Cain's 9-9-9 Tax Plan Helps Wealthy, Hurts Poor
Michael A. Fletcher of the Washington Post is reporting that Herman Cain's much hyped "9-9-9" tax plan will penalize low- and middle-income Americans. The plan would do away with much of the current tax code and impose a 9 percent personal income tax, a 9 percent business tax and a 9 percent national sales tax. Tax experts say that implementing Cain's plan, which the GOP candidate tauts as simple and fair, would change the current practice of high-income Americans paying a higher share of income in taxes than lower-income people.
The popularity of Cain's plan has propelled him into the lead among GOP candidates. Fletcher reports that Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center, is working on an analysis of Cain's signature policy proposal. Although the plan's details remain sketchy, Williams said that it would increase taxes for the poor and middle class, despite Cain's statements to the contrary.
Surprise, surprise: a Republican plan to tax lower- and middle-class Americans while letting the wealthy off the hook to help solve the tax issue. If you don't stand for something, you'll fall for anything, like a tax "plan" that will hurt the bulk of Americans, many of whom will be voting Republican in 2012. Why all of the support for the plan -- because it's branded? "9-9-9" is easy to say, therefore it must be easy to do? Some folks need to read the fine print.
Read more at the Washington Post.
In other news: Legal Pioneer Chose Principle Over Power.