Herman Cain: “I Don’t Have The Facts To Back This Up”

GTFOH with you 9-9-9 TAX CUT PLAN!!! This would make my financial situation living hell, the thought of paying more than I already do in taxes (roughly $800 a month) is beyond scary. I am a single mother, with NO financial support from my son’s father…so can you help out the middle calss people like me instead of continuously drowning US!!! Cain you will DEFINITELY not be getting my VOTE!!! Screw you & your damn 9-9-9 tax reform plan!!!

MSN reports — The Tax Policy Center has released its analysis of Herman Cain’s 9-9-9 plan, and it finds that the only people who would benefit from it are those making more than $200,000 a year.

Everyone else, especially the poor, would pay more. And the middle class would now have the highest effective federal tax rate.

Those making $1 million a year or more would get a gaudy nearly $500,000 tax cut, a 15% change in their favor.

The poorest, those making between less than $10,000 a year up to $30,000 a year would see a between 15% and 20% tax increase. That means they would pay between $1,100 and $3,800 a year more in taxes.

Those making between $30,000 and $100,000 a year, would pay more than $4,000 a year more in taxes.

Here’s how the numbers break down by income level:

  1. Less than $10,000: $1,122 more (19.5% increase, 22.1% tax rate)
  2. $10,000-$20,000: $2,705 more (17.8% increase, 19.7% tax rate)
  3. $20,000-$30,000: $3,833 more (15.0% increase, 22.1% tax rate)
  4. $30,000-$40,000: $4,196 more (11.7% increase, 23.2% tax rate)
  5. $40,000-$50,000: $4,399 more (9.5% increase, 23.8% tax rate)
  6. $50,000-$75,000: $4,326 more (6.9% increase, 23.8% tax rate) *yea thanks!*
  7. $75,000-$100,000: $4,368 more (4.9% increase, 23.8% tax rate)
  8. $100,000-$200,000: $2,105 more (1.5% increase, 23.1% tax rate)
  9. $200,000-$500,000: $11,155 less (3.8% decrease, 20.6% tax rate)
  10. $500,000-$1 million: $59,489 less (8.6% decrease, 18.1% tax rate)
  11. $1 million or more: $455,247 less (15% decrease, 17.9% tax rate)

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