Matt Yglesias at Think Progress wrote a great piece about the real effects of presidential hopeful Herman Cain’s “9-9-9″ economic plan.

As it turns out, the comments made at tonight’s debate about how regressive the 9-9-9 plan is didn’t go far enough. This plan is very regressive.

The above charts show how Cain’s plan would shift the tax burden for Americans of different income levels. Clearly, the rich make out like bandits. Pay careful attention to the second chart–that’s some serious savings for millionaires. (Who’s talking about class warfare now?)

NOTE: Very wonkish, but here’s the whole study from the Tax Policy Center, should you be so inclined.

Anyway, what do you think: is this plan a refreshing solution to the problem of an overcomplicated tax system? Or is it perhaps a gross oversimplification of that complex issue? Does it reward job creators or punish working Americans–or both?