The Tax Policy Center has done yet another analysis of Herman Cain's 9-9-9 plan, and guess what? Unless you're really rich, your taxes will go up! If you earn, say, $50,000 per year, you currently pay about 14.3% of your income in federal taxes. Under Cain's plan, you'll pay 23.8%. Whee!
And if you make the big bucks? Well, millionaires currently pay about 32.9% of their income in federal taxes. Under Cain's plan, they'll pay 17.9%. Ka-ching!
rest at
http://motherjones.com/kevin-drum/2011/10/chart-day-cost-9-9-9
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