his particulars, Herman Cain like Paul Ryan and George W. Bush would deliver a massive tax cut windfall for the wealthy. And like the Ryan budget voted for by 98 percent of Capitol Hill Republicans, the 9-9-9 plan would dramatically shift the tax burden to lower income Americans.
This week, the nonpartisan Tax Policy Center added its devastating analysis to the growing list of negative assessments of the Cain 9-9-9 plan. Cain's opponents seized on it to punish him throughout last night's CNN debate. "The worst part about it," Congressman Ron Paul fretted, "It's regressive. Rick Santorum explained why:
"[R]eports are now out that 84 percent of Americans would pay more taxes under his plan. That's the analysis. And it makes sense, because when -- when you don't provide a standard deduction, when you don't provide anything for low-income individuals, and you have a sales tax and an income tax and, as Michele said, a value-added tax, which is really what his corporate tax is, we're talking about major increases in taxes on people."
rest at
http://crooksandliars.com/jon-perr/cains-999-plan-latest-gop-tax-cut-windfall-for-wealthy
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