Thursday, October 20, 2011

How would Cain's 9-9-9 plan affect you?

So, something like four fifths of you would wind up paying more in taxes under Herman Cain's 9-9-9 tax than you do under the current system. Which four fifths? The poor fifths, of course!

Which just makes sense, of course, because, as Cain says, "It is not someone’s fault if they succeeded, it is someone’s fault if they failed." So, to you bottom four fifths of American households out there: you are failures, and you need to own up to it; these success yachts aren't going to buy themselves!

But how, specifically, would the upside-down 6-6-6 plan affect you? Here is one of the best graphs ever, created by Brian Highsmith, and posted by Jared Bernstein. The bars show the change in tax liability for different American households under Cain's plan:

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