He has reiterated that stance regularly on his show, any time it has come up, since then.
He is for the Fair Tax, and my husband and I happen to agree with him on that point. We did quite a bit of research on it last year.
From his web site:
Replace the federal income tax code
The current federal income tax code is a 9 million word mess, and it cannot be reformed or restructured. It creates disadvantages for families wondering how to pay for their children’s education, for small businesses struggling to pay the bills and meet payroll, for multinational businesses trying to compete in the global marketplace against lower priced goods from foreign countries, and for any U.S. citizen working hard everyday to achieve their American Dream.
No amount of tinkering with a portion of the tax code is going to fix it. It is too complicated. It is too unfair and inefficient. It discourages people from working harder to achieve upward economic mobility, which destroys hope and opportunity. The federal income tax code must be replaced, and it must be replaced with a national retail sales tax, also known as the “FairTax.”
Several commissions over the last 25 years, including the one I served on in 1995 (The National Commission on Economic Growth and Tax Reform), have all concluded that a replacement tax system should satisfy six principles.
•First, it should promote economic growth by reducing marginal tax rates and eliminating the tax bias against savings and investments.
•Second, it should promote fairness by having one tax rate and eliminating all loopholes, preferences and special deductions, credits and exclusions.
•Third, it should be simple and understandable. Simplicity would dramatically reduce compliance costs and allow people to truly comprehend their actual tax burden.
•Fourth, it should be neutral rather than allowing misguided officials to manipulate and micromanage our economy by favoring some at the expense of others.
•Fifth, it should be visible so it clearly conveys the true cost of government and so people would not be subjected to hidden changes in the tax law.
•Sixth, it should be stable rather than changing every year or two so people can better plan their businesses and their lives.
The FairTax satisfies all six criteria.
To enact the FairTax and unleash the full economic potential of the U.S., we must apply Vocal and Persistent pressure on Congress each week.
Email, call or fax your members of Congress today. Send them this simple message: “Please support replacing the federal income tax code and become a co-sponsor of HR 25 or S 296, the FairTax.”
We don't need a national retail tax.
He is obviously not a shrewd business man. He should know better. I'd expect the Huckster to not understand this because he really never WORKED for it. As a minister and then as governor, he doesn't understand. Cain should know better. A national tax will hurt those with the LEAST MORE than those with the most. Those with the LEAST are the ones that will be buying MORE. Those with the MOST, won't feel it.
He might as well favor a VAT tax.
I want a FLAT tax where all suffer accordingly.
I know for a FACT, that Pepsi promotes on “diversity”. Pepsi is like Johnson and Johnson in that regard. They don't care about ability. They care about what you LOOK like. J&J have the most incompetent people i positions of authority that do NOT belong there. I worked there as a consultant and saw that first hand. It was terrible, however since I was NOT an employee of J&J I dealt with it. So it doesn't come as a surprise that he would ALSO try to leverage his SKIN COLOR for President. I'm not sure of the other companies he worked for. They too have quotas since affirmative action is alive and well.
I'd like to know HOW he turned things around. How many people did he have under him. What was the PROFIT before he took over and the PROFIT after he took over.
“•First, it should promote economic growth by reducing marginal tax rates and eliminating the tax bias against savings and investments.”
No it will not promote economic growth by taxing everything you buy. What is will do is hurt those that have the least when they go to purchase goods and services and you will have LESS for savings and investment if you are impoverished.
“•Second, it should promote fairness by having one tax rate and eliminating all loopholes, preferences and special deductions, credits and exclusions.”
No, having those with the least will pay MORE for what they NEED. The bias's will be directed to those with the LEAST. Those with more, will not be affected. The preference by default will be to keep the impoverished down.
“•Third, it should be simple and understandable. Simplicity would dramatically reduce compliance costs and allow people to truly comprehend their actual tax burden.”
Simple and understandable is not a merit. No policy should be based on peoples stupidity or dumbness. It will NOT reduce compliance costs by being simple and understandable. There will be ways around it such as NOT reporting sales ... .
“•Fourth, it should be neutral rather than allowing misguided officials to manipulate and micromanage our economy by favoring some at the expense of others.”
By using this form of tax, based on purchasing power, it is manipulating the impoverished to pay MORE. It is also micromanaging the economy to keep people down at the expense of others and favoring the “wealthy” which it is claiming not to do! It is the wealthy that is being favored at the expense of the impoverished.
“•Fifth, it should be visible so it clearly conveys the true cost of government and so people would not be subjected to hidden changes in the tax law.”
The “Fair Tax” is anything but FAIR! The cost of government will be INCREASING. It will be the next CASH COW for the government. They'll just raise the TAX when they need more money. We already pay, state, federal and local taxes. Another TAX is not what we need based on purchasing power. It's ridiculous. We NEED less spending by the government and LESS taxes.
“•Sixth, it should be stable rather than changing every year or two so people can better plan their businesses and their lives.”
Paying ANOTHER TAX, will not have any effect on business planning. This tax will only polarize the classes and create more class warfare. Instead of mucking with the tax code every couple of years, they'll just make the case to RAISE the TAX on purchasing. They’ll say, “oh, what's another 1%? It's really nothing ...” Our government needs LESS TAXING ABILITY.
“The FairTax satisfies all six criteria.”
My criteria is obviously not the same as your criteria. The Fair Tax is SIMPLY misleading and idiotic. It's aback door approach for our government to have MORE MONEY to spend at the expense of the impoverished who literally have the LEAST to SPEND.
People like th Huckster would like it because it is SIMPLE on the surface. When you did deeper it hurts the very people it is claiming to help. The Huckster has NO IDEA what working for a living is like beyond government. The Huckster has had a free ride all his life so I'd expect him to be extremely ignornat. I don't expect this kind of an ignorance to come from a man claiming to be a business success. Cain has NO EXCUSE for promoting this.