Note: This blog's templates will be updated this afternoon to a responsive design bringing it in line with

At that time, we will also change to the Facebook commenting system. You will need to log in with a Facebook account in order to comment.

« Florida poll: Herman Cain over Mitt Romney by 6. Is single-digit Rick Perry done? | Main | Union battle brews as Teamsters try to usurp the PBA »

Herman Cain's 9-9-9 plan saves the rich $. Costs the poor more

Republican presidential candidate Herman Cain's proposed 9-9-9 tax plan would shift the tax burden in the United States, raising taxes on the poor while cutting taxes for the wealthy.

Cain proposes to scrap the current tax code and replace it with a flat 9 percent tax on personal income, a second 9 percent tax on corporate income, and a third 9 percent tax on sales. It also would eliminate the payroll tax paid for Medicare and Social Security, the estate tax, and capital gains taxes.

While the Cain campaign has not produced enough details for thorough independent analysis, a flat 9 percent income tax and a 9 percent national sales tax would almost certainly mean higher taxes for at least the 30 million U.S. households that now pay no federal taxes.

And it almost certainly would mean big tax cuts for the wealthy, who now pay a 35 percent marginal rate on their income above $379,150.

More here