{"id":788,"date":"2011-10-18T01:02:44","date_gmt":"2011-10-18T05:02:44","guid":{"rendered":"http:\/\/therationalprogressive.com\/cms\/?p=788"},"modified":"2011-10-18T01:02:44","modified_gmt":"2011-10-18T05:02:44","slug":"billionaire-investor-warren-buffett-would-pay-no-income-tax-under-cains-999-plan","status":"publish","type":"post","link":"http:\/\/therationalprogressive.com\/cms\/2011\/10\/billionaire-investor-warren-buffett-would-pay-no-income-tax-under-cains-999-plan\/","title":{"rendered":"Billionaire Investor Warren Buffett Would Pay No Income Tax Under Cain&#8217;s 999 Plan"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/thinkprogress.org\/economy\/2011\/10\/17\/345663\/buffett-nothing-under-999\/\"><img src='http:\/\/therationalprogressive.com\/cms\/wp-content\/uploads\/2011\/10\/buffett0930.jpg' alt='' \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Republicans have met the Buffett rule with universal derision, calling it \u201cclass warfare.\u201d \u201cIf it\u2019s not class warfare, it\u2019s highway robbery,\u201d said 2012 GOP presidential candidate Herman Cain. \u201cPick my pockets, because that\u2019s what he\u2019s doing!\u201d As it turns out, Cain\u2019s much-touted 999 tax plan would basically do the opposite of the Buffett rule, driving Buffett\u2019s already low tax rate down to new depths:<\/p>\n<p>If the \u201c9-9-9\u2033 tax plan promoted by Herman Cain, a leading Republican presidential candidate, had been the law of the land last year, Warren Buffett would very likely have paid no income taxes, according to an analysis prepared for Yahoo News and The Lookout by the American Institute of Certified Public Accountants. At most, Buffett would have paid taxes on just 1 percent of his income.<\/p>\n<p>via <a href=\"http:\/\/thinkprogress.org\/economy\/2011\/10\/17\/345663\/buffett-nothing-under-999\/\">Billionaire Investor Warren Buffett Would Pay No Income Tax Under Cain&#8217;s 999 Plan | ThinkProgress<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<hr\/>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Republicans have met the Buffett rule with universal derision, calling it \u201cclass warfare.\u201d \u201cIf it\u2019s not class warfare, it\u2019s highway robbery,\u201d said 2012 GOP presidential candidate Herman Cain. \u201cPick my pockets, because that\u2019s what he\u2019s doing!\u201d As it turns out, Cain\u2019s much-touted 999 tax plan would basically do the opposite of the Buffett&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16,4,22],"tags":[],"_links":{"self":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/788"}],"collection":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/comments?post=788"}],"version-history":[{"count":1,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/788\/revisions"}],"predecessor-version":[{"id":790,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/788\/revisions\/790"}],"wp:attachment":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/media?parent=788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/categories?post=788"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/tags?post=788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}