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  • Cain’s ‘9-9-9’ tax plan hits poor, helps wealthy, experts say

    10/13/2011 6:16:07 PM PDT · by mdittmar · 128 replies · 1+ views
    The Bangor Daily News ^ | Oct. 13, 2011 | JODI ANN FERRIS,Michael A. Fletcher,The Washington Post
    The “9-9-9” plan that has helped propel businessman Herman Cain to the front of the GOP presidential field would stick many poor and middle-class people with a hefty tax increase while cutting taxes for those at the top, tax analysts say.The plan would do away with much of the current tax code and impose a 9 percent personal income tax, a 9 percent business tax and a 9 percent national sales tax, which tax experts say would mean that low- and middle-income Americans would pay more.“Right now, we have a strongly progressive income tax. High-income people are paying a higher...