Wednesday, October 19, 2011

The impact of Herman Cain's "9-9-9" tax plan... one REALLY LONG graph, via Jared Bernstein and the Tax Policy Center.

Cain:"Stupid people are ruining America!"
Presidential aspirant, book tour star and pizza Godfather Herman Cain has a tax plan that raises taxes on the bottom 80% of the population.

The working poor see their taxes raised nearly $2000 on average.  Most Americans who have jobs will see a tax increase of around $4000 - while the top 20% of earners will see a tax reduction of over $14,000 on average.  But even that average distribution is deceptive.  What's most startling is how Cain's plan benefits the top 1% - and even more amazing, how his plan cuts taxes on the top 10% of that top 1%:

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