9-9-9: The Big Idea Of 2012?
Oct 06, 2011
It’s way too early to predict who’s going to win the Republican nomination for president … but it’s not too early to start speculating on who’s got the inside track on the best Big Idea of the 2012 Campaign. That may well be former Godfather’s Pizza chief executive officer Herman Cain, whose campaign has gained serious traction on the strength of a single, impossible-to-forget proposal: We should establish a flat, loophole-free 9% income tax rate for everyone (including payments into Social Securiy and Medicare), cut the corporate tax rate to 9%, and establish a new national sales tax of 9%.
The idea, known as the 9-9-9 plan, has a number of interesting things going for it. First and foremost, according to this Washington Post blog, it can bring in roughly the same amount of tax revenue that the current loophole-ridden, impossibly complex tax “system” generates. Second, it would unleash a tidal wave of private-sector growth. Third, it’s fair. As Cain puts it, it’s a system under which “everyone has some skin in the game.”
This viral Cain campaign video concludes with some memorable words that recall the practice of tithing, or setting a tenth of one’s income aside for religious charity: “If 10% is good enough for God, then 9% should be just fine for the Federal Government.” It’s hard to disagree … and it’s also pretty hard to dispute that Cain’s proposal has tapped into a huge reservoir of (legitimate) public anger with Washington. I don’t know if that makes him the next President of the United States, but it does make him someone with a game-changing idea that voters are listening to. That means mainstream media should start listening more closely to Cain too … and it also means lawmakers should tell voters exactly where they stand on the 9-9-9 plan.
LINKS:
YouTube: 9-9-9: A Vision for Economic Growth
The Washington Times: CURL: Cain’s ‘9-9-9’ tax plan is fairer share
Jordan, it’s time for a new tax plan to be discussed and taken seriously.
We’re in a new digital and global world and the US needs to be a haven for entrepreneurs, visionaries, and inventors. We need to attract people, not run them off and taxation is the one reason why any new global company doesn’t headquarter themselves in the US.
We are well protected.
We have extensive legal protections
We have the world’s largest economy
Once we have a simple and fair tax system, we will also be business friendly again.
Thanks for posting this JZ.
Aaron
My problom with Cain is he has been on the board of govoners for the KC FED the Federal Reserve and said that the FED is doing a good job and that they dont need to be audited… Why not ?? Every other business and corporation has the threat of an audit why not the FED, because they have so much to hide thats why he does not want the FED audited.
Under Herman Cains watch of the FED he worked to get Glass-Steagall repealed 2 years later in 1999 that was the cause of the derivatives problem still at the bottom of all the financial troubles in the world
The other thing with Cains 9 9 9 plan it needs to be clear not to be added to the income tax like a VAT tax in Europe or increased to 20% each like in Europe. I like the Big thinking and simpleness but I dont trust Herman Cain he is a tool of the FED and they are the biggest problem with this economy
END THE FED vote for RON PAUL and small government