I feel a lot better when I see that both Art Laffer and Steve Forbes say the plan is strong, both in the fact it is a major net cut in taxes, but it also eliminates masses of bureaucracy involved in maintaining the current system- and it is a good step towards either a flat tax or fair tax.. you can’t make the latter happen over night but what you can do is take, as Reagan often said, an incremental approach.
If it’s good enough for Teve Torbes, it’s good enough for me.
I have a few issues with the plan.
It would give me an effective tax rate of 17 3/4% on necessity’s, housing, food and drink.
That COULD be OK, if we had no capital gains and no Federal income tax, but I really get scared that Cain specifically calls on “THE” super committee to do the right thing.
It all hinges on 12 hand select ***holes