Herman Cain’s other woman problem
If you’re looking for commentary of Herman Cain’s relationship with women, Wonkblog isn’t the right place to find it. But if you’re looking for information on the relationship between Herman Cain’s tax plan and women, well, you’ve come to the right place.
As Sofia Resnick explains at the American Independent, women make up 49 percent of the workforce but 59 percent of low-wage workers. Households headed by women are disproportionately poor. Women account for 57 percent of Social Security beneficiaries over age 62, and 69 percent of beneficiaries over age 85. As you would expect, they also draw more heavily than men on income-support programs like the Earned Income Tax Benefit.
And so a regressive tax plan that cuts taxes on high earners, raises them on middle-income Americans, starves government programs that disproportionately benefit the poor and ends credits and deductions that help the working class will harm women. And that happens to describe the 9-9-9 plan exactly. This graph by Kevin Drum, which uses data from the Tax Policy Center, shows the difference between 9-9-9 and the current tax code for households at different points on the income ladder:
Since women are overrepresented on the left side of the graph, they’re hurt by the 9-9-9 plan. Resnick puts it even more vividly: “Under Cain’s plan, millionaires would get a 17.9 percent tax rate, or a 22 percent boost after taxes. But a single mother earning between $20,000 and $30,000? Her tax rate would be 24.9 percent. In other words, a single mom making $25,000 a year will have to give 25 percent of her income, or $6,250, to taxes.”