Cain Plan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Them again. that's kind of what we're talking about here. you've got, what the cbo report shows is that the market by itself, these market outcomes. is generating historically very high levels of inequality. economic growth has basically become a spectator sport for many in the middle class. it does an end run and goes to the top. so what you've really don't want to see is a tax system that comes in on top of that and makes it worse. and that's precisely what we see in some of these republican plans. particularly the cain plan. less so in the perry plan but there as well. >> you know, jared, t...

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More. as you suggest correctly under the revised plan, those between 22,000 and psychiatrist is the limit would be paying something and ultimately for those between 22 and 50 and 60, they would be paying 9% on their income, 9% on their purchases, that being a regressive tax to be sure on consumption. so i think the her man cain plan is crafted probably yet needs another cut. >> gregg: it will get more retooling. but matt, two weeks ago on fox news sunday, cain absolutely insisted that his tax plan was not regressive. it did not hurt lower or moderate income americans, but now he is he suddenly...

You don't have a profit. >> paul: elements of value added tax? >> it's too complicated and some people will pay more taxes. that's going to be a political problem. >> paul: james, that's true of if i plan, some will pay more and some will pay less and you're looking at loopholes created. and want an efficient, fairer tax. >> i think what will cain is saying, what mr. perry is going to say next week, look, we're cutting out hundreds of billions of dollars every year in tax compliance costs and we're cutting out perhaps billions of hours people figuring out tax returns. i think you would get som...

Qualify for these tax rates. although he makes it sound simple when you actually look behind it it will be incredibly complicated. >> gregg: simplicity is never a simple concept. he has insisted that u.s. households will not see their taxes -- will see their taxes cut i should say. let's look at the plan. under the current tax system, if a family makes more than $22,000 they pay no federal income tax right now. but under cain's plan they would be over the poverty line and would not fall under his exemption they would be paying a new 9% income tax, and new 9 am tax on purchases, isn't he wrong ...