Quote:
Originally Posted by DeltaBetaBaby
It's regressive. The poorest people end up paying the largest share of their income in taxes.
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I would say that Cain needs a course on taxes and tax transfers but he already knows what he's proposing. Instead, he needs to have lunch with Warren Buffet (if they are not already lunch buddies).
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Presently, federal personal income tax is progressive and sales tax is regressive. The pretax and post-tax income distributions are largely indistinguishable in that the top 1%-5% still claim most of the personal income and wealth. Proposed tax plans need to be grounded in something really strong for tax payers and decision makers to want to change things on either side.