Herman Cain's Tax Proposal Is Great For the Super Rich

Herman Cain has made the biggest gains in the polls among the GOP candidates for the presidency. His popularity is largely due to his 9-9-9 plan to radically change US tax policy. He has a gift for making it sound simple but upon examination it is the most regressive tax policy change that we have ever seen. It is Reagan on steroids. The plan shifts the tax burden such that taxes increase for all but those in the top 1% income bracket. It is regressive even within that income group. Most of the gains go to the top 0.1%.