Herman Cain's 9-9-9 tax sounds great: small numbers, nice symmetry. But under the plan, a typical household making more than $2.7 million would pay a smaller share of its income in federal taxes than one making less than $18,000.
The focus of Tuesday's Republican presidential debate was supposed to be Herman Cain, but Rick Perry and Mitt Romney went at each other like heavyweights, suggesting that each thinks the other is his main competition.
9-9-9 tax plan is helping Herman Cain soar in GOP presidential polls. But does a 9 percent national sales tax and a flat 9 percent income tax take from the poor and give it to the rich?
President Obama and others expected Republicans to vote against the jobs bill but Obama says, 'we can't take 'no' for an answer.'
The idea would raise the average tax bill of those making a million or more by $110,000. Almost nobody else would pay a nickel. But it perpetuates the dangerous myth that we can address our fiscal problems by taxing only a handful of rich people.
$3 trillion in deficit cuts from Obama will be paid for with taxes on the wealthy. The $3 trillion plan is a longer-term follow up to the $447 million in tax cuts and public spending that the president announced as part of a short-term stimulus plan.