“Three of a kind” is no good if they’re 9’s!
Or, “Why Republicans Can’t Do Math….”
Although a lot of Republican candidates for President have BLASTED Herman Cain’s 9-9-9 tax “reform” plan, perhaps the most scathing criticism comes from mathematical estimates from the nonpartisan Tax Policy Center’s analysis of the proposal. According to the Tax Policy Center, 84% of U.S. households would pay MORE than they do under current tax policies! And those who would be impacted most strongly by Cain’s proposal would be the lowest income groups.
Hey! He’s a Republican after all! 
Politics is secondary to capitalism in most Republicans.
So much for “Tax the Rich.” Just because you can UNDERSTAND a policy doesn’t mean it’s GOOD!
Some of Cain’s 9-9-9 plan would replace much of the current tax code with a flat-rate system: 9% individual income tax, 9% corporate income tax, and 9% national sales tax. Estate and gift taxes would be eliminated, as would payroll tax and most tax deductions, credits, and exemptions.
Capital gains would be tax-free! (Take a look at where most rich investors make their money.) Dividents would be deductible to businesses paying them out and taxable at 9% for investors who receive them.
BUT… households with incomes less than $30,000 would have, on average, 16-20% LESS after-tax income than they have today, according to the Tax Policy Center! (Hey! Is that most of the retired Baby Boomers living off savings and while-it-lasts Social Security? )
Oh… and households making MORE THAN $200,000 would see their after-tax income GROW by 5-22%, on average! In case you have forgotten how PERCENTAGES work, percentages of BIG NUMBERS amount to a LOT more money than percentages of small numbers.
CNN states:
“But the majority of the highest income households would get a tax cut. For instance, 95% of those with more than $1 million in income would receive an average tax cut of $487,300.
Under Cain, capital gains — a notable source of income for the wealthiest Americans — would be tax-free. He would also preserve the charitable deduction. And taxing all non-capital gains income at 9% would amount to a considerable break from today’s top rate of 35%.”
If you are not in the top 1% of income earners, and you vote for a Republican Presidential candidate, you deserve what you get – because YOU probably can’t do math, either!
-Bill at
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