Mr. Herman Cain’s tax proposal is simple and for once I agree with Michele Bachmann, the devil is in the details. Here are some details from the Tax Policy Center.
Income Average Tax Change
Less than $10,000 Up $ 1,122.00
$10,000 to $20,000 Up $ 2,705.00
$20,000 to $30,000 Up $ 3,833.00
$30,000 to $40,000 Up $4,196.00
$40,000 to $50,000 Up $4,399.00
$50,000 to $75,000 Up $4,326.00
$75,000 to $100,000 Up $4,368.00
$100,000 to $200,000 Up $2,105.00
$200,000 to $500,000 Down $11,155.00
$500,000 t0 $1 million Down $ 59,489.00
Above $1 million Down $ 455,247.00
I think it is time for Mr. Cain to return to the world of Pizza and forget politics.
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