Herman Cain 84% of Americans would have their taxes increased under 9-9-9

[michaelkellenger]

http://money.cnn.com/2011/10/18/news/economy/cain_999_plan/index.htm

This needs to be spread!

 

[ItsTime]

ha. what a small government republican he is!

 

[goldencane]

I agree that his plan would raise taxes for most people, but I am a little confused about how they came to 84%. In the report it says that "The bases of all three taxes are essentially the same as the base of a national sales tax" and that "the three taxes combined are equivalent to a 25.38 percent national sales tax".

Can anyone explain to me how an income tax can be essentially the same as a sales tax? One is based on the outflow of money and the other is based on the inflow of money. I don't exactly see how they can equate the two.

 

[erowe1]

And that's not counting the 100% of Americans who will see their taxes increase when 9-9-9 becomes 15-15-15.