Here’s what Herman Cain’s ’9-9-9′ plan would do for you (UPDATED)
Herman Cain’s “9-9-9″ plan is catching fire with voters, in part because of its ease and simplicity. A 9% sales tax, a 9% income tax and a 9% corporate tax: Who wouldn’t understand that?
However, it’s less clear what effect the plan would actually have on the American taxpayers. That’s where the Center for Budget and Policy Priorities has stepped in, with a graph based on Tax Policy Center analysis forecasting exactly how much tax money the “9-9-9″ plan would cost or save Americans of every income level.
Here it is! (Warning: You may need to scroll down.)
However, if you do want to take issue with presenting these bars in absolute dollar terms rather than percentages of average tax burden, go ahead! (The top .1% of earners pay more dollars in taxes, so they have longer to “go down.”) Luckily, we’ve made our own percentage, based off of this data. It’s less dramatic, obviously, but still shows the same general point.
Amidst all the cries of “wealth redistribution” getting thrown around
the Occupy Wall Street protests, it’s worth noting that the ’9-9-9′ plan
would also redistribute America’s wealth in its own unique way: