The Cain 9 9 9 plan the rich pay less and the poor pay more - New England Patriots Forums

***DarrylS*** · 10-19-2011, 10:08 AM

Perhaps nein nein nein would be a better term for this plan, all it would do is continue to rob the middle class and increase the great divide between the rich and the poor...

Study: Cain tax plan raises taxes on 84 percent

Quote:

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.

"You're 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. "That's 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.

"It's very, very regressive compared to the current system, and that's largely because we're exempting capital gains, and we're taxing your spending with the sales tax," Williams said. "People at the top end don't spend all their money and they get a lot of capital gains, so they are doing pretty well here."

chicowalker · 10-19-2011, 10:36 AM

It's 9-9-9-9, Darryl -- you skipped the payroll tax.

***Harry Boy*** · 10-19-2011, 10:45 AM

The Tax Policy Center
Damn Racists

"obama is white"

khayos · 10-19-2011, 11:51 AM

So, should 47% pay no taxes?

JackBauer · 10-19-2011, 12:29 PM

47 percent pay no taxes? You sure about that?

khayos · 10-19-2011, 12:38 PM

Pretty sure.

mcgraw_wv · 10-19-2011, 12:52 PM

Yes, you are correct, there are lots of Poor ( non-tax paying people ) who would now pay for the services for which they are so dependent.

Is there something wrong with that?

Why are we shocked and appalled about people paying into this country? Shouldn't you want to pay your fair share for the good and services you so demand?

I don't like Cain's plan... only becuase it keeps the Income Tax, we can't have both, else we will simply end up with the 20 20 plan in a few years.

mcgraw_wv · 10-19-2011, 12:56 PM

Also, no reports on his plan take into account a drop in prices due to a drop in expense for corporations...

Lower prices means lower taxes paid.

***DarrylS*** · 10-19-2011, 12:59 PM

While the focus easily turns to the right wing talking point that 47% do not pay taxes... the figure that sticks out is those making between 40K & 75K will have to pay more than 4300 per year....

Just what I need......

Ilikehappyppl · 10-19-2011, 01:29 PM

Quote:

Originally Posted by khayos

So, should 47% pay no taxes?

They pay no INCOME taxes is what you meant to say, they pay payroll taxes,sales tax,property tax,State tax. Also most of the upper class don't pay there full income tax because of deductions....its fun to learn!=)

So the rich pay one more tax then they do, you want a cookie?