Sunday, October 16, 2011

Via JMG: Herman Cain Is Completely Insane

Think Progress:
As we’ve noted, because low-income Americans spend almost all of what they earn, while the wealthy do not (and earn a significant amount of their money from investments, the income from which goes untaxed entirely under 999), Cain’s plan will be a massive shift in the tax burden down the income scale. Of course, as Cain has explained, the poor could always just buy used food in order to lower their tax rate. And evidently he believes Americans will be so overjoyed at the prospect of higher taxes that they will flood the streets to demand them.

reposted from Joe

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