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Tuesday, October 18, 2011

Herman Cain's 9-9-9 Loses Nassau County, Long Island

    Because all anyone in this county cares about is having their taxes raised. And that's exactly what Mr. Cain intends to do. Get it right: he will raise your taxes long, he will raise your taxes hard, but most of all he will raise them a lot.

    He will do so unless you are in the top .01. Please note I said the top .01, not the top 1 percent that Occupy Wall Street targets.

    http://krugman.blogs.nytimes.com/

    "A middle income household making between about $64,000 and $110,000 would get hit with an average tax increase of about $4,300, lowering its after-tax income by more than 6 percent and increasing its average federal tax rate (including income, payroll, estate and its share of the corporate income tax) from 18.8 percent to 23.7 percent. By contrast, a taxpayer in the top 0.1% (who makes more than $2.7 million) would enjoy an average tax cut of nearly$1.4 million, increasing his after-tax income by nearly 27 percent. His average effective tax rate would be cut almost in half to 17.9 percent. In Cain’s world, a typical household making more than $2.7 million would pay a smaller share of its income in federal taxes than one making less than $18,000. This would give Warren Buffet severe heartburn."

      It is no joke how much he wants to raise your taxes. And I'm talking to you Nassau County not the poor who in your mind you like to think you're better than; in your heart of hearts I know you Nassau County. You feel that those people ought to work more. I say this as someone who grew up here and am back here, as a long time resident. Don't get me wrong I love you but I know you. While you hyperventilate about the possibility of your local property taxes rising by 200 dollars  Mr. Cain wants to raise your taxes by $4,300 or something like that. Because Cain's taxes benefit only the rich and raise everyone else's taxes and this means you of the hardworking middle and upper middle classes. Mr. Cain wants you to take a major tax hike.

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