Tax Policy Center’s Analysis of Herman Cain’s 9-9-9 Tax Plan
The Tax Policy Center did an analysis of Herman Cain’s 9-9-9 tax plan to see how it would affect taxpayers from the Bottom 20% to the Top 0.1 % regarding average household tax liability. While the results were striking, they weren’t too surprising as the author of the linked article had this to say:
If you create a flat tax, strip out the deductions for working families, and leave investment income untouched, you’ll inevitably raise taxes across the board except for the investor class.
(H/T The Atlantic)