...."If you do a back of the envelope calculation, you'll find that many, many people and, probably on average, most people in middle income categories will have their taxes go up under a 9-9-9 plan," Romney told his New Hampshire supporters on a conference call, after being asked his opinion of 9-9-9.
"I think it's going to be pretty clear over the coming weeks as we take a close look at Herman Cain's proposal that there will be some people who find it very troubling," Romney said. "There will be some, by the way, who find that their taxes will go down a lot, and they'll find it very attractive. There are others who will find that their taxes go up a lot."
On the call, George Lovejoy, the co-founder of the Granite State Taxpayers Association, warned that Cain's proposal to impose a federal sales tax could hurt seniors on fixed incomes.
"If you're right that senior citizens who are living on a fixed income would suddenly find their costs go up a nine percent sales tax, that could be very difficult indeed, and very troubling," Romney said. "If you're right, it hurts senior citizens, and I think that what you described, you may well be right on that, then that's not something that's going to fly with the American public and it certainly wouldn't fly with me."
Read the entire article HERE,
If you want to see the breakdown that the Tax Policy Center did on this plan, go HERE. Unfortunately, no mater which way you look at this plan, it's a bad idea.
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