What I’m confused by is why Herman Cain, a Republican, wants to raise my taxes with his 9-9-9 plan?
While my marginal tax rate is higher than 18% (Cain’s proposed 9% sales tax + 9% personal income tax… yes, the math isn’t perfect but it’s close), my actual effective tax rate is about 15%. I’m certainly in the upper half of earners for San Diego county.
His proposal is a HUGE tax increase for most Americans. Plus, even with lower income taxes, who wants to pay 17% total sales tax on everything? Would that grind our retail economy to a complete halt?
