Bass v 2.0
Biblical Warrior For God.
Herman Cain's "9-9-9 Plan" To Raise Taxes On 84 Percent | News One
One would expect Caintard to release his own research showing how his 9-9-9 plan would not shift a bigger burden on lower income earners but he hasn't done so and is playing the victim card.
The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent.
Youre talking a $2,700 tax increase for people with incomes between $10,000 and $20,000, said Roberton Williams, a senior fellow at the Tax Policy Center. Thats huge.
Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut nearly in half, on average, according to the analysis.
Among those in the middle, households making between $40,000 and $50,000 would see their taxes increase by an average of $4,400, the report said. Those making between $50,000 and $75,000 would see their annual tax bill go up by an average of $4,326.
Its very, very regressive compared to the current system, and thats largely because were exempting capital gains, and were taxing your spending with the sales tax, Williams said. People at the top end dont spend all their money and they get a lot of capital gains, so they are doing pretty well here.
One would expect Caintard to release his own research showing how his 9-9-9 plan would not shift a bigger burden on lower income earners but he hasn't done so and is playing the victim card.