Monthly Archives: October 2011

9-9-9 thoughts

Herman Cain’s 9-9-9 plan sounds great to the average voter.  I’m not sure the average voter knows what they pay in taxes right now.  A lot of the analysis coming out is saying that most people, except very high income folks, would pay a good chunk more in taxes.

It should be noted that flat taxes are always regressive, especially a huge national sales tax of 9%.  Poor folks would definitely see their rates go up, since a larger percentage of their income is spent on food, clothes, fuel etc.   It’s possible middle class folks would get a cut, but I haven’t seen any analysis that says so.

People are starting to punch holes in this terrible, simpleton, revenue neutral tax plan, but I fear that won’t be enough to keep low-info “independent” swing voters from clamoring for a tax hike.  Anything to get rid of the Marxistmuslimkenyan.

http://thinkprogress.org/yglesias/2011/10/18/347258/herman-cains-9-9-9-plan-is-very-regressive/

http://taxvox.taxpolicycenter.org/2011/10/18/cain’s-9-9-9-plan-would-cut-taxes-for-the-rich-raise-taxes-for-almost-everyone-else/?utm_source=feedburner&utm_medium=feed&utm_campa

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Sometimes even the wizard confuses me

I really like Krugman.  Maybe it’s because I’m not an economist, but I’m confused when  he always says we don’t really have an inflation problem, which we don’t right now.  A big point of his and liberals in general is, that median wages have stagnated for 30+ years, and have actually fallen a lot with relation to prices, or a form of inflation.  He always denies there is inflation if wages aren’t following the price trend, but it affects regular people all the same.  We actually need some wage inflation here.  Hint: unions.

http://krugman.blogs.nytimes.com/2011/10/19/more-uk-inflation/