Saturday, October 29, 2011

Herman Cain's 9-9-9 Tax

How does the 999 plan affect income?  Here is the Tax Policy Center's score of the plan with respect to the tax change by cash income percentile.

Does it look fair?  Can you even interpret it?

23 comments:

Danielle Verdin said...

I don’t even know where to begin trying to read this. This just might be my fault. In order to read this I think you need to be able to understand this to possibly understand what he is trying to say government taxes should be according to him

Andrew Schadegg said...

I agree with Danielle. I have looked at it a few different times hoping that I would catch something that made sense, but I don't understand the numbers at all? What is a Quintile? I googled it and it says something about pharmaceutical, commercial and consulting services? Just more political mumbo jumbo if you ask me? In other news I read an article about Republican Presidential hopeful Mitt Romney has a new plan to re-shape Medicare with a voucher system and is supposed to cut federal spending by 500 billion?? Really, really, 500 Billion?? Where do these stupid politicians come up with such BS?

Keith kaczocha said...

I haven't got a clue what I am looking at. It all becomes so confusing trying to listen to all the politicians talk about the economy.

Anonymous said...

Torie Fuller

This is very hard to read and understand. From the way the table is set up to the words and abbreviations. The general public would not be able to understand this table at all. This is an example of how politicians confuse voters.

Vickie Snell said...

I do not understand the tables with the percentiles, but I did read an internet article from the Huff Post Politics explaining Cains 999 plan. The article explained that Cains plan would "scrap current taxes on income,payroll, capital gains and corporate profits and replace them with a 9% tax on income, a 9% business tax and a 9% national sales tax." According to the article Cains plan would raise taxes on 84% of US households. The increase in taxes would hurt the lower and middle income families the most. I cannot interpet the Tax Policy, but I feel that this tax increase would severly cut our income short.

Erick Holzhausen said...

Ya... I'm with everyone else. I'm having trouble reading this chart also. If it is a negative number (-) is it a difference from what the tax rate is now, as in a -15.7 change from what it is now?

Mary Beth Renz said...

I agree with everyone else here. I don't even know where to begin to interpret it and I haven't heard Herman Cain talk about his 9-9-9 tax plan. So I'm in the dark here and this chart is very confusing to me.

amy feng said...

I agree with Vickie & everyone else. Cain's 999 Plan seems unfair and that it being directed towards the middle and lower classes. As well as, I have no idea how to read this chart and such.

Shirley Paris said...

I do not know how to read this thing, but it does not look very fair. There is a lot of negative numbers on the chart. Negative is never good!

C'Anne Reichert said...

I'm on the same page as everyone else. This chart is very unclear to the general public and could be extemely unfair if voters were required to vote for it or against it with out being able to determine how it will affect them.

Dana Bartels said...

I have no idea where to start to understand this tax chart. I am lost trying to learn about Cain's 999 tax proposal. I watched a you tube video of Herman Cain defends 999 plan and this is a sad interpretation of trying to help the general public understand his 999 plan. By using an example of a producer selling flour to a bread maker then bread sold to the consumer. This is wood over the eyes of our nonpolitical community. By Cain giving this example doesn't explain this plan to us. Political BS indeed

Dana Bartels said...

oops meant to say "wool" not wood, unsure how to amend blog comments, any help is appreciated :) Thanks, Dana

Anonymous said...

Yeah it is very confusing to read. It seems as though it still follows the richest of the rich get taxed the most and the poorest get taxed the least. And the middle class get taxed just enough to make it really sting.
-Kristin King

Eng Hong Sin said...

I would say no matter what kind of tax plan is released, the government intent to save the country. The richer tax more because they can contribute to save the coutnry more. Until August 2011, China still hold $1,137bn of US debt. If the US citizens don't treat it as a serious problem, the debt would keep rising. Eventually, China would control the whole US economy.

Lauri Hess said...

Yes I agree with everyone else - totally confusing and really don't understand it!

Timothy Swonger said...

I absolutely love this plan and the chart is simple and straight forward, probably one of the least complicated tax charts I've ever seen. As someone who is in the top 1% of the income bracket in America, I would love to see this tax get passed. I am completely joking, I have no idea what to look for on this chart. If it's true that it's harder on the lower and middle income classes than our current tax system, then I don't want it passed.

Chris Yang said...

I am with everyone else too. I have no idea how to read the chart and it hurts my eyes from all the numbers. I wish I could understand it though.

Nikki said...

So I don't know 'how' to read the chart, and I'm not sure if my assumptions are correct. But here goes nothing. From what I surmise, it seems as if the 9-9-9 plan is looking to equalize the tax burden. Looks like no matter which percentile you fall, you almost have an equal tax rate to all income levels. This will result in the poorer getting poorer and the rich getting richer. More taxes will be paid out of the lower percentile's incomes and less out of the upper percentile's income.

Una Kim said...

Im with everyone else. I have no idea what im looking at but wish I did...

Faith Evans said...

It seems, and according to the article I read online about this, middle class would have an increase in taxes in an amount just higher than the income class right above them. People making at least one million dollars would see their taxes cut in half. Lower class households making between 10,000 and 20,000 yearly could see a tax increase of $2700. That is a large increase, 27% for people on the low end. This seems that it would really hurt the lower and middle class households.

Bre Hart said...

I have no idea what any of this means. Is that the point,to make it so complicated and ridiculous that people don't understand?

Austin McNatt said...

Just as many have said, I dont really understand the chart. I have looked at it many of times and I just dont understand. I googled the plan to find out some information about the plan. What I understand is the goal of this plan is to have a 9 percent tax on corporate income, 9 percent tax on individual income, and 9 percent tax on national sales tax. This plan seems like it is going to hurt the lower and middle classes. Which I believe is unfair. The upper class should be affected more because they have the means to pay a higher tax.

Andrew S. said...

So why not tax the poor, that's what this plan does, let's continue to separate the classes from each other until no one but the rich can buy a home. This plan raises taxes for those who do not have the disposable income to survive. It hurts a magority of Americans and is idiotic in my opinion