Wednesday, October 19, 2011

More About 9-9-9

Tax Policy Institute's Analysis of 9-9-9 plan:

http://www.taxpolicycenter.org/taxtopics/Cain-9-9-9-plan.cfm


Summary from Ezra Klein's Wonkbook (10/19/11):

They found that the proposal would raise taxes on 84 percent of households -- and, broadly speaking, those 84 percent of households would be the bottom 84 percent. A family in the bottom 20 percent of the income distribution can expect their tax bill to rise by more than $1,600. A family smack in the middle will be paying will be paying $3,238 more. It's not until you get to households making more than $200,000 that you begin to see tax cuts. If you're in the top one percent, your tax bill will drop by $307,000. The top 0.1 percent? A tax cut of almost $1.7 million.

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