Matt Yglesias sums up what Herman Cain's awful 9-9-9 Plan means for the middle class in this pair of charts showing the change in the average American's yearly tax burden:
And yes, this means for working class Americans earning between $10k and $40k a year, you can expect to pay 10% of your entire yearly income more in taxes under the plan, while your average millionaire will save about $450,000 a year. Oh, and it'll add trillions to the national debt too because of lost revenue, to the point of needing to go well beyond the draconian cuts Paul Ryan and friends demanded in the House earlier this year in order to "balance" the budget.
But maybe that's the point. Hey "Tea Party Real Americans who work for a living" what part of "massive middle class tax hike" do you still not get about Cain?
Wednesday, October 19, 2011
The 4-1-1 On The 9-9-9 Plan, Con't
StupidiTags(tm):
2012 Election,
Economic Stupidity,
GOP Stupidity,
Herman Cain Is Just Misunderstood,
Wingnut Stupidity
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