Tax Policy Center does the numbers on the Herman Cain 9-9-9 plan—It's perfectly regressive

Perfectly regressive (my phrase). That means that quintile by quintile, the greatest burden falls hardest on the poorest (they pay almost 20% more in taxes), and lightens progressively through the next three quintiles (15% more taxes, 10% more taxes, 6% more taxes).

Then guess what? The top quintile gets a little gift — a nice little 7% tax savings.

But it gets better. The Tax Policy Center then takes that top quintile (the top 20% of taxpayers) and breaks it down.

Again, the numbers are perfectly regressive. The more you make, the bigger your refund. The top 0.1% would receive a stunning 26% giveback from the government, for, well ... something to do with virtue, I'm sure.

(I wonder what the top 0.01% would get? General Motors? Drilling rights in the Grand Canyon?)

Paul Krugman has the data, all in a nice chart. Be sure to click and read. It's quick and very dirty.

GP