Quit lying. It's just as annoying as the straw men you erect.
I'm not lying. You just clearly don't like the truth when it disagrees with you.
Yes, yes it is significant. Your "analysis" has factual problems in it. You're going to have to provide math to back up your claims.
It had two problems with it. One I forgot to account for the marginal income tax, which only changes things only a little bit. Two I made the mistake of thinking there'd still be capital gains tax, which the 999 plan doesn't have.
You're upset that I pointed out an error that renders your "analysis" invalid? Why don't you try and show how your "analysis" is correct with the error fixed instead of getting upset.
Again, a MINOR problem. And I already posted about how it doesn't change much. You ignored that post.
LET ME GET THIS STRAIGHT.
You can try.
1. You make a claim about taxes on a guy making 34.5K which is wrong because you don't understand the gradudated rates, and also you forget about deductions.
A minor problem, one I corrected for in a post here which you as well ignored.
2. You backtrack from that "small error", and make a new claim about taxes and d"the rich" in "the 90s and earlier".
Marginal income tax for the rich in the 90s was 50%.
You know, maybe I'm mistaken and it is just that you and Newton know nothing about tax revenue or what taxes have been historically, nor anything about the Bush tax cuts.
And again, you've forgot about deductions, loopholes and tax credits.
Sorry, but this is poor work.
Not really, especially since the only support provided for the plan actually getting anyone close to enough money required erroneous reasoning and magic numbers.
But, it's clear that you and Newton are pretty ignorant about our current tax system. I have assumed since you are arguing so strongly that you were aware more of how it worked.
Note, I also ignored EVERYTHING but income tax, and assumed that Cain's plan would raise a lot more than it does (due to people spending all of their money).
Corporations DO get tax breaks, but this reduces expected revenue by about 25% -- about a 25% tax rate for bigger businesses. That doesn't get you down to anywhere close to 9%. So Cain's plan raises less money here.
It also raises less money from Capital Gains tax, because it doesn't have one.
Note that merely extending the Bush cut to this tax (20% to 15%) is estimated to cost 100 billion dollars over a decade. As a yearly total, we're talking about well over 100 billion dollars per year.
As for revenue, over 38% of income tax revenue comes from the top 1%. Almost 59% comes from the top 5%. Dramatically reducing the taxes these people pay is going to severely reduce incoming revenue. Slightly increasing the taxes of the poorest people in America cannot remotely make up that difference -- there just isn't enough money there. Are you guys completely unaware of the massive wealth disparity in the USA?
My apologies for assuming you guys knew more than you did.