"It is unclear if the other candidates are simply piling on Cain because he is leading in the polls or if they are simply ignorant of his plan but it is clear that they are misrepresenting his intentions wholesale."
Laffer – 9-9-9 not a joke
by admin Posted on October 18, 2011
Arthur Laffer documents his thoughts on Herman Cain’s 9-9-9 plan. The debate was increasing frustrating tonight due to Bachmann, Romney and Perry routinely providing false and misleading analogies on Cain’s plan. Here is the math:
Current tax code: 25% income tax + 9% sales tax = 34%
9-9-9: 9% income tax + 9% federal sales tax (only on goods you choose to buy new) + 9% state sales tax = 27%
Now, the argument will be made that the poor now must pay 9% income tax under this plan. At what point should people have skin in the game? When 47% of the country pays no federal income tax and yet receive benefits beyond what this country can afford, are we supposed to seek our own financial demise?
http://theconservativethinker.com/wp/?p=1702
” “It is unclear if the other candidates are simply piling on Cain because he is leading in the polls or if they are simply ignorant of his plan but it is clear that they are misrepresenting his intentions wholesale.” “
Cain is going to kick their butts, and they know it : )