Herman Cain's $9.99 pizza tax ruse

Cain's 9 per cent national sales tax would "broaden the tax base." What Cain means is that those 40 per cent of Americans who make less than $30k per year and pay no fedral income tax would have to ante up anytime those folks bought anything. Most of these people live in the Red States.

Cains' tax ideas are reminiscent of Mike Huckabee's Fair Tax that was hardly fair to the average American. Cain is advocating regressive taxes that would make federal taxation highly regressive.

Under Cain's plan a person purchasing a $100,000 home would owe the feds $9K in taxes. Your mortgage payments woulds also be taxed. If you purchased a $20k vehicle you would owe the feds $1800 in taxes on top of state sales tax.

Cain also wants to eliminate the capital gains tax and the Estate tax which would endear him to people who make more than $200,000 per year, millionaires and billionaires.

The big losers in Cain's tax plan would be the poor, the working class and the middle class.

As Hysterical Raisins put it,

By almost any measure — social, political, economic, logical — Herman Cain’s 9-9-9 tax plan is nuts, nuts, nuts.

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